Oppenheimer Reiterates “Market Perform” Rating for FedEx (NYSE:FDX)

FedEx (NYSE:FDX)‘s stock had its “market perform” rating restated by equities researchers at Oppenheimer in a report released on Wednesday, Benzinga reports.

FDX has been the topic of a number of other reports. The Goldman Sachs Group boosted their price target on shares of FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a research report on Wednesday. TD Cowen boosted their price target on shares of FedEx from $320.00 to $335.00 and gave the company a “buy” rating in a research report on Wednesday. Jefferies Financial Group boosted their price target 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. UBS Group reduced their price target on shares of FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. Finally, Evercore ISI reduced their target price on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating on the stock in a research report on Monday. One equities research 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $314.00.

FedEx Stock Performance

NYSE FDX opened at $295.47 on Wednesday. The stock has a market cap of $72.71 billion, a P/E ratio of 17.15, a PEG ratio of 0.93 and a beta of 1.16. The company’s 50-day simple moving average is $256.80 and its 200 day simple moving average is $256.00. FedEx has a twelve month low of $224.69 and a twelve month high of $296.86. 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 (NYSE:FDX) last posted its 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. The business had revenue of $22.11 billion for 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 firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.94 earnings per share. As a group, research analysts forecast that FedEx will post 20.26 earnings per share for the current fiscal year.

FedEx announced that its Board of Directors has initiated a stock 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 shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at FedEx

In other news, CEO Richard W. Smith sold 1,325 shares of the stock in a transaction on Thursday, April 4th. The shares were 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 owns 84,614 shares of the company’s stock, valued at $23,542,999.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Richard W. Smith sold 1,325 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $278.24, for a total transaction of $368,668.00. Following the completion of the transaction, the chief executive officer now owns 84,614 shares in the company, valued at $23,542,999.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. Insiders sold 117,275 shares of company stock valued at $32,177,298 over the last quarter. Corporate insiders own 8.73% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC boosted its holdings in FedEx by 4.1% during the first quarter. Fidelis Capital Partners LLC now owns 982 shares of the shipping service provider’s stock worth $285,000 after purchasing an additional 39 shares during the last quarter. KRS Capital Management LLC lifted its stake in 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 last quarter. Zullo Investment Group Inc. lifted its stake in 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 last quarter. Regent Peak Wealth Advisors LLC lifted its stake in 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 last quarter. Finally, Toth Financial Advisory Corp lifted its stake in 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 last quarter. Institutional investors and hedge funds 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.