FedEx (NYSE:FDX) Receives Neutral Rating from JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. reaffirmed its neutral rating on FedEx, even as other analysts remain more upbeat on the stock.
• FedEx shares were trading around $376.52, near the top of their 52-week range, with a market capitalization of about $89.84 billion.
• The company recently reported strong quarterly results, including EPS of $5.25 versus estimates of $4.12 and revenue of $24 billion, while insiders also sold shares during the quarter.

FedEx (NYSE:FDX - Get Free Report)'s stock had its "neutral" rating reaffirmed by investment analysts at JPMorgan Chase & Co. in a report released on Tuesday,MarketScreener reports.

Other research analysts have also recently issued reports about the stock. BMO Capital Markets raised their target price on shares of FedEx from $400.00 to $410.00 and gave the stock a "market perform" rating in a report on Friday, March 20th. Citigroup increased their price target on FedEx from $327.00 to $401.00 and gave the stock a "buy" rating in a research report on Thursday, February 5th. Bank of America raised their price objective on FedEx from $431.00 to $440.00 and gave the stock a "buy" rating in a research note on Friday, March 20th. Weiss Ratings cut FedEx from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, April 29th. Finally, The Goldman Sachs Group upped their target price on FedEx from $364.00 to $369.00 and gave the company a "buy" rating in a research report on Friday, March 13th. Eighteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $398.04.

FedEx Stock Performance

Shares of FDX stock traded down $2.38 on Tuesday, hitting $376.52. The company's stock had a trading volume of 68,558 shares, compared to its average volume of 1,865,941. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. The stock's 50 day moving average is $369.82 and its 200-day moving average is $324.97. FedEx has a fifty-two week low of $214.35 and a fifty-two week high of $404.03. The company has a market capitalization of $89.84 billion, a PE ratio of 20.03, a PEG ratio of 1.44 and a beta of 1.29.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.12 by $1.13. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The business had revenue of $24 billion during the quarter, compared to analysts' expectations of $23.44 billion. During the same quarter in the previous year, the company earned $4.51 EPS. The business's revenue was up 8.3% on a year-over-year basis. Equities research analysts expect that FedEx will post 19.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Tracy B. Brightman sold 16,959 shares of the company's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the sale, the executive vice president directly owned 11,052 shares in the company, valued at $4,017,070.44. This represents a 60.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kawal Preet sold 4,900 shares of the firm's stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total value of $1,802,661.00. Following the completion of the sale, the executive vice president directly owned 10,953 shares in the company, valued at $4,029,499.17. This trade represents a 30.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,104 shares of company stock valued at $17,599,006 in the last quarter. Corporate insiders own 0.53% of the company's stock.

Hedge Funds Weigh In On FedEx

A number of institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its position in FedEx by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock valued at $514,000 after buying an additional 207 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of FedEx by 78.9% in the 1st quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider's stock valued at $2,514,000 after acquiring an additional 4,548 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of FedEx during the 2nd quarter valued at $586,000. Quantbot Technologies LP acquired a new stake in shares of FedEx during the 2nd quarter valued at $186,000. Finally, Jump Financial LLC bought a new stake in FedEx during the 2nd quarter worth $456,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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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