FedEx (NYSE:FDX) had its target price dropped by investment analysts at Morgan Stanley from $270.00 to $250.00 in a research report issued on Wednesday, The Fly reports. The brokerage currently has an “equal weight” rating on the shipping service provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 9.21% from the company’s current price.
FDX has been the subject of several other research reports. Loop Capital boosted their price target on shares of FedEx from $366.00 to $381.00 and gave the stock a “buy” rating in a report on Friday, June 25th. Argus boosted their price target on shares of FedEx from $305.00 to $330.00 and gave the stock a “buy” rating in a report on Tuesday, June 29th. They noted that the move was a valuation call. DZ Bank restated a “sell” rating on shares of FedEx in a report on Friday, June 25th. Raymond James cut shares of FedEx from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of FedEx from $318.00 to $375.00 and gave the company a “buy” rating in a report on Monday, June 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $323.92.
Shares of NYSE:FDX opened at $228.92 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 0.86. The business has a fifty day moving average of $271.03 and a two-hundred day moving average of $284.54. The stock has a market cap of $60.94 billion, a P/E ratio of 11.77, a PEG ratio of 1.01 and a beta of 1.22. FedEx has a 52-week low of $228.08 and a 52-week high of $319.90.
In other news, CEO John Alan Smith sold 11,285 shares of the company’s stock in a transaction on Tuesday, June 29th. The stock was sold at an average price of $296.00, for a total transaction of $3,340,360.00. Following the completion of the sale, the chief executive officer now directly owns 16,386 shares in the company, valued at approximately $4,850,256. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan C. Schwab sold 4,720 shares of the company’s stock in a transaction on Tuesday, June 29th. The stock was sold at an average price of $297.30, for a total transaction of $1,403,256.00. Following the sale, the director now directly owns 10,312 shares of the company’s stock, valued at $3,065,757.60. The disclosure for this sale can be found here. Insiders sold a total of 32,240 shares of company stock valued at $9,608,596 over the last quarter. 8.16% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in FDX. OLD Mission Capital LLC purchased a new stake in FedEx during the 3rd quarter worth $219,000. Maverick Capital Ltd. purchased a new stake in FedEx during the 1st quarter worth $1,911,000. The PNC Financial Services Group Inc. boosted its position in FedEx by 6.6% during the 1st quarter. The PNC Financial Services Group Inc. now owns 82,104 shares of the shipping service provider’s stock worth $23,320,000 after purchasing an additional 5,098 shares during the period. IndexIQ Advisors LLC boosted its position in FedEx by 15.5% in the 1st quarter. IndexIQ Advisors LLC now owns 3,925 shares of the shipping service provider’s stock valued at $1,115,000 after buying an additional 528 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its position in FedEx by 571.4% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 2,350 shares of the shipping service provider’s stock valued at $667,000 after buying an additional 2,000 shares during the last quarter. 72.64% of the stock is owned by hedge funds and other institutional investors.
FedEx Corp. is a holding company, which engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.
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