FedEx (NYSE:FDX) Given New $275.00 Price Target at Wells Fargo & Company

FedEx (NYSE:FDX) had its target price lowered by investment analysts at Wells Fargo & Company from $320.00 to $275.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the shipping service provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 9.72% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Loop Capital cut shares of FedEx from a “buy” rating to a “hold” rating and dropped their target price for the stock from $365.00 to $283.00 in a research report on Monday, February 3rd. BMO Capital Markets lifted their target price on shares of FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Stephens lowered their price target on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Barclays lifted their price target on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, UBS Group lifted their price target on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $317.78.

FedEx Price Performance

Shares of NYSE FDX opened at $250.64 on Thursday. FedEx has a fifty-two week low of $242.92 and a fifty-two week high of $313.84. The firm’s 50-day simple moving average is $267.66 and its 200 day simple moving average is $276.69. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market cap of $60.37 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter last year, the firm earned $3.99 EPS. The company’s quarterly revenue was down .7% compared to the same quarter last year. As a group, research analysts anticipate that FedEx will post 19.14 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Park Square Financial Group LLC purchased a new position in FedEx in the fourth quarter worth $89,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in FedEx in the fourth quarter worth $42,588,000. Employees Retirement System of Texas grew its position in FedEx by 13.6% in the fourth quarter. Employees Retirement System of Texas now owns 17,578 shares of the shipping service provider’s stock worth $4,945,000 after acquiring an additional 2,100 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in FedEx by 34.0% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 1,107 shares of the shipping service provider’s stock worth $311,000 after purchasing an additional 281 shares during the last quarter. Finally, LifeWealth Investments LLC bought a new stake in FedEx in the fourth quarter worth $283,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Company Profile

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.