FedEx (NYSE:FDX) Price Target Lowered to $330.00 at Barclays

FedEx (NYSE:FDX - Free Report) had its price target reduced by Barclays from $350.00 to $330.00 in a report released on Tuesday,Benzinga reports. They currently have an overweight rating on the shipping service provider's stock.

FDX has been the subject of several other research reports. Piper Sandler downgraded shares of FedEx to a "neutral" rating in a report on Monday, February 3rd. BMO Capital Markets decreased their target price on FedEx from $275.00 to $260.00 and set a "market perform" rating on the stock in a research note on Monday, May 19th. Bank of America dropped their price target on FedEx from $272.00 to $270.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Stifel Nicolaus reduced their price objective on shares of FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Finally, Oppenheimer restated a "market perform" rating on shares of FedEx in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $295.33.

FedEx Stock Performance

NYSE:FDX traded down $0.83 on Tuesday, hitting $218.95. The stock had a trading volume of 1,436,172 shares, compared to its average volume of 1,832,081. The stock has a market cap of $52.46 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The business's 50-day simple moving average is $217.28 and its two-hundred day simple moving average is $251.18. FedEx has a 52-week low of $194.30 and a 52-week high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). The company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.86 earnings per share. As a group, research analysts predict that FedEx will post 19.14 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 8.87% of the stock is owned by company insiders.

Institutional Trading of FedEx

Several hedge funds have recently modified their holdings of FDX. Transce3nd LLC purchased a new stake in FedEx during the 4th quarter worth approximately $26,000. Kentucky Trust Co purchased a new position in FedEx in the fourth quarter valued at $28,000. Pilgrim Partners Asia Pte Ltd acquired a new position in FedEx in the 4th quarter worth about $28,000. Activest Wealth Management purchased a new position in shares of FedEx during the 4th quarter valued at approximately $29,000. Finally, R Squared Ltd acquired a new stake in shares of FedEx in the fourth quarter valued at about $31,000. 84.47% of the stock is owned by hedge funds and other 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.