Citigroup Increases FedEx (NYSE:FDX) Price Target to $278.00

FedEx (NYSE:FDX - Get Free Report) had its price objective increased by equities research analysts at Citigroup from $259.00 to $278.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the shipping service provider's stock. Citigroup's price target points to a potential upside of 17.56% from the company's current price.

FDX has been the subject of a number of other reports. Sanford C. Bernstein dropped their price target on FedEx from $282.00 to $249.00 and set a "market perform" rating for the company in a research report on Friday, June 13th. Oppenheimer restated a "market perform" rating on shares of FedEx in a research report on Friday, March 21st. UBS Group dropped their price target on FedEx from $311.00 to $297.00 and set a "buy" rating for the company in a research report on Wednesday, June 25th. JPMorgan Chase & Co. upped their price target on FedEx from $260.00 to $290.00 and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Finally, Loop Capital lowered FedEx from a "hold" rating to a "sell" rating and dropped their price target for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $283.25.

FedEx Price Performance

NYSE:FDX traded down $2.24 during trading hours on Wednesday, hitting $236.47. 1,937,722 shares of the stock were exchanged, compared to its average volume of 1,858,827. FedEx has a 52-week low of $194.30 and a 52-week high of $313.84. The firm's fifty day moving average price is $224.41 and its 200 day moving average price is $240.61. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The company has a market cap of $56.66 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.25 and a beta of 1.35.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, topping the consensus estimate of $5.98 by $0.09. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The company had revenue of $22.20 billion during the quarter, compared to analyst estimates of $21.86 billion. During the same period in the previous year, the business earned $5.41 EPS. As a group, equities research analysts anticipate that FedEx will post 19.14 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Paul S. Walsh sold 3,610 shares of FedEx stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total value of $860,226.90. Following the completion of the transaction, the director directly owned 15,513 shares in the company, valued at approximately $3,696,592.77. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director R Brad Martin sold 2,123 shares of FedEx stock in a transaction on Monday, July 7th. The shares were sold at an average price of $241.75, for a total value of $513,235.25. Following the completion of the transaction, the director owned 8,935 shares of the company's stock, valued at approximately $2,160,036.25. This trade represents a 19.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,343 shares of company stock worth $2,228,816 over the last 90 days. Corporate insiders own 8.87% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Regal Investment Advisors LLC raised its stake in FedEx by 2.4% in the fourth quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider's stock valued at $451,000 after buying an additional 38 shares in the last quarter. Aviso Financial Inc. raised its stake in FedEx by 1.2% in the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock valued at $957,000 after buying an additional 40 shares in the last quarter. Garner Asset Management Corp raised its stake in FedEx by 0.7% in the fourth quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider's stock valued at $1,659,000 after buying an additional 41 shares in the last quarter. Curi RMB Capital LLC raised its stake in FedEx by 1.3% in the fourth quarter. Curi RMB Capital LLC now owns 3,615 shares of the shipping service provider's stock valued at $1,017,000 after buying an additional 47 shares in the last quarter. Finally, Aaron Wealth Advisors LLC raised its stake in FedEx by 2.6% in the first quarter. Aaron Wealth Advisors LLC now owns 1,875 shares of the shipping service provider's stock valued at $457,000 after buying an additional 48 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

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.