FedEx (NYSE:FDX) Given New $332.00 Price Target at The Goldman Sachs Group

FedEx (NYSE:FDX) had its price target lowered by equities researchers at The Goldman Sachs Group from $333.00 to $332.00 in a research report issued to clients and investors on Friday. The Goldman Sachs Group’s target price indicates a potential upside of 27.01% from the stock’s previous close.

Other research analysts also recently issued reports about the company. TD Cowen dropped their price objective on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research note on Friday. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a research note on Friday. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Bank of America dropped their target price on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $327.00 price target (up from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $313.12.

FedEx Stock Down 13.0 %

Shares of NYSE FDX opened at $261.40 on Friday. The company has a 50 day simple moving average of $293.32 and a 200 day simple moving average of $274.80. The firm has a market cap of $64.33 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. FedEx has a 1 year low of $224.69 and a 1 year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the previous year, the business posted $4.55 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, research analysts forecast that FedEx will post 20.82 EPS for the current year.

Insider Buying and Selling

In other FedEx news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the transaction, the chief executive officer now owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the sale, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Precision Wealth Strategies LLC purchased a new position in FedEx in the fourth quarter worth $324,000. Quest Partners LLC bought a new position in shares of FedEx during the 4th quarter valued at about $267,000. Franklin Resources Inc. raised its holdings in shares of FedEx by 38.6% during the 4th quarter. Franklin Resources Inc. now owns 153,907 shares of the shipping service provider’s stock valued at $38,934,000 after buying an additional 42,844 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of FedEx by 3.5% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 60,413 shares of the shipping service provider’s stock worth $15,283,000 after purchasing an additional 2,051 shares during the period. Finally, US Bancorp DE boosted its stake in shares of FedEx by 3.6% during the 4th quarter. US Bancorp DE now owns 113,778 shares of the shipping service provider’s stock valued at $28,782,000 after purchasing an additional 3,955 shares in the last quarter. 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.