FedEx (NYSE:FDX) Given New $400.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered its FedEx price target from $460 to $400 while maintaining an “overweight” rating, implying roughly 26% upside from the prior close.
• Analyst sentiment remains broadly positive, with FedEx carrying a “Moderate Buy” consensus rating and an average price target of $348.32, despite several recent target reductions.
• FedEx shares traded at $317.41, while the company reported quarterly earnings of $5.88 per share on $23.26 billion in revenue; institutional investors own approximately 84.47% of the stock.

FedEx (NYSE:FDX - Get Free Report) had its price target lowered by JPMorgan Chase & Co. from $460.00 to $400.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an "overweight" rating on the shipping service provider's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 26.02% from the company's previous close.

A number of other analysts have also recently weighed in on the stock. Evercore set a $165.00 price target on shares of FedEx in a report on Friday, June 26th. Stifel Nicolaus lowered their price objective on shares of FedEx from $442.00 to $326.00 and set a "buy" rating for the company in a research note on Wednesday, June 24th. Citizens Jmp began coverage on FedEx in a research note on Wednesday, July 15th. They issued a "market outperform" rating and a $375.00 target price for the company. Wall Street Zen upgraded FedEx to a "hold" rating in a research note on Saturday, August 8th. Finally, UBS Group reduced their price target on shares of FedEx from $445.00 to $350.00 and set a "buy" rating for the company in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $348.32.

FedEx Price Performance

Shares of NYSE FDX traded down $5.11 during mid-day trading on Tuesday, hitting $317.41. 298,733 shares of the company's stock traded hands, compared to its average volume of 2,103,523. The company's 50-day moving average is $319.29 and its two-hundred day moving average is $348.55. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. FedEx has a 1 year low of $177.86 and a 1 year high of $345.36. The company has a market capitalization of $75.12 billion, a P/E ratio of 17.14, a PEG ratio of 1.71 and a beta of 1.32.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The company had revenue of $23.26 billion for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. On average, equities analysts anticipate that FedEx will post 17.6 EPS for the current fiscal year.

Insider Activity at FedEx

In related news, Director Paul Walsh sold 5,042 shares of FedEx stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the transaction, the director owned 16,359 shares in the company, valued at $5,309,477.04. The trade was a 23.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is owned by company insiders.

Institutional Trading of FedEx

Several institutional investors have recently modified their holdings of FDX. Hollencrest Capital Management acquired a new stake in shares of FedEx in the 1st quarter worth $25,000. Bayban acquired a new position in FedEx in the first quarter valued at about $26,000. Solstein Capital LLC purchased a new position in FedEx during the second quarter worth about $27,000. EFG International AG acquired a new stake in shares of FedEx during the fourth quarter valued at about $27,000. Finally, Wealth Watch Advisors INC purchased a new stake in shares of FedEx in the 3rd quarter valued at approximately $28,000. Institutional investors and hedge funds own 84.47% of the company's stock.

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.

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