JPMorgan Chase & Co. Forecasts Strong Price Appreciation for FedEx (NYSE:FDX) Stock

FedEx (NYSE:FDX) had its price target increased by JPMorgan Chase & Co. from $370.00 to $372.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the shipping service provider’s stock.

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus raised their target price on shares of FedEx from $321.00 to $368.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Robert W. Baird cut their price objective on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Bank of America lifted their target price on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, December 20th. UBS Group increased their price target on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Barclays lifted their price objective on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $325.61.

FedEx Stock Performance

Shares of FDX stock opened at $274.62 on Tuesday. FedEx has a one year low of $234.45 and a one year high of $313.84. The company has a market capitalization of $66.14 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. The company’s 50-day moving average is $283.86 and its 200 day moving average is $284.40. 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 (NYSE:FDX) last released its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.99 earnings per share. Sell-side analysts expect that FedEx will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.01%. The ex-dividend date was Monday, December 9th. FedEx’s payout ratio is 35.18%.

Insider Buying and Selling at FedEx

In other FedEx news, EVP John W. Dietrich purchased 1,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was acquired at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Amy B. Lane bought 333 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the transaction, the director now owns 333 shares in the company, valued at $91,927.98. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

Hedge Funds Weigh In On FedEx

Hedge funds have recently made changes to their positions in the company. Private Advisor Group LLC raised its stake in shares of FedEx by 5.6% in the second quarter. Private Advisor Group LLC now owns 19,551 shares of the shipping service provider’s stock worth $5,862,000 after purchasing an additional 1,042 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of FedEx in the 2nd quarter valued at $110,000. Acadian Asset Management LLC increased its stake in shares of FedEx by 7.5% in the second quarter. Acadian Asset Management LLC now owns 7,268 shares of the shipping service provider’s stock worth $2,177,000 after acquiring an additional 505 shares during the period. Clifford Swan Investment Counsel LLC raised its holdings in shares of FedEx by 28.4% during the second quarter. Clifford Swan Investment Counsel LLC now owns 1,347 shares of the shipping service provider’s stock worth $404,000 after purchasing an additional 298 shares during the last quarter. Finally, Choreo LLC lifted its position in FedEx by 249.5% during the second quarter. Choreo LLC now owns 16,891 shares of the shipping service provider’s stock valued at $5,046,000 after purchasing an additional 12,058 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

About FedEx

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.