FedEx (NYSE:FDX) Price Target Cut to $280.00 by Analysts at JPMorgan Chase & Co.

FedEx (NYSE:FDX) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $323.00 to $280.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the shipping service provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 23.59% from the company’s current price.

Several other research analysts have also issued reports on the stock. Bank of America decreased their price target on shares of FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a research report on Friday. Loop Capital cut FedEx from a “hold” rating to a “sell” rating and decreased their target price for the stock from $283.00 to $221.00 in a report on Friday. BMO Capital Markets cut their price objective on FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a report on Friday. Stephens dropped their target price on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of FedEx in a report on Friday, March 7th. They set a “buy” rating and a $337.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have issued 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 has an average rating of “Moderate Buy” and an average price target of $302.20.

FedEx Stock Performance

NYSE:FDX traded down $19.65 during mid-day trading on Friday, hitting $226.56. The stock had a trading volume of 4,849,929 shares, compared to its average volume of 1,703,509. 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 has a 50 day simple moving average of $260.76 and a 200-day simple moving average of $273.11. The stock has a market capitalization of $54.57 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx has a 52 week low of $217.49 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last posted 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 return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same period in the previous year, the company earned $3.86 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, research analysts expect that FedEx will post 19.14 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On FedEx

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in FedEx by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock worth $5,682,727,000 after purchasing an additional 56,236 shares during the period. Dodge & Cox increased its stake in FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock valued at $3,907,568,000 after acquiring an additional 734,268 shares during the period. Geode Capital Management LLC raised its position in FedEx by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock worth $1,350,686,000 after purchasing an additional 109,006 shares in the last quarter. Franklin Resources Inc. lifted its stake in FedEx by 8.1% during the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock worth $1,209,338,000 after purchasing an additional 323,115 shares during the period. Finally, Invesco Ltd. boosted its holdings in FedEx by 4.1% during the fourth quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider’s stock valued at $906,165,000 after purchasing an additional 127,044 shares in the last quarter. 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.