JPMorgan Chase & Co. Has Lowered Expectations for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX) had its target price dropped by investment analysts at JPMorgan Chase & Co. from $372.00 to $323.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the shipping service provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 22.76% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Piper Sandler cut shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Stephens reduced their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Bank of America increased their target price on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, Loop Capital lowered shares of FedEx from a “buy” rating to a “hold” rating and lowered their price target for the stock from $365.00 to $283.00 in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, FedEx has an average rating of “Moderate Buy” and an average price target of $319.74.

FedEx Price Performance

Shares of NYSE FDX opened at $263.11 on Monday. The business has a 50 day simple moving average of $268.78 and a 200-day simple moving average of $277.32. FedEx has a twelve month low of $242.92 and a twelve month high of $313.84. The company has a market capitalization of $63.37 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 1.11 and a beta of 1.18. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last released its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same quarter in the previous year, the firm earned $3.99 earnings per share. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities research analysts expect that FedEx will post 19.14 earnings per share for the current year.

Insider Transactions at FedEx

In other news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the transaction, 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 is accessible through this link. Also, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the sale, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Institutional Investors Weigh In On FedEx

Several large investors have recently modified their holdings of FDX. Fortitude Family Office LLC raised its position in shares of FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 52 shares during the period. Transce3nd LLC purchased a new position in FedEx in the 4th quarter worth about $26,000. Peoples Financial Services CORP. acquired a new stake in FedEx during the 4th quarter worth about $28,000. City Holding Co. purchased a new stake in FedEx during the fourth quarter valued at about $28,000. Finally, Kentucky Trust Co acquired a new position in shares of FedEx in the fourth quarter worth about $28,000. 84.47% of the stock is owned by 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.