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

FedEx (NYSE:FDX) had its price target lowered by equities research analysts at Wells Fargo & Company from $320.00 to $275.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the shipping service provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 9.72% from the company’s previous close.

FDX has been the topic of several other research reports. Barclays upped their target price on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Bank of America upped their target price on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, December 20th. UBS Group upped their target price on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Loop Capital lowered 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 report on Monday, February 3rd. Finally, TD Cowen upped their target price on FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $317.78.

FedEx Stock Performance

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

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The company had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.99 earnings per share. Equities analysts predict that FedEx will post 19.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other FedEx news, 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 sale, the director now directly owns 8,904 shares in the company, valued at $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were acquired at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Citizens Financial Group Inc. RI raised its position in FedEx by 3.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after purchasing an additional 38 shares during the last quarter. Regal Investment Advisors LLC grew its stake in shares of FedEx by 2.4% in the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock valued at $451,000 after buying an additional 38 shares during the period. Turtle Creek Wealth Advisors LLC grew its stake in shares of FedEx by 4.0% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock valued at $279,000 after buying an additional 39 shares during the period. Harbour Investments Inc. grew its stake in shares of FedEx by 1.5% in the 3rd quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider’s stock valued at $728,000 after buying an additional 40 shares during the period. Finally, Cetera Trust Company N.A lifted its position in FedEx by 0.5% in the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock valued at $2,230,000 after acquiring an additional 40 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

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.