FedEx (NYSE:FDX – Get Rating) had its price target hoisted by equities researchers at The Goldman Sachs Group from $218.00 to $250.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the shipping service provider’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 13.48% from the company’s previous close.
FDX has been the subject of several other research reports. Stifel Nicolaus upgraded shares of 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 note on Wednesday. Wells Fargo & Company lifted their price target on FedEx from $225.00 to $240.00 and gave the stock an “equal weight” rating in a report on Friday. UBS Group set a $225.00 price objective on FedEx in a research note on Thursday, February 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on FedEx from $190.00 to $217.00 in a research note on Monday, November 28th. Finally, Morgan Stanley raised their price objective on shares of FedEx from $130.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, January 9th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $230.75.
FedEx Stock Performance
Shares of FDX opened at $220.31 on Friday. FedEx has a 52 week low of $141.92 and a 52 week high of $248.76. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.25 and a current ratio of 1.30. The stock has a 50 day moving average price of $201.14 and a two-hundred day moving average price of $181.41. The firm has a market capitalization of $55.61 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.20 and a beta of 1.31.
Insider Activity at FedEx
In other FedEx news, Director Amy B. Lane bought 280 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The shares were acquired at an average cost of $175.83 per share, for a total transaction of $49,232.40. Following the purchase, the director now directly owns 1,529 shares of the company’s stock, valued at $268,844.07. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 8.62% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On FedEx
A number of hedge funds and other institutional investors have recently bought and sold shares of FDX. Rockefeller Capital Management L.P. lifted its holdings in shares of FedEx by 36.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 86,286 shares of the shipping service provider’s stock worth $14,944,000 after acquiring an additional 23,247 shares during the last quarter. Birmingham Capital Management Co. Inc. AL raised its position in FedEx by 5.9% during the fourth quarter. Birmingham Capital Management Co. Inc. AL now owns 16,315 shares of the shipping service provider’s stock valued at $2,826,000 after purchasing an additional 915 shares in the last quarter. North Star Asset Management Inc. lifted its stake in FedEx by 0.6% during the fourth quarter. North Star Asset Management Inc. now owns 71,473 shares of the shipping service provider’s stock worth $12,379,000 after purchasing an additional 442 shares during the last quarter. Lakewood Asset Management LLC purchased a new position in shares of FedEx in the 4th quarter worth about $26,000. Finally, Macquarie Group Ltd. increased its position in shares of FedEx by 4.1% during the 4th quarter. Macquarie Group Ltd. now owns 12,027 shares of the shipping service provider’s stock valued at $2,083,000 after purchasing an additional 474 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.
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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