Robert W. Baird Lowers FedEx (NYSE:FDX) Price Target to $320.00

FedEx (NYSE:FDX) had its price target dropped by equities researchers at Robert W. Baird from $340.00 to $320.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the shipping service provider’s stock. Robert W. Baird’s price objective would indicate a potential upside of 25.67% from the stock’s previous close.

FDX has been the topic of several other research reports. TD Cowen began coverage on FedEx in a research note on Thursday, August 22nd. They set a “buy” rating and a $334.00 price target on the stock. Argus raised their target price on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Bank of America cut their target price on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday. Stephens reiterated an “overweight” rating and issued a $325.00 price target on shares of FedEx in a research report on Wednesday, June 26th. Finally, Oppenheimer restated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $313.38.

FedEx Stock Down 15.2 %

FedEx stock opened at $254.64 on Friday. The stock’s 50 day moving average price is $292.43 and its 200 day moving average price is $275.04. FedEx has a 1-year low of $224.69 and a 1-year high of $313.84. The company has a market cap of $62.66 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same period last year, the company earned $4.55 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. On average, sell-side analysts predict that FedEx will post 20.82 EPS for the current fiscal year.

Insider Activity

In related news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares in the company, valued at $17,634,640.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the sale, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the transaction, the chief executive officer now directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock worth $9,882,355 over the last 90 days. Company insiders own 8.73% of the company’s stock.

Institutional Investors Weigh In On FedEx

Several institutional investors and hedge funds have recently made changes to their positions in FDX. Newbridge Financial Services Group Inc. raised its holdings in shares of FedEx by 93.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 5,741 shares of the shipping service provider’s stock worth $1,721,000 after purchasing an additional 2,777 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of FedEx during the 2nd quarter valued at about $10,018,000. Clearbridge Investments LLC raised its stake in FedEx by 63.9% during the second quarter. Clearbridge Investments LLC now owns 7,917 shares of the shipping service provider’s stock worth $2,374,000 after acquiring an additional 3,087 shares during the period. New Century Financial Group LLC boosted its stake in FedEx by 148.7% in the second quarter. New Century Financial Group LLC now owns 5,293 shares of the shipping service provider’s stock valued at $1,587,000 after acquiring an additional 3,165 shares during the period. Finally, Ariadne Wealth Management LP bought a new position in shares of FedEx during the second quarter valued at approximately $103,000. 84.47% of the stock is owned by institutional investors and hedge funds.

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.