FedEx (NYSE:FDX) Price Target Raised to $278.00

FedEx (NYSE:FDX - Get Free Report) had its price target hoisted by analysts at Citigroup from $259.00 to $278.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the shipping service provider's stock. Citigroup's target price would indicate a potential upside of 16.41% from the company's previous close.

FDX has been the subject of several other research reports. Cfra Research raised shares of FedEx to a "hold" rating in a research report on Thursday, March 20th. BNP Paribas Exane raised shares of FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 price target for the company in a research report on Thursday, July 3rd. Jefferies Financial Group raised shares of FedEx from a "hold" rating to a "buy" rating and dropped their price target for the stock from $300.00 to $275.00 in a research report on Monday, March 24th. Raymond James Financial reaffirmed an "outperform" rating and set a $260.00 price target (down previously from $275.00) on shares of FedEx in a research report on Wednesday, June 25th. Finally, BMO Capital Markets decreased their price objective on shares of FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a research note on Monday, May 19th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $283.25.

FedEx Trading Up 1.0%

Shares of NYSE:FDX traded up $2.29 during trading on Wednesday, reaching $238.80. The stock had a trading volume of 1,940,348 shares, compared to its average volume of 1,859,152. The business has a fifty day moving average price of $224.41 and a 200-day moving average price of $240.61. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68. The stock has a market cap of $57.22 billion, a P/E ratio of 14.15, a PEG ratio of 1.25 and a beta of 1.35. FedEx has a fifty-two week low of $194.30 and a fifty-two week high of $313.84.

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

Insider Activity

In other news, Director Marvin R. Ellison sold 3,610 shares of the business's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total transaction of $855,353.40. Following the sale, the director owned 7,720 shares in the company, valued at $1,829,176.80. The trade was a 31.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R Brad Martin sold 2,123 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $241.75, for a total transaction of $513,235.25. Following the sale, the director owned 8,935 shares of the company's stock, valued at approximately $2,160,036.25. This represents a 19.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,343 shares of company stock worth $2,228,816 over the last 90 days. 8.87% of the stock is owned by company insiders.

Hedge Funds Weigh In On FedEx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Regal Investment Advisors LLC raised its position in FedEx by 2.4% during the fourth quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider's stock valued at $451,000 after acquiring an additional 38 shares in the last quarter. Aviso Financial Inc. raised its position in FedEx by 1.2% during the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock valued at $957,000 after acquiring an additional 40 shares in the last quarter. Garner Asset Management Corp raised its position in FedEx by 0.7% during 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 acquiring an additional 41 shares in the last quarter. Curi RMB Capital LLC raised its position in shares of 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 purchasing an additional 47 shares during the period. Finally, Aaron Wealth Advisors LLC raised its position in shares of 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 purchasing an additional 48 shares during the period. Institutional investors own 84.47% of the company's stock.

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.