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

FedEx (NYSE:FDX) had its price objective boosted by JPMorgan Chase & Co. from $350.00 to $366.00 in a research note released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the shipping service provider’s stock.

FDX has been the subject of a number of other research reports. Barclays upped their price target on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Bank of America decreased their target price on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Stifel Nicolaus cut their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a report on Friday, September 20th. BMO Capital Markets reduced their price objective on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 20th. Finally, Citigroup raised their target price on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $316.68.

FedEx Stock Performance

NYSE:FDX opened at $282.85 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. FedEx has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The firm has a market cap of $69.11 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.24 and a beta of 1.18. The business has a 50 day moving average price of $278.90 and a 200-day moving average price of $279.57.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same period in the previous year, the company earned $4.55 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. Equities research analysts predict that FedEx will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.95%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is 34.05%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. International Assets Investment Management LLC increased its holdings in FedEx by 473.8% in the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after buying an additional 647,926 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after acquiring an additional 578,350 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of FedEx by 8.6% in the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after acquiring an additional 314,380 shares during the period. World Investment Advisors LLC raised its holdings in shares of FedEx by 2,163.7% during the third quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock valued at $52,667,000 after purchasing an additional 183,940 shares during the last quarter. Finally, Ceredex Value Advisors LLC lifted its position in FedEx by 77.8% during the third quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock valued at $101,022,000 after purchasing an additional 161,022 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Company Profile

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.