The Goldman Sachs Group Increases FedEx (NYSE:FDX) Price Target to $258.00

Posted by Defense World Staff on Apr 8th, 2023

FedEx (NYSE:FDX – Get Rating) had its price target upped by The Goldman Sachs Group from $250.00 to $258.00 in a note issued to investors on Thursday, The Fly reports. The firm currently has a “buy” rating on the shipping service provider’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 11.16% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Citigroup boosted their target price on shares of FedEx from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday. Bank of America boosted their target price on FedEx from $233.00 to $305.00 in a research report on Friday, March 17th. Melius initiated coverage on FedEx in a research note on Monday, March 27th. They set a “hold” rating and a $240.00 price target for the company. Stifel Nicolaus boosted their price target on FedEx from $222.00 to $242.00 in a research note on Friday, March 17th. Finally, Loop Capital boosted their price target on FedEx from $179.00 to $241.00 and gave the company a “hold” rating in a research note on Tuesday, March 21st. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $241.41.

FedEx Trading Up 0.9 %

FDX stock opened at $232.10 on Thursday. The company has a market capitalization of $58.34 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 1.26 and a beta of 1.33. FedEx has a one year low of $141.92 and a one year high of $248.76. The company’s 50 day moving average price is $211.51 and its two-hundred day moving average price is $183.92. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.27 and a current ratio of 1.32.

FedEx (NYSE:FDX – Get Rating) last issued its earnings results on Thursday, March 16th. The shipping service provider reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.74. FedEx had a net margin of 3.23% and a return on equity of 17.71%. The firm had revenue of $22.17 billion for the quarter, compared to analysts’ expectations of $22.74 billion. During the same quarter last year, the business earned $4.59 earnings per share. The business’s revenue was down 6.2% on a year-over-year basis. As a group, analysts predict that FedEx will post 14.94 earnings per share for the current fiscal year.

Insider Transactions at FedEx

In other news, Director Amy B. Lane acquired 830 shares of the firm’s stock in a transaction dated Thursday, April 6th. The shares were acquired at an average cost of $232.88 per share, with a total value of $193,290.40. Following the acquisition, the director now directly owns 2,359 shares of the company’s stock, valued at $549,363.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Amy B. Lane acquired 830 shares of the firm’s stock in a transaction dated Thursday, April 6th. The shares were acquired at an average cost of $232.88 per share, with a total value of $193,290.40. Following the acquisition, the director now directly owns 2,359 shares of the company’s stock, valued at $549,363.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Rajesh Subramaniam sold 11,125 shares of the company’s stock in a transaction that occurred on Thursday, April 6th. The stock was sold at an average price of $231.01, for a total value of $2,569,986.25. Following the sale, the chief executive officer now directly owns 39,483 shares in the company, valued at $9,120,967.83. The disclosure for this sale can be found here. Insiders own 8.62% of the company’s stock.

Institutional Trading of FedEx

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Greylin Investment Management Inc raised its holdings in FedEx by 1.8% during the 1st quarter. Greylin Investment Management Inc now owns 26,912 shares of the shipping service provider’s stock valued at $6,149,000 after buying an additional 468 shares during the period. Mission Wealth Management LP raised its holdings in FedEx by 21.4% during the 1st quarter. Mission Wealth Management LP now owns 3,453 shares of the shipping service provider’s stock valued at $789,000 after buying an additional 608 shares during the period. Diversified Trust Co raised its holdings in FedEx by 1.5% during the 1st quarter. Diversified Trust Co now owns 35,717 shares of the shipping service provider’s stock valued at $8,161,000 after buying an additional 513 shares during the period. Trust Co. of Vermont raised its holdings in FedEx by 5.6% during the 1st quarter. Trust Co. of Vermont now owns 2,923 shares of the shipping service provider’s stock valued at $668,000 after buying an additional 155 shares during the period. Finally, BTC Capital Management Inc. raised its holdings in FedEx by 1.8% during the 1st quarter. BTC Capital Management Inc. now owns 23,257 shares of the shipping service provider’s stock valued at $5,302,000 after buying an additional 416 shares during the period. Hedge funds and other institutional investors own 72.02% of the company’s stock.

About FedEx

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FedEx Corp. provides a broad portfolio of transportation, e-commerce and business services under the FedEx brand. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.