JPMorgan Chase & Co. Reaffirms Neutral Rating for FedEx (NYSE:FDX)

FedEx (NYSE:FDX)‘s stock had its “neutral” rating restated by equities researchers at JPMorgan Chase & Co. in a research report issued to clients and investors on Tuesday,MarketScreener reports.

A number of other brokerages have also weighed in on FDX. Weiss Ratings lowered shares of FedEx from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, April 29th. Rothschild & Co Redburn upped their price target on shares of FedEx from $317.00 to $371.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Jefferies Financial Group raised their price objective on shares of FedEx from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. TD Cowen lifted their price objective on shares of FedEx from $383.00 to $426.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Finally, Susquehanna boosted their target price on shares of FedEx from $410.00 to $455.00 and gave the company a “positive” rating in a report on Friday, March 20th. Eighteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $398.04.

FedEx Trading Down 1.8%

NYSE:FDX opened at $369.50 on Tuesday. FedEx has a 12 month low of $214.35 and a 12 month high of $404.03. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. The firm’s 50 day moving average is $369.26 and its 200 day moving average is $326.86. The stock has a market capitalization of $88.17 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 1.43 and a beta of 1.29.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, beating the consensus estimate of $4.12 by $1.13. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The business had revenue of $24 billion during the quarter, compared to analyst estimates of $23.44 billion. During the same period in the prior year, the company earned $4.51 earnings per share. FedEx’s revenue was up 8.3% compared to the same quarter last year. Sell-side analysts expect that FedEx will post 19.72 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Susan C. Schwab sold 5,795 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the completion of the transaction, the director owned 10,038 shares of the company’s stock, valued at approximately $3,704,022. The trade was a 36.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kawal Preet sold 4,900 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the completion of the sale, the executive vice president directly owned 10,953 shares in the company, valued at $4,029,499.17. This represents a 30.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 48,104 shares of company stock worth $17,599,006 over the last three months. Corporate insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On FedEx

A number of institutional investors have recently made changes to their positions in FDX. Hollencrest Capital Management bought a new position in FedEx during the first quarter valued at approximately $25,000. Bayban bought a new stake in shares of FedEx in the 1st quarter worth approximately $26,000. Cedar Mountain Advisors LLC boosted its stake in shares of FedEx by 77.4% in the 1st quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 41 shares in the last quarter. EFG International AG bought a new position in shares of FedEx during the 4th quarter valued at $27,000. Finally, Ulland Investment Advisors LLC bought a new position in shares of FedEx during the 4th quarter valued at $29,000. Institutional investors own 84.47% of the company’s stock.

Trending Headlines about FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx’s board approved the spin-off of its FedEx Freight unit, a move that should sharpen the company’s focus on its higher-margin package and air network businesses and could unlock value for shareholders. FedEx Board of Directors Approves Spin-off of FedEx Freight
• Positive Sentiment: The company set the distribution ratio for the freight spinoff at one FedEx Freight share for every two FedEx shares held, and the new Freight entity is expected to begin trading on June 1, giving investors clearer visibility into the transaction timeline. FedEx sets one-for-two share ratio for freight unit spinoff
• Neutral Sentiment: FedEx management said Amazon’s new logistics offering is not a major threat to its business, suggesting the company believes its network and services remain differentiated. FedEx Boss Dismisses Threat From New Amazon Logistics Service
• Neutral Sentiment: Analysts at JPMorgan kept a neutral view on FDX, while Barclays reportedly reiterated a buy rating, indicating Wall Street remains mixed but generally constructive on the stock after the restructuring news. FedEx (NYSE:FDX) Receives “Neutral” Rating from JPMorgan Chase & Co.
• Negative Sentiment: The stock was also described as sliding in the latest session, reflecting some profit-taking or caution even as the broader market rose. FedEx (FDX) Stock Slides as Market Rises: Facts to Know Before You Trade

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.