Citigroup Trims FedEx (NYSE:FDX) Target Price to $165.00

FedEx (NYSE:FDXGet Rating) had its price objective cut by investment analysts at Citigroup from $180.00 to $165.00 in a report issued on Friday, The Fly reports. Citigroup’s price objective suggests a potential upside of 6.77% from the stock’s current price.

A number of other equities research analysts also recently issued reports on FDX. The Goldman Sachs Group cut their price objective on shares of FedEx from $288.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, September 16th. Berenberg Bank set a $200.00 price objective on shares of FedEx in a research report on Tuesday. StockNews.com downgraded shares of FedEx from a “buy” rating to a “hold” rating in a research report on Monday. Robert W. Baird lowered their target price on shares of FedEx from $300.00 to $240.00 and set an “outperform” rating on the stock in a research note on Friday, September 16th. Finally, Evercore ISI lowered their target price on shares of FedEx from $318.00 to $243.00 and set an “outperform” rating on the stock in a research note on Friday, September 16th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $230.91.

FedEx Trading Up 0.8 %

NYSE:FDX opened at $154.54 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.38 and a debt-to-equity ratio of 0.81. FedEx has a 12 month low of $150.34 and a 12 month high of $266.79. The company has a market cap of $40.17 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 0.73 and a beta of 1.21. The company has a 50 day simple moving average of $216.15 and a two-hundred day simple moving average of $216.44.

FedEx (NYSE:FDXGet Rating) last posted its earnings results on Thursday, September 22nd. The shipping service provider reported $3.44 EPS for the quarter, missing analysts’ consensus estimates of $5.14 by ($1.70). FedEx had a return on equity of 22.29% and a net margin of 4.09%. The company had revenue of $23.20 billion during the quarter, compared to the consensus estimate of $23.78 billion. During the same period last year, the firm posted $4.37 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Research analysts forecast that FedEx will post 16.55 earnings per share for the current year.

Insider Transactions at FedEx

In other news, EVP Brie Carere sold 11,235 shares of the business’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $228.85, for a total value of $2,571,129.75. Following the sale, the executive vice president now directly owns 16,366 shares in the company, valued at approximately $3,745,359.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Robert B. Carter sold 12,310 shares of the company’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $230.61, for a total transaction of $2,838,809.10. Following the transaction, the executive vice president now directly owns 54,916 shares in the company, valued at approximately $12,664,178.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brie Carere sold 11,235 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $228.85, for a total transaction of $2,571,129.75. Following the transaction, the executive vice president now owns 16,366 shares in the company, valued at $3,745,359.10. The disclosure for this sale can be found here. Insiders have sold a total of 48,810 shares of company stock worth $11,199,898 in the last three months. Insiders own 8.62% of the company’s stock.

Hedge Funds Weigh In On FedEx

Several hedge funds have recently added to or reduced their stakes in FDX. Schroder Investment Management Group grew its stake in FedEx by 17.9% in the 4th quarter. Schroder Investment Management Group now owns 23,586 shares of the shipping service provider’s stock worth $6,100,000 after acquiring an additional 3,587 shares in the last quarter. Gotham Asset Management LLC grew its stake in FedEx by 252.9% in the 4th quarter. Gotham Asset Management LLC now owns 6,271 shares of the shipping service provider’s stock worth $1,622,000 after acquiring an additional 4,494 shares in the last quarter. IHT Wealth Management LLC grew its stake in FedEx by 5.3% in the 4th quarter. IHT Wealth Management LLC now owns 3,061 shares of the shipping service provider’s stock worth $792,000 after acquiring an additional 154 shares in the last quarter. LPL Financial LLC grew its stake in FedEx by 10.1% in the 4th quarter. LPL Financial LLC now owns 213,051 shares of the shipping service provider’s stock worth $55,104,000 after acquiring an additional 19,572 shares in the last quarter. Finally, Freestone Capital Holdings LLC grew its stake in FedEx by 31.9% in the 4th quarter. Freestone Capital Holdings LLC now owns 7,028 shares of the shipping service provider’s stock worth $1,818,000 after acquiring an additional 1,698 shares in the last quarter. 71.62% of the stock is currently owned by institutional investors.

About FedEx

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

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