Wall Street Zen Upgrades FedEx (NYSE:FDX) to Buy

Key Points

• FedEx has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating increased investor confidence.
• Consensus price target for FedEx stock is currently set at $283.25, with various analysts boosting or cutting their price targets.
• Despite some insider selling, institutional investors continue to increase their stakes in FedEx, highlighting ongoing interest from large financial entities.

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

FDX has been the topic of several other reports. Truist Financial reaffirmed a "buy" rating and issued a $275.00 price objective on shares of FedEx in a report on Wednesday, June 25th. Cowen reaffirmed a "buy" rating on shares of FedEx in a report on Wednesday, June 25th. Stephens reaffirmed an "overweight" rating and issued a $300.00 price target on shares of FedEx in a report on Tuesday, May 20th. JPMorgan Chase & Co. upped their price target on shares of FedEx from $260.00 to $290.00 and gave the company an "overweight" rating in a report on Wednesday, June 25th. Finally, UBS Group lowered their price target on shares of FedEx from $311.00 to $297.00 and set a "buy" rating on the stock in a report on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, FedEx has an average rating of "Moderate Buy" and an average price target of $283.25.

FedEx Stock Performance

Shares of FDX traded up $6.77 during trading hours on Friday, reaching $243.28. 1,811,699 shares of the company traded hands, compared to its average volume of 1,994,019. 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 business has a fifty day moving average price of $227.02 and a 200-day moving average price of $237.07. FedEx has a 12-month low of $194.29 and a 12-month high of $308.53. The stock has a market capitalization of $57.39 billion, a P/E ratio of 14.41, a P/E/G ratio of 1.23 and a beta of 1.35.

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

Insider Buying and Selling

In related news, Director R Brad Martin sold 2,123 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $241.75, for a total transaction 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul S. Walsh sold 3,610 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total transaction of $860,226.90. Following the transaction, the director directly owned 15,513 shares of the company's stock, valued at $3,696,592.77. The trade was a 18.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,343 shares of company stock valued at $2,228,816. Company insiders own 8.87% of the company's stock.

Hedge Funds Weigh In On FedEx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock worth $514,000 after acquiring an additional 207 shares in the last quarter. NEOS Investment Management LLC increased its holdings in FedEx by 28.5% in the fourth quarter. NEOS Investment Management LLC now owns 11,183 shares of the shipping service provider's stock valued at $3,146,000 after buying an additional 2,483 shares during the last quarter. Blair William & Co. IL raised its stake in FedEx by 2.2% in the fourth quarter. Blair William & Co. IL now owns 27,870 shares of the shipping service provider's stock valued at $7,841,000 after buying an additional 593 shares in the last quarter. DnB Asset Management AS raised its stake in FedEx by 0.4% in the fourth quarter. DnB Asset Management AS now owns 61,826 shares of the shipping service provider's stock valued at $17,394,000 after buying an additional 249 shares in the last quarter. Finally, Allstate Corp purchased a new stake in FedEx during the 4th quarter worth about $1,934,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

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.