JPMorgan Chase & Co. Cuts FedEx (NYSE:FDX) Price Target to $399.00

FedEx (NYSE:FDX) had its price target lowered by JPMorgan Chase & Co. from $400.00 to $399.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the shipping service provider’s stock.

FDX has been the topic of several other research reports. Bank of America restated a “buy” rating and set a $140.00 price target on shares of FedEx in a report on Tuesday, September 29th. TD Cowen lowered their price objective on FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. Stephens upgraded shares of FedEx to a “strong-buy” rating in a research note on Wednesday, July 8th. Truist Financial reduced their target price on shares of FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a report on Thursday, June 25th. Finally, Citigroup began coverage on shares of FedEx in a report on Wednesday, July 15th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $354.64.

FedEx Stock Performance

Shares of FDX stock opened at $289.12 on Monday. The firm has a 50 day moving average of $312.21 and a two-hundred day moving average of $337.07. The stock has a market capitalization of $68.43 billion, a PE ratio of 15.62, a P/E/G ratio of 1.54 and a beta of 1.28. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. FedEx has a 52 week low of $179.69 and a 52 week high of $345.36.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The business had revenue of $23.26 billion for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. On average, research analysts predict that FedEx will post 17.55 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 14th were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, September 14th. FedEx’s dividend payout ratio is currently 26.36%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Hollencrest Capital Management acquired a new position in FedEx in the first quarter valued at approximately $25,000. Bayban acquired a new stake in FedEx during the first quarter worth approximately $26,000. Solstein Capital LLC acquired a new stake in FedEx during the second quarter worth approximately $27,000. Cedar Mountain Advisors LLC lifted its position in shares of FedEx by 77.4% during the 1st quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock worth $33,000 after buying an additional 41 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of FedEx during the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Key Headlines Impacting FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: Citigroup raised its price target on FedEx from $359 to $373 and maintained a “buy” rating, implying substantial upside from recent trading levels. Citigroup raises FedEx price target
• Positive Sentiment: JPMorgan maintained its overweight rating while making only a minor adjustment to its price target, lowering it from $400 to $399. JPMorgan adjusts FedEx price target
• Positive Sentiment: FedEx is investing approximately $300 million in 2,000 electric trucks. Manufacturer Harbinger estimates the vehicles could reduce annual fuel costs by about $40 million, a potential benefit as diesel prices remain elevated. FedEx electric truck investment
• Positive Sentiment: FedEx Dataworks and Stripe are partnering to use shipping and operational data to help assess small-business creditworthiness. The collaboration could expand financing access for merchants and create additional value from FedEx’s data assets. Stripe and FedEx small-business lending partnership
• Neutral Sentiment: Stripe and FedEx also plan to add more than 50 payment methods to FedEx checkout options, which may improve convenience and merchant adoption but is not yet a material financial contribution. FedEx and Stripe payment options
• Negative Sentiment: Truist lowered its price target from $365 to $350, although it retained a “buy” rating. The reduction may reinforce investor concerns about near-term performance despite continued long-term optimism. Truist lowers FedEx price target

About FedEx

FedEx Corporation is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, and logistics services for businesses, government organizations and consumers.

The company’s services include domestic and international parcel delivery, less-than-truckload freight transportation, supply chain management, customs and trade assistance, warehousing, fulfillment and other logistics solutions.