FedEx (NYSE:FDX) Given New $260.00 Price Target at Wells Fargo & Company

FedEx (NYSE:FDX) had its price target reduced by equities researchers at Wells Fargo & Company from $275.00 to $260.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the shipping service provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 18.16% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Piper Sandler cut shares of FedEx to a “neutral” rating in a research report on Monday, February 3rd. Loop Capital cut shares of FedEx from a “hold” rating to a “sell” rating and decreased their target price for the stock from $283.00 to $221.00 in a research report on Friday. Truist Financial initiated coverage on shares of FedEx in a research report on Thursday, March 13th. They issued a “buy” rating and a $305.00 target price on the stock. TD Cowen decreased their target price on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. decreased their target price on shares of FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $304.68.

FedEx Stock Down 10.6 %

Shares of NYSE:FDX opened at $220.04 on Friday. The firm has a fifty day moving average price of $260.76 and a two-hundred day moving average price of $273.11. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market cap of $53.00 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 1.11 and a beta of 1.23. FedEx has a one year low of $217.49 and a one year high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The company had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.86 EPS. Analysts anticipate that FedEx will post 19.14 EPS for the current fiscal year.

Insider Transactions at FedEx

In other FedEx news, Director Amy B. Lane purchased 333 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was purchased at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. The trade was a 30.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Institutional Trading of FedEx

Several large investors have recently modified their holdings of FDX. Norges Bank bought a new stake in shares of FedEx in the fourth quarter worth $807,352,000. Raymond James Financial Inc. bought a new stake in shares of FedEx in the fourth quarter worth $234,028,000. Dodge & Cox grew its holdings in shares of FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock worth $3,907,568,000 after acquiring an additional 734,268 shares during the period. Capital Research Global Investors bought a new stake in shares of FedEx in the fourth quarter worth $145,733,000. Finally, ACR Alpine Capital Research LLC grew its holdings in shares of FedEx by 62.9% in the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock worth $239,909,000 after acquiring an additional 329,170 shares during the period. Institutional investors own 84.47% of the company’s stock.

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.