The Goldman Sachs Group, Inc. initiated coverage on shares of FedEx Corporation (NYSE:FDX) in a report released on Monday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $270.00 price objective on the shipping service provider’s stock.
Several other research analysts also recently weighed in on FDX. Cowen and Company reissued a buy rating and issued a $240.00 target price on shares of FedEx Corporation in a research note on Thursday, August 10th. Zacks Investment Research upgraded FedEx Corporation from a sell rating to a hold rating in a report on Wednesday, November 8th. Oppenheimer Holdings, Inc. restated a buy rating and issued a $229.00 price target on shares of FedEx Corporation in a report on Wednesday, September 20th. BidaskClub cut FedEx Corporation from a strong-buy rating to a buy rating in a report on Monday, July 31st. Finally, Stifel Nicolaus reiterated a hold rating and set a $221.00 target price (up from $216.00) on shares of FedEx Corporation in a research note on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have given a buy rating to the company. FedEx Corporation presently has an average rating of Buy and a consensus target price of $230.21.
Shares of FedEx Corporation (FDX) opened at $217.91 on Monday. FedEx Corporation has a 1 year low of $182.89 and a 1 year high of $231.35. The company has a quick ratio of 1.57, a current ratio of 1.63 and a debt-to-equity ratio of 0.91. The company has a market cap of $57,504.27, a PE ratio of 18.01, a P/E/G ratio of 1.35 and a beta of 1.37.
FedEx Corporation (NYSE:FDX) last released its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.66). FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The business had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.35 billion. During the same quarter in the prior year, the firm earned $2.90 earnings per share. FedEx Corporation’s quarterly revenue was up 4.1% on a year-over-year basis. analysts anticipate that FedEx Corporation will post 12.47 earnings per share for the current fiscal year.
In related news, CEO Michael L. Ducker sold 14,964 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $225.85, for a total value of $3,379,619.40. Following the completion of the sale, the chief executive officer now owns 53,397 shares in the company, valued at $12,059,712.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kim Jabal sold 3,980 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $225.55, for a total value of $897,689.00. Following the completion of the sale, the director now owns 6,080 shares of the company’s stock, valued at approximately $1,371,344. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,094 shares of company stock valued at $9,024,637. 8.45% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of FDX. BlackRock Inc. grew its stake in FedEx Corporation by 1,912.1% in the first quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock valued at $2,892,768,000 after acquiring an additional 14,086,601 shares during the period. Harbour Capital Advisors LLC boosted its position in shares of FedEx Corporation by 21,011.5% during the second quarter. Harbour Capital Advisors LLC now owns 1,424,815 shares of the shipping service provider’s stock worth $6,556,000 after buying an additional 1,418,066 shares during the period. Davis Selected Advisers boosted its position in shares of FedEx Corporation by 265.4% during the second quarter. Davis Selected Advisers now owns 1,684,618 shares of the shipping service provider’s stock worth $366,118,000 after buying an additional 1,223,646 shares during the period. Vanguard Group Inc. boosted its position in shares of FedEx Corporation by 5.4% during the first quarter. Vanguard Group Inc. now owns 17,997,225 shares of the shipping service provider’s stock worth $3,512,158,000 after buying an additional 918,896 shares during the period. Finally, Janus Henderson Group PLC boosted its position in shares of FedEx Corporation by 381.6% during the second quarter. Janus Henderson Group PLC now owns 883,117 shares of the shipping service provider’s stock worth $191,934,000 after buying an additional 699,728 shares during the period. 76.22% of the stock is owned by hedge funds and other institutional investors.
About FedEx Corporation
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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