JPMorgan Chase & Co. Cuts FedEx (NYSE:FDX) Price Target to $400.00

FedEx (NYSE:FDX) had its target price lowered by JPMorgan Chase & Co. from $460.00 to $400.00 in a report released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the shipping service provider’s stock.

Several other equities research analysts have also issued reports on the company. Citizens Jmp initiated coverage on FedEx in a research report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 target price for the company. HSBC cut their price target on shares of FedEx from $360.00 to $289.89 and set a “hold” rating on the stock in a report on Monday, June 1st. Raymond James Financial set a $330.00 price objective on shares of FedEx in a report on Friday, August 28th. Deutsche Bank Aktiengesellschaft lowered shares of FedEx from a “buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Finally, Stifel Nicolaus dropped their target price on shares of FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $355.17.

FedEx Price Performance

Shares of NYSE FDX opened at $311.35 on Tuesday. The company has a market capitalization of $73.69 billion, a PE ratio of 16.82, a PEG ratio of 1.65 and a beta of 1.32. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The stock’s 50 day moving average price is $319.19 and its 200-day moving average price is $347.01. FedEx has a twelve month low of $177.86 and a twelve month high of $345.36.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The company had revenue of $23.26 billion during the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. On average, equities analysts anticipate that FedEx will post 17.55 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be issued a $1.22 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $4.88 annualized dividend and a yield of 1.6%. FedEx’s dividend payout ratio (DPR) is 26.36%.

Insider Transactions at FedEx

In related news, Director Paul Walsh sold 5,042 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the sale, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On FedEx

Several large investors have recently modified their holdings of the business. California State Teachers Retirement System boosted its holdings in FedEx by 37,961.3% in the 2nd quarter. California State Teachers Retirement System now owns 98,431,789 shares of the shipping service provider’s stock worth $30,821,946,000 after buying an additional 98,173,175 shares during the period. BlackRock Inc. purchased a new position in FedEx in the 2nd quarter valued at approximately $6,508,103,000. Primecap Management Co. CA bought a new stake in FedEx during the 2nd quarter valued at $2,554,138,000. Norges Bank bought a new stake in FedEx during the 4th quarter valued at $859,085,000. Finally, Boston Partners purchased a new stake in shares of FedEx during the third quarter worth $468,195,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx News Summary

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx launched Global Trade Navigator, a suite of digital tools that helps businesses plan international shipments, estimate duties and taxes, manage customs requirements, use APIs, and display import costs through Shopify. The offering could reduce shipping friction, improve customer transparency, and strengthen FedEx’s value proposition for international commerce. FedEx Enhances Global Trade With New Digital Shipping Tools
• Positive Sentiment: FedEx has outperformed other logistics and supply-chain stocks over the past year, while analysts remain moderately bullish on its outlook. Evercore ISI also raised its price target to $350 from $323, although it maintained an “In Line” rating. How Is FedEx’s Stock Performance Compared to Other Logistics Stocks
• Neutral Sentiment: FedEx is scheduled to report quarterly earnings on Thursday. The report may provide an important catalyst as investors assess demand, margins, cost controls, and management’s outlook. FedEx to Post Quarterly Earnings on Thursday
• Neutral Sentiment: FedEx’s Asia Pacific, Middle East, India and Africa technology chief is leaving to become DFDS’s chief digital and information officer. The leadership change appears limited in immediate financial impact, but it may draw attention to FedEx’s technology execution. DFDS Appoints New Chief Digital and Information Officer
• Negative Sentiment: JPMorgan lowered its expectations for FedEx’s stock price, creating a counterweight to Evercore’s more optimistic target increase. The differing views highlight uncertainty ahead of earnings. JPMorgan Chase Lowers Expectations for FedEx Stock Price

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global transportation, e-commerce and business services company. Through its operating companies, FedEx provides package delivery, freight transportation, logistics, supply chain management and related services for businesses, governments and consumers.

The company’s offerings include time-definite express shipping, ground delivery, less-than-truckload freight transportation, customs and international trade support, warehousing, fulfillment and other logistics solutions.