FedEx (NYSE:FDX) PT Raised to $340.00 at Robert W. Baird

FedEx (NYSE:FDX) had its target price upped by equities researchers at Robert W. Baird from $325.00 to $340.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the shipping service provider’s stock. Robert W. Baird’s price objective suggests a potential upside of 15.07% from the stock’s previous close.

Several other research firms also recently issued reports on FDX. Jefferies Financial Group increased their target price on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. UBS Group cut their price objective on shares of FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a research report on Tuesday, May 21st. JPMorgan Chase & Co. raised shares of FedEx from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $296.00 to $359.00 in a report on Wednesday. Raymond James cut their price target on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a report on Monday. Finally, Stifel Nicolaus decreased their price target on shares of FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $314.00.

FedEx Stock Down 0.2 %

FDX stock opened at $295.47 on Wednesday. The firm has a market capitalization of $72.71 billion, a PE ratio of 17.15, a P/E/G ratio of 0.93 and a beta of 1.16. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. FedEx has a twelve month low of $224.69 and a twelve month high of $296.86. The stock’s 50 day moving average is $256.80 and its 200-day moving average is $256.00.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.86%. The company had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. During the same period last year, the firm earned $4.94 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. Sell-side analysts expect that FedEx will post 20.26 EPS for the current fiscal year.

FedEx announced that its board has authorized a share repurchase plan on Thursday, March 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the sale, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the sale, the chairman now directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard W. Smith sold 1,325 shares of FedEx stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $278.24, for a total transaction of $368,668.00. Following the completion of the sale, the chief executive officer now directly owns 84,614 shares of the company’s stock, valued at approximately $23,542,999.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 117,275 shares of company stock valued at $32,177,298. Insiders own 8.73% of the company’s stock.

Institutional Investors Weigh In On FedEx

Institutional investors and hedge funds have recently bought and sold shares of the business. Lazari Capital Management Inc. purchased a new position in shares of FedEx in the first quarter worth $202,000. Keynote Financial Services LLC bought a new stake in FedEx in the 1st quarter valued at $288,000. EverSource Wealth Advisors LLC lifted its stake in FedEx by 0.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 12,496 shares of the shipping service provider’s stock worth $3,621,000 after purchasing an additional 45 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of FedEx by 45.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 148,573 shares of the shipping service provider’s stock valued at $42,610,000 after purchasing an additional 46,244 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new stake in shares of FedEx in the first quarter worth about $89,000. 84.47% of the stock is owned by institutional investors.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.