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

FedEx (NYSE:FDX) had its price objective cut by JPMorgan Chase & Co. from $372.00 to $323.00 in a research report released on Monday,Benzinga reports. They currently have an overweight rating on the shipping service provider’s stock.

Other research analysts have also recently issued reports about the company. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Citigroup raised their target price on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. BMO Capital Markets boosted their target price on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Finally, StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. One 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $319.74.

FedEx Stock Down 1.6 %

FDX stock opened at $258.62 on Monday. 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 company’s 50 day moving average is $268.58 and its 200 day moving average is $277.14. The stock has a market cap of $62.29 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 1.11 and a beta of 1.18. FedEx has a 1-year low of $242.92 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last issued its 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 during the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.99 earnings per share. Sell-side analysts predict that FedEx will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is currently 35.18%.

Insider Activity at FedEx

In other FedEx news, Director Amy B. Lane acquired 333 shares of FedEx stock in a transaction dated Thursday, December 26th. The stock was acquired at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the transaction, the director now owns 333 shares in the company, valued at approximately $91,927.98. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the transaction, the chief executive officer now 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 owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FDX. Farther Finance Advisors LLC raised its stake in FedEx by 21.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,669 shares of the shipping service provider’s stock valued at $457,000 after purchasing an additional 298 shares during the period. Chicago Partners Investment Group LLC grew its holdings in shares of FedEx by 3.2% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,639 shares of the shipping service provider’s stock valued at $439,000 after acquiring an additional 51 shares in the last quarter. Princeton Global Asset Management LLC grew its holdings in shares of FedEx by 59.2% during the 3rd quarter. Princeton Global Asset Management LLC now owns 796 shares of the shipping service provider’s stock valued at $218,000 after acquiring an additional 296 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of FedEx during the 3rd quarter valued at $47,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of FedEx by 62.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 44,760 shares of the shipping service provider’s stock valued at $12,250,000 after acquiring an additional 17,129 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Company Profile

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.