FedEx (NYSE:FDX) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Stock analysts at Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx (NYSE:FDX) in a research note issued to investors on Friday, MarketBeat reports. The brokerage set a “buy” rating and a $337.00 price target on the shipping service provider’s stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 32.78% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. TD Cowen lifted their target price on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. Wells Fargo & Company cut their price target on FedEx from $320.00 to $275.00 and set an “equal weight” rating on the stock in a report on Thursday. JPMorgan Chase & Co. decreased their price objective on FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, Bank of America upped their target price on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $318.58.

FedEx Trading Up 1.6 %

Shares of NYSE FDX opened at $253.80 on Friday. The stock has a fifty day simple moving average of $266.55 and a 200-day simple moving average of $276.18. FedEx has a twelve month low of $242.92 and a twelve 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 stock has a market capitalization of $61.13 billion, a PE ratio of 16.18, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same period in the prior year, the firm earned $3.99 earnings per share. The business’s revenue for the quarter was down .7% compared to the same quarter last year. On average, equities analysts forecast that FedEx will post 19.14 earnings per share for the current year.

Insider Buying and Selling at FedEx

In related news, EVP John W. Dietrich purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were purchased at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, the executive vice president now directly owns 9,067 shares in the company, valued at $2,484,176.66. This represents a 12.40 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FedEx

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of FedEx by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock worth $5,682,727,000 after acquiring an additional 56,236 shares during the period. Dodge & Cox boosted its holdings in FedEx by 5.6% in the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock valued at $3,907,568,000 after purchasing an additional 734,268 shares in the last quarter. Geode Capital Management LLC increased its position in FedEx by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock worth $1,350,686,000 after purchasing an additional 109,006 shares during the period. Franklin Resources Inc. raised its stake in shares of FedEx by 8.1% during the 4th quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock worth $1,209,338,000 after buying an additional 323,115 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of FedEx by 4.1% in the 4th quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider’s stock valued at $906,165,000 after buying an additional 127,044 shares during the period. 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.