FedEx (NYSE:FDX) Given New $333.00 Price Target at UBS Group

FedEx (NYSE:FDX) had its price objective reduced by UBS Group from $340.00 to $333.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a buy rating on the shipping service provider’s stock.

A number of other research analysts also recently issued reports on the stock. Jefferies Financial Group boosted their price objective on shares of FedEx from $265.00 to $300.00 and gave the company a hold rating in a research report on Friday, March 22nd. The Goldman Sachs Group upped their price target on shares of FedEx from $291.00 to $324.00 and gave the stock a buy rating in a research note on Friday, March 22nd. Evercore ISI upped their target price on shares of FedEx from $327.00 to $351.00 and gave the company an outperform rating in a research note on Friday, March 22nd. TD Cowen upped their target price on shares of FedEx from $293.00 to $320.00 and gave the company an outperform rating in a research note on Friday, March 22nd. Finally, Morgan Stanley upped their price target on shares of FedEx from $195.00 to $210.00 and gave the company an equal weight rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $300.74.

FedEx Trading Down 0.7 %

Shares of FedEx stock opened at $247.54 on Tuesday. The firm has a market cap of $60.91 billion, a PE ratio of 14.28, a PEG ratio of 1.05 and a beta of 1.23. FedEx has a 1 year low of $213.80 and a 1 year high of $291.27. The company has a 50 day simple moving average of $266.81 and a two-hundred day simple moving average of $256.68. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping the consensus estimate of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same period last year, the firm posted $3.41 earnings per share. The business’s revenue was down 2.1% compared to the same quarter last year. Analysts expect that FedEx will post 17.69 earnings per share for the current fiscal year.

FedEx declared that its board has approved a share repurchase plan on Thursday, March 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the completion of the transaction, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the completion of the transaction, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is currently owned by insiders.

Institutional Trading of FedEx

Several institutional investors and hedge funds have recently made changes to their positions in FDX. Venturi Wealth Management LLC lifted its position in shares of FedEx by 42.5% during the third quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock worth $40,000 after purchasing an additional 45 shares during the last quarter. Dai ichi Life Insurance Company Ltd raised its holdings in shares of FedEx by 136.0% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 14,533 shares of the shipping service provider’s stock valued at $3,850,000 after acquiring an additional 8,376 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of FedEx by 18.4% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 3,909 shares of the shipping service provider’s stock valued at $1,036,000 after acquiring an additional 607 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of FedEx by 387.0% in the third quarter. Larson Financial Group LLC now owns 1,539 shares of the shipping service provider’s stock valued at $408,000 after acquiring an additional 1,223 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of FedEx by 8.8% in the third quarter. US Bancorp DE now owns 109,823 shares of the shipping service provider’s stock valued at $29,095,000 after acquiring an additional 8,922 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

FedEx Company Profile

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.