Raymond James Financial Cuts FedEx (NYSE:FDX) Price Target to $260.00

FedEx (NYSE:FDX - Get Free Report) had its price objective lowered by Raymond James Financial from $275.00 to $260.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the shipping service provider's stock. Raymond James Financial's target price would suggest a potential upside of 17.37% from the company's current price.

FDX has been the topic of several other research reports. Bank of America lowered their target price on shares of FedEx from $272.00 to $270.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Cfra Research upgraded shares of FedEx to a "hold" rating in a research report on Thursday, March 20th. Oppenheimer reaffirmed a "market perform" rating on shares of FedEx in a research report on Friday, March 21st. Stephens reissued an "overweight" rating and set a $300.00 price target on shares of FedEx in a report on Tuesday, May 20th. Finally, Jefferies Financial Group raised FedEx from a "hold" rating to a "buy" rating and lowered their target price for the company from $300.00 to $275.00 in a report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $286.79.

FedEx Stock Down 3.5%

Shares of FDX traded down $7.99 during mid-day trading on Wednesday, reaching $221.52. The company had a trading volume of 5,051,681 shares, compared to its average volume of 1,928,645. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.24. The company has a market capitalization of $53.08 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 1.15 and a beta of 1.35. The firm has a 50-day moving average price of $219.11 and a 200 day moving average price of $243.86. FedEx has a 52 week low of $194.29 and a 52 week high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last released its earnings results 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 16.00% and a net margin of 4.46%. The business had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.86 billion. During the same period in the previous year, the company posted $5.41 earnings per share. On average, sell-side analysts forecast that FedEx will post 19.14 EPS for the current year.

Insider Activity

In related news, COO John Alan Smith sold 6,155 shares of the stock in a transaction dated 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 owns 23,347 shares in the company, valued at approximately $5,686,161.85. This trade represents a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 8.87% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Regal Investment Advisors LLC lifted its holdings in shares of FedEx by 2.4% in the fourth quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider's stock worth $451,000 after buying an additional 38 shares in the last quarter. Aviso Financial Inc. lifted its stake in FedEx by 1.2% in the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock worth $957,000 after purchasing an additional 40 shares in the last quarter. Garner Asset Management Corp boosted its holdings in shares of FedEx by 0.7% during the 4th quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider's stock valued at $1,659,000 after purchasing an additional 41 shares during the last quarter. Curi RMB Capital LLC grew its position in shares of FedEx by 1.3% during 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 in the last quarter. Finally, Aaron Wealth Advisors LLC increased its holdings 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 worth $457,000 after purchasing an additional 48 shares during the last quarter. 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.

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