FedEx (NYSE:FDX) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded FedEx to a “Hold” rating, while the broader analyst consensus remains “Moderate Buy” with an average price target of $350.54.
• FedEx shares opened at $318.64, up 0.9%, with a market capitalization of $75.39 billion. The company recently reported quarterly EPS of $5.88 on revenue of $23.26 billion.
• Institutional investors own 84.47% of FedEx, while company insiders own 0.53%; director Paul S. Walsh recently sold 5,042 shares for approximately $1.64 million.

FedEx (NYSE:FDX - Get Free Report) was upgraded by analysts at Wall Street Zen to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other research firms have also recently weighed in on FDX. Citizens Jmp started coverage on shares of FedEx in a report on Wednesday, July 15th. They issued a "market outperform" rating and a $375.00 price objective on the stock. Truist Financial reduced their target price on shares of FedEx from $425.00 to $365.00 and set a "buy" rating for the company in a research note on Thursday, June 25th. JPMorgan Chase & Co. restated a "buy" rating on shares of FedEx in a research report on Friday, June 26th. Raymond James Financial dropped their price target on shares of FedEx from $415.00 to $330.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 24th. Finally, Seaport Research Partners started coverage on FedEx in a report on Wednesday, May 27th. They set a "buy" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $350.54.

FedEx Trading Up 0.9%

Shares of NYSE FDX opened at $318.64 on Friday. FedEx has a 12-month low of $176.00 and a 12-month high of $345.36. The company has a market cap of $75.39 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 1.63 and a beta of 1.30. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The stock's 50 day simple moving average is $319.48 and its 200 day simple moving average is $350.25.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The firm had revenue of $23.26 billion during the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. Equities research analysts expect that FedEx will post 17.6 EPS for the current year.

Insider Activity at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the business's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the sale, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.53% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Hollencrest Capital Management acquired a new position in shares of FedEx during the 1st quarter valued at $25,000. Bayban acquired a new stake in shares of FedEx in the first quarter valued at $26,000. EFG International AG bought a new position in FedEx during the fourth quarter valued at about $27,000. Wealth Watch Advisors INC acquired a new position in FedEx during the third quarter worth about $28,000. Finally, Tucker Asset Management LLC acquired a new position in FedEx during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 84.47% of the company's stock.

About FedEx

FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

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