FedEx (NYSE:FDX) Receives “Overweight” Rating from Stephens

FedEx (NYSE:FDX)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Stephens in a report released on Wednesday, Benzinga reports. They currently have a $325.00 price objective on the shipping service provider’s stock. Stephens’ price target would suggest a potential upside of 11.05% from the stock’s previous close.

Several other analysts also recently weighed in on FDX. Oppenheimer restated a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. Robert W. Baird upped their price objective on FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday. UBS Group dropped their price objective on FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a research report on Tuesday, May 21st. Raymond James dropped their price objective on FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Morgan Stanley increased their target price on FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $309.83.

FedEx Stock Performance

Shares of FDX stock traded up $36.29 during trading on Wednesday, reaching $292.67. 4,509,999 shares of the company’s stock were exchanged, compared to its average volume of 1,862,993. The firm’s fifty day moving average price is $256.13 and its 200-day moving average price is $255.72. The stock has a market capitalization of $72.02 billion, a PE ratio of 16.92, a PEG 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 $293.50.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping the consensus estimate of $5.34 by $0.07. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The business had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. During the same period in the prior year, the company earned $4.94 EPS. FedEx’s revenue for the quarter was up .8% on a year-over-year basis. As a group, sell-side analysts anticipate that FedEx will post 17.76 EPS for the current year.

FedEx declared that its board has approved a stock buyback program on Thursday, March 21st that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the completion of the sale, the chief executive officer now owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the completion of the sale, the chief executive officer now owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction dated 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 transaction, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. Insiders sold a total of 127,774 shares of company stock worth $35,194,126 over the last ninety days. 8.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lazari Capital Management Inc. purchased a new stake in shares of FedEx in the 1st quarter worth approximately $202,000. Keynote Financial Services LLC bought a new position in FedEx in the 1st quarter valued at approximately $288,000. EverSource Wealth Advisors LLC lifted its position 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 valued at $3,621,000 after acquiring an additional 45 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in FedEx by 45.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 148,573 shares of the shipping service provider’s stock valued at $42,610,000 after acquiring an additional 46,244 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new position in FedEx in the 1st quarter valued at approximately $89,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

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.