FedEx (NYSE:FDX) Given New $330.00 Price Target at Barclays

FedEx (NYSE:FDX) had its price target trimmed by Barclays from $350.00 to $330.00 in a report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the shipping service provider’s stock.

A number of other equities research analysts have also issued reports on FDX. Citigroup reduced their price target on FedEx from $305.00 to $267.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Stephens reaffirmed an “overweight” rating and issued a $300.00 target price on shares of FedEx in a report on Tuesday, May 20th. Bank of America cut their price target on FedEx from $272.00 to $270.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. JPMorgan Chase & Co. dropped their price target on FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Finally, Truist Financial lowered their price target on FedEx from $305.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $295.33.

FedEx Price Performance

FDX opened at $219.81 on Tuesday. The stock’s 50-day moving average price is $217.28 and its 200 day moving average price is $251.18. FedEx has a 12-month low of $194.30 and a 12-month high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm has a market cap of $52.67 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.11 and a beta of 1.35.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.86 EPS. As a group, sell-side analysts expect that FedEx will post 19.14 earnings per share for the current year.

Insider Buying and Selling at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.87% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FedEx

Large investors have recently made changes to their positions in the company. bLong Financial LLC acquired a new position in FedEx during the 4th quarter valued at about $391,000. Lodestone Wealth Management LLC acquired a new position in shares of FedEx during the fourth quarter valued at approximately $461,000. U.S. Capital Wealth Advisors LLC increased its position in shares of FedEx by 28.7% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 7,598 shares of the shipping service provider’s stock valued at $2,138,000 after purchasing an additional 1,694 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of FedEx by 57.9% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,540 shares of the shipping service provider’s stock valued at $2,965,000 after purchasing an additional 3,867 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of FedEx by 33.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,156 shares of the shipping service provider’s stock valued at $5,371,000 after purchasing an additional 4,792 shares during the period. Institutional investors and hedge funds 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.