JPMorgan Chase & Co. Lowers FedEx (NYSE:FDX) Price Target to $323.00

FedEx (NYSE:FDX) had its price objective lowered by JPMorgan Chase & Co. from $372.00 to $323.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the shipping service provider’s stock.

A number of other analysts have also weighed in on FDX. BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Stifel Nicolaus cut their target price on shares of FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Loop Capital lowered shares of FedEx from a “buy” rating to a “hold” rating and cut their target price for the stock from $365.00 to $283.00 in a research note on Monday, February 3rd. Finally, Raymond James lowered shares of FedEx from an “outperform” rating to a “market perform” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $319.74.

FedEx Stock Up 1.2 %

Shares of FDX opened at $250.64 on Monday. The stock has a market capitalization of $60.37 billion, a PE ratio of 15.97, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx has a 1 year low of $242.92 and a 1 year high of $313.84. 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 company’s 50-day simple moving average is $267.66 and its 200-day simple moving average is $276.69.

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 the consensus estimate of $3.88 by $0.17. The business had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.99 earnings per share. Analysts forecast that FedEx will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is presently 35.18%.

Insider Buying and Selling

In other FedEx news, Director Amy B. Lane bought 333 shares of FedEx stock in a transaction on Thursday, December 26th. The stock was bought at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the acquisition, the director now owns 333 shares in the company, valued at $91,927.98. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John W. Dietrich bought 1,000 shares of FedEx stock in a transaction on Tuesday, January 7th. The stock was acquired at an average cost of $273.98 per share, with a total value of $273,980.00. Following the acquisition, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This trade represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company’s stock.

Institutional Investors Weigh In On FedEx

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fortitude Family Office LLC raised its stake in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after buying an additional 52 shares during the last quarter. Transce3nd LLC acquired a new position in shares of FedEx during the 4th quarter worth $26,000. Peoples Financial Services CORP. acquired a new position in shares of FedEx during the 4th quarter worth $28,000. City Holding Co. purchased a new stake in FedEx during the 4th quarter worth about $28,000. Finally, Kentucky Trust Co purchased a new stake in FedEx during the 4th quarter worth about $28,000. 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.