FedEx (NYSE:FDX – Get Rating) had its price objective hoisted by research analysts at Credit Suisse Group from $257.00 to $269.00 in a report issued on Friday, The Fly reports. The firm presently has an “outperform” rating on the shipping service provider’s stock. Credit Suisse Group’s price objective suggests a potential upside of 22.10% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. Bank of America increased their price objective on FedEx from $233.00 to $305.00 in a research report on Friday. Deutsche Bank Aktiengesellschaft increased their price objective on FedEx from $190.00 to $217.00 in a research report on Monday, November 28th. Stifel Nicolaus raised FedEx from a “hold” rating to a “buy” rating and increased their price objective for the company from $171.00 to $222.00 in a research report on Wednesday. Robert W. Baird increased their price objective on FedEx from $230.00 to $250.00 in a research report on Friday. Finally, Jefferies Financial Group increased their price objective on FedEx from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, December 22nd. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $230.75.
FedEx Trading Up 8.0 %
Shares of FDX stock opened at $220.31 on Friday. FedEx has a 12 month low of $141.92 and a 12 month high of $248.76. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average is $201.14 and its two-hundred day moving average is $181.41. The company has a market cap of $55.61 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 1.20 and a beta of 1.31.
In other FedEx news, Director Amy B. Lane bought 280 shares of the stock in a transaction dated Tuesday, January 3rd. The stock was bought at an average cost of $175.83 per share, for a total transaction of $49,232.40. Following the completion of the purchase, the director now owns 1,529 shares in the company, valued at approximately $268,844.07. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.62% of the stock is currently owned by corporate insiders.
Institutional Trading of FedEx
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in FedEx by 1.2% in the third quarter. Vanguard Group Inc. now owns 18,835,505 shares of the shipping service provider’s stock worth $2,796,508,000 after purchasing an additional 220,183 shares during the period. Dodge & Cox boosted its holdings in FedEx by 0.6% during the second quarter. Dodge & Cox now owns 17,426,647 shares of the shipping service provider’s stock worth $3,950,795,000 after buying an additional 98,022 shares during the last quarter. BlackRock Inc. boosted its holdings in FedEx by 2.9% during the third quarter. BlackRock Inc. now owns 16,818,843 shares of the shipping service provider’s stock worth $2,497,094,000 after buying an additional 469,345 shares during the last quarter. Primecap Management Co. CA lifted its holdings in shares of FedEx by 3.3% during the 3rd quarter. Primecap Management Co. CA now owns 13,878,717 shares of the shipping service provider’s stock valued at $2,060,573,000 after purchasing an additional 445,125 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of FedEx by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,234,930 shares of the shipping service provider’s stock valued at $732,448,000 after purchasing an additional 35,946 shares in the last quarter. 72.02% of the stock is currently owned by institutional investors and hedge funds.
FedEx Corp. provides a broad portfolio of transportation, e-commerce and business services under the FedEx brand. 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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