FedEx Corporation (NYSE:FDX) received a $212.00 price objective from investment analysts at Sanford C. Bernstein in a research report issued on Wednesday. The firm presently has a “hold” rating on the shipping service provider’s stock. Sanford C. Bernstein’s price objective suggests a potential downside of 3.61% from the company’s previous close.
Several other research analysts have also commented on the stock. Goldman Sachs Group, Inc. (The) assumed coverage on shares of FedEx Corporation in a research note on Monday. They issued a “buy” rating and a $270.00 price objective for the company. Zacks Investment Research raised shares of FedEx Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $236.00 price objective on shares of FedEx Corporation in a research note on Friday, October 20th. Cowen and Company reissued an “outperform” rating and issued a $240.00 price objective on shares of FedEx Corporation in a research note on Friday, October 13th. Finally, J P Morgan Chase & Co raised their price objective on shares of FedEx Corporation from $237.00 to $264.00 and gave the company an “overweight” rating in a research note on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $230.21.
Shares of FedEx Corporation (FDX) traded down $1.49 on Wednesday, hitting $219.94. 805,400 shares of the company’s stock were exchanged, compared to its average volume of 1,467,734. FedEx Corporation has a 1-year low of $182.75 and a 1-year high of $231.35. The firm has a market capitalization of $59,375.95, a PE ratio of 18.59, a PEG ratio of 1.39 and a beta of 1.37. The company has a current ratio of 1.63, a quick ratio of 1.57 and a debt-to-equity ratio of 0.91.
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In other news, Director Kim Jabal sold 3,980 shares of FedEx Corporation stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $225.55, for a total value of $897,689.00. Following the transaction, the director now directly owns 6,080 shares of the company’s stock, valued at approximately $1,371,344. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald F. Colleran sold 10,000 shares of FedEx Corporation stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the completion of the transaction, the executive vice president now directly owns 30,499 shares in the company, valued at $6,709,780. The disclosure for this sale can be found here. Insiders have sold a total of 40,094 shares of company stock valued at $9,024,637 in the last 90 days. Insiders own 8.45% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. FNY Managed Accounts LLC acquired a new position in FedEx Corporation in the 1st quarter valued at $100,000. Salem Investment Counselors Inc. increased its stake in FedEx Corporation by 2.8% in the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after buying an additional 13 shares during the period. Riggs Asset Managment Co. Inc. increased its stake in FedEx Corporation by 163.0% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock valued at $105,000 after buying an additional 300 shares during the period. Cribstone Capital Management LLC increased its stake in FedEx Corporation by 1.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock valued at $107,000 after buying an additional 6 shares during the period. Finally, Krilogy Financial LLC increased its stake in FedEx Corporation by 0.4% in the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after buying an additional 2 shares during the period. 76.22% of the stock is currently owned by institutional investors and hedge funds.
FedEx Corporation Company Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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