JPMorgan Chase & Co. Issues Pessimistic Forecast for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX - Free Report) had its price target cut by JPMorgan Chase & Co. from $323.00 to $280.00 in a research report released on Friday morning,Benzinga reports. They currently have an overweight rating on the shipping service provider's stock.

FDX has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of FedEx in a research report on Friday, March 7th. They issued a "buy" rating and a $337.00 price objective for the company. Sanford C. Bernstein lowered FedEx from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. BMO Capital Markets decreased their target price on FedEx from $330.00 to $275.00 and set a "market perform" rating for the company in a research report on Friday. Raymond James dropped their target price on FedEx from $320.00 to $290.00 and set an "outperform" rating on the stock in a report on Friday. Finally, StockNews.com upgraded FedEx from a "hold" rating to a "buy" rating in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $300.60.

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FedEx Trading Down 0.5 %

Shares of FDX traded down $1.13 during trading hours on Friday, hitting $241.19. The stock had a trading volume of 2,668,902 shares, compared to its average volume of 1,686,039. The company's fifty day simple moving average is $258.58 and its 200 day simple moving average is $271.75. FedEx has a 12-month low of $217.22 and a 12-month 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 firm has a market cap of $58.09 billion, a P/E ratio of 15.37, a P/E/G ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. The business's revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.86 earnings per share. Equities research analysts forecast that FedEx will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.29%. FedEx's dividend payout ratio (DPR) is 34.63%.

Insider Activity

In related news, Director Amy B. Lane purchased 333 shares of the business's stock in a transaction that occurred on 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 acquisition, the director now owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the business's stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now owns 8,904 shares of the company's stock, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.87% of the company's stock.

Institutional Investors Weigh In On FedEx

A number of hedge funds have recently added to or reduced their stakes in the stock. bLong Financial LLC acquired a new stake in shares of FedEx in the 4th quarter worth about $391,000. Virtu Financial LLC bought a new position in FedEx in the 3rd quarter worth about $3,405,000. Lodestone Wealth Management LLC acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $461,000. Wedmont Private Capital raised its holdings in shares of FedEx by 4.1% during the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider's stock valued at $631,000 after buying an additional 91 shares during the last quarter. Finally, GFS Advisors LLC bought a new stake in shares of FedEx during the fourth quarter valued at approximately $26,855,000. 84.47% of the stock is currently owned by institutional investors.

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.