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

FedEx (NYSE:FDX - Get Free Report) had its target price decreased by analysts at JPMorgan Chase & Co. from $372.00 to $323.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the shipping service provider's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 29.86% from the stock's previous close.

Several other equities research analysts also recently weighed in on the company. Piper Sandler downgraded FedEx to a "neutral" rating in a report on Monday, February 3rd. Stephens reduced their target price on shares of FedEx from $350.00 to $345.00 and set an "overweight" rating for the company in a research note on Friday, December 20th. Stifel Nicolaus dropped their price target 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 downgraded shares of FedEx from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company boosted their target price on FedEx from $305.00 to $320.00 and gave the stock an "equal weight" rating in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, FedEx presently has a consensus rating of "Moderate Buy" and a consensus price target of $319.74.

FedEx Stock Performance

FedEx stock traded up $0.98 during midday trading on Monday, hitting $248.72. 158,996 shares of the company's stock were exchanged, compared to its average volume of 1,629,260. 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 $59.90 billion, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 1.11 and a beta of 1.18. FedEx has a 12-month low of $242.92 and a 12-month high of $313.84. The firm's 50 day simple moving average is $268.09 and its 200 day simple moving average is $276.88.

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

Insider Transactions at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the company's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares in the company, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.87% of the company's stock.

Institutional Trading of FedEx

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fortitude Family Office LLC grew its position in shares of FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock valued at $25,000 after purchasing an additional 52 shares during the period. Transce3nd LLC acquired a new stake in FedEx in the 4th quarter worth about $26,000. Peoples Financial Services CORP. purchased a new stake in FedEx in the 4th quarter valued at about $28,000. City Holding Co. purchased a new stake in FedEx in the 4th quarter valued at about $28,000. Finally, Kentucky Trust Co acquired a new position in shares of FedEx during the 4th quarter valued at about $28,000. 84.47% of the stock is owned by hedge funds and other 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.