FedEx (NYSE:FDX) Price Target Lowered to $199.00 at Wells Fargo & Company

FedEx (NYSE:FDXGet Rating) had its price objective reduced by equities researchers at Wells Fargo & Company from $269.00 to $199.00 in a report released on Friday, The Fly reports. The brokerage currently has an “overweight” rating on the shipping service provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 23.59% from the company’s previous close.

FDX has been the topic of a number of other research reports. Stephens increased their price target on FedEx from $285.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, June 24th. Morgan Stanley dropped their price target on FedEx from $255.00 to $250.00 in a research report on Wednesday, September 7th. UBS Group dropped their price target on FedEx from $312.00 to $308.00 and set a “buy” rating on the stock in a research report on Wednesday, September 7th. Deutsche Bank Aktiengesellschaft set a $320.00 price target on FedEx in a research report on Thursday, June 30th. Finally, BMO Capital Markets dropped their price target on FedEx from $270.00 to $215.00 and set a “market perform” rating on the stock in a research report on Friday. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus target price of $245.04.

FedEx Stock Performance

Shares of FedEx stock opened at $161.02 on Friday. The stock’s fifty day moving average is $221.14 and its two-hundred day moving average is $218.02. The company has a market capitalization of $41.85 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 0.74 and a beta of 1.21. The company has a quick ratio of 1.38, a current ratio of 1.43 and a debt-to-equity ratio of 0.81. FedEx has a 52 week low of $155.00 and a 52 week high of $266.79.

FedEx (NYSE:FDXGet Rating) last announced its quarterly earnings data on Thursday, June 23rd. The shipping service provider reported $6.87 EPS for the quarter, missing the consensus estimate of $6.91 by ($0.04). The business had revenue of $24.39 billion during the quarter, compared to the consensus estimate of $24.28 billion. FedEx had a net margin of 4.09% and a return on equity of 22.29%. During the same period last year, the company earned $5.01 EPS. As a group, analysts expect that FedEx will post 23.01 earnings per share for the current year.

Insider Transactions at FedEx

In other news, Director Vincenzo J. Vena acquired 900 shares of FedEx stock in a transaction dated Wednesday, July 6th. The stock was purchased at an average cost of $230.04 per share, for a total transaction of $207,036.00. Following the completion of the purchase, the director now directly owns 1,325 shares in the company, valued at approximately $304,803. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Vincenzo J. Vena bought 900 shares of the company’s stock in a transaction that occurred on Wednesday, July 6th. The shares were purchased at an average cost of $230.04 per share, with a total value of $207,036.00. Following the completion of the acquisition, the director now directly owns 1,325 shares in the company, valued at $304,803. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy B. Lane bought 607 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The shares were bought at an average cost of $228.12 per share, for a total transaction of $138,468.84. Following the completion of the acquisition, the director now owns 686 shares of the company’s stock, valued at $156,490.32. The disclosure for this purchase can be found here. Insiders sold a total of 48,810 shares of company stock worth $11,199,898 over the last three months. 8.62% of the stock is currently owned by insiders.

Institutional Trading of FedEx

Several hedge funds and other institutional investors have recently bought and sold shares of FDX. Skandinaviska Enskilda Banken AB publ grew its holdings in FedEx by 53.2% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 66,692 shares of the shipping service provider’s stock valued at $15,432,000 after purchasing an additional 23,157 shares during the period. Graypoint LLC grew its holdings in FedEx by 16.0% in the first quarter. Graypoint LLC now owns 1,897 shares of the shipping service provider’s stock valued at $439,000 after purchasing an additional 261 shares during the period. NN Investment Partners Holdings N.V. grew its holdings in FedEx by 15.2% in the first quarter. NN Investment Partners Holdings N.V. now owns 54,607 shares of the shipping service provider’s stock valued at $12,635,000 after purchasing an additional 7,192 shares during the period. Value Partners Investments Inc. grew its holdings in FedEx by 21.5% in the first quarter. Value Partners Investments Inc. now owns 306,203 shares of the shipping service provider’s stock valued at $70,826,000 after purchasing an additional 54,116 shares during the period. Finally, Veriti Management LLC grew its holdings in FedEx by 22.5% in the first quarter. Veriti Management LLC now owns 3,343 shares of the shipping service provider’s stock valued at $774,000 after purchasing an additional 614 shares during the period. 71.62% of the stock is owned by institutional investors and hedge funds.

About FedEx

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

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