Stephens Reiterates “Overweight” Rating for FedEx (NYSE:FDX)

FedEx (NYSE:FDX)‘s stock had its “overweight” rating restated by stock analysts at Stephens in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $325.00 target price on the shipping service provider’s stock. Stephens’ price target would indicate a potential upside of 9.99% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company raised shares of FedEx to a “hold” rating in a report on Tuesday, June 18th. Stifel Nicolaus reissued a “buy” rating and set a $327.00 price objective (up from $303.00) on shares of FedEx in a report on Wednesday. TD Cowen boosted their target price on shares of FedEx from $320.00 to $335.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Jefferies Financial Group boosted their target price on shares of FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, FedEx has an average rating of “Moderate Buy” and an average target price of $314.00.

FedEx Stock Down 0.2 %

Shares of FedEx stock opened at $295.47 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The stock has a market capitalization of $72.71 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 0.93 and a beta of 1.16. FedEx has a 52-week low of $224.69 and a 52-week high of $296.86. The company has a 50-day simple moving average of $256.80 and a two-hundred day simple moving average of $256.00.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.34 by $0.07. The business had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.86%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the company earned $4.94 earnings per share. On average, analysts anticipate that FedEx will post 20.26 EPS for the current fiscal year.

FedEx declared that its Board of Directors has authorized a share buyback program on Thursday, March 21st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the completion of the transaction, the chairman now 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 SEC, which is available through this hyperlink. In related news, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the sale, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Tracy B. Brightman sold 2,550 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $275.69, for a total transaction of $703,009.50. Following the sale, the executive vice president now directly owns 6,294 shares in the company, valued at approximately $1,735,192.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 117,275 shares of company stock worth $32,177,298. 8.73% of the stock is owned by insiders.

Institutional Investors Weigh In On FedEx

A number of hedge funds have recently bought and sold shares of the business. Fidelis Capital Partners LLC raised its stake in FedEx by 4.1% during the first quarter. Fidelis Capital Partners LLC now owns 982 shares of the shipping service provider’s stock valued at $285,000 after purchasing an additional 39 shares in the last quarter. KRS Capital Management LLC raised its stake in shares of FedEx by 4.1% in the fourth quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock valued at $263,000 after acquiring an additional 41 shares during the period. Zullo Investment Group Inc. raised its stake in shares of FedEx by 0.7% in the fourth quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock valued at $1,447,000 after acquiring an additional 42 shares during the period. Regent Peak Wealth Advisors LLC raised its stake in shares of FedEx by 3.5% in the first quarter. Regent Peak Wealth Advisors LLC now owns 1,274 shares of the shipping service provider’s stock valued at $369,000 after acquiring an additional 43 shares during the period. Finally, Toth Financial Advisory Corp raised its stake in shares of FedEx by 18.0% in the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after acquiring an additional 44 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

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.