FedEx (NYSE:FDX) Now Covered by Analysts at Truist Financial

Equities researchers at Truist Financial assumed coverage on shares of FedEx (NYSE:FDX - Get Free Report) in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The brokerage set a "buy" rating and a $305.00 price target on the shipping service provider's stock. Truist Financial's price objective points to a potential upside of 25.17% from the company's current price.

FDX has been the subject of a number of other reports. Raymond James downgraded FedEx from an "outperform" rating to a "market perform" rating in a report on Monday, February 3rd. UBS Group raised their price target on shares of FedEx from $311.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Piper Sandler lowered shares of FedEx to a "neutral" rating in a research report on Monday, February 3rd. StockNews.com upgraded shares of FedEx from a "hold" rating to a "buy" rating in a report on Friday, December 20th. Finally, Bank of America lifted their price target on shares of FedEx from $325.00 to $348.00 and gave the company 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, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $318.04.

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FedEx Price Performance

NYSE FDX opened at $243.66 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market cap of $58.69 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.11 and a beta of 1.23. The business has a 50 day simple moving average of $264.35 and a 200 day simple moving average of $275.13. FedEx has a 52-week low of $239.50 and a 52-week high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping analysts' consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm's quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the business posted $3.99 earnings per share. Analysts anticipate that FedEx will post 19.14 earnings per share for the current fiscal year.

Insider Activity at FedEx

In other news, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The shares were acquired at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the transaction, the executive vice president now owns 9,067 shares of the company's stock, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Amy B. Lane acquired 333 shares of the stock in a transaction on Thursday, December 26th. The shares were purchased at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the transaction, the director now owns 333 shares of the company's stock, valued at approximately $91,927.98. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FedEx

Institutional investors have recently modified their holdings of the business. Citizens Financial Group Inc. RI raised its stake in FedEx by 3.0% during the third quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider's stock worth $360,000 after acquiring an additional 38 shares in the last quarter. Regal Investment Advisors LLC increased its position in FedEx by 2.4% during the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider's stock worth $451,000 after purchasing an additional 38 shares in the last quarter. Turtle Creek Wealth Advisors LLC lifted its stake in FedEx by 4.0% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider's stock valued at $279,000 after purchasing an additional 39 shares during the last quarter. Harbour Investments Inc. boosted its position in FedEx by 1.5% in the third quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider's stock valued at $728,000 after buying an additional 40 shares in the last quarter. Finally, Cetera Trust Company N.A grew its stake in shares of FedEx by 0.5% during the fourth quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider's stock worth $2,230,000 after buying an additional 40 shares during the last quarter. 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.

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