JPMorgan Chase & Co. Cuts FedEx (NYSE:FDX) Price Target to $280.00

FedEx (NYSE:FDX) had its target price lowered by JPMorgan Chase & Co. from $323.00 to $280.00 in a research report released on Friday,Benzinga reports. The firm currently has an overweight rating on the shipping service provider’s stock.

A number of other research analysts also recently issued reports on FDX. Stifel Nicolaus reduced their price target on shares of FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research report on Friday. Stephens reduced their price target on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Friday. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. Citigroup dropped their price objective on shares of FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Finally, BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and an average target price of $301.67.

FedEx Trading Down 6.5 %

NYSE FDX opened at $230.25 on Friday. The company’s fifty day moving average price is $259.95 and its two-hundred day moving average price is $272.35. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx has a 12 month low of $217.22 and a 12 month high of $313.84. The company has a market capitalization of $55.46 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter in the previous year, the business posted $3.86 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, research analysts predict that FedEx will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.40%. FedEx’s dividend payout ratio (DPR) is 35.18%.

Insider Activity

In other FedEx news, EVP John W. Dietrich acquired 1,000 shares of FedEx stock in a transaction dated Tuesday, January 7th. The stock was bought 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 in the company, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amy B. Lane acquired 333 shares of FedEx stock in a transaction dated Thursday, December 26th. The shares were acquired at an average price of $276.06 per share, with a total value of $91,927.98. Following 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 disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Citizens Financial Group Inc. RI boosted its holdings in shares of FedEx by 3.0% in the third quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after buying an additional 38 shares during the period. Regal Investment Advisors LLC boosted its holdings in shares of FedEx by 2.4% in the fourth quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock worth $451,000 after buying an additional 38 shares during the period. Cetera Trust Company N.A boosted its holdings in shares of FedEx by 0.5% in 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 period. Griffin Asset Management Inc. boosted its holdings in shares of FedEx by 0.4% in the fourth quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock worth $2,916,000 after buying an additional 40 shares during the period. Finally, Aviso Financial Inc. boosted its holdings in shares of FedEx by 1.2% in the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock worth $957,000 after buying an additional 40 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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.