FedEx (NYSE:FDX – Free Report) had its price target cut by JPMorgan Chase & Co. from $400.00 to $399.00 in a research note released on Monday morning,Benzinga reports. They currently have an overweight rating on the shipping service provider’s stock.
Other analysts also recently issued reports about the stock. Sanford C. Bernstein set a $397.00 price target on shares of FedEx in a research report on Wednesday, June 24th. BNP Paribas Exane boosted their target price on FedEx from $269.80 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, September 30th. Truist Financial decreased their price target on FedEx from $425.00 to $365.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. Stifel Nicolaus lowered their price target on FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Finally, Wells Fargo & Company cut their price objective on FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Wednesday, June 17th. 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 assigned a Sell rating to the company. According to MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average target price of $354.68.
FedEx Stock Down 0.3%
FedEx (NYSE:FDX – Get Free Report) last posted its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The firm had revenue of $23.26 billion during the quarter. As a group, sell-side analysts predict that FedEx will post 17.53 EPS for the current year.
FedEx Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 14th were paid a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a yield of 1.7%. FedEx’s dividend payout ratio is currently 26.36%.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. raised its stake in FedEx by 80.7% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 1,536 shares of the shipping service provider’s stock valued at $438,000 after purchasing an additional 686 shares during the period. Polaris Financial Partners acquired a new stake in shares of FedEx in the third quarter worth $96,000. CX Institutional boosted its position in shares of FedEx by 839.8% in the third quarter. CX Institutional now owns 37,056 shares of the shipping service provider’s stock worth $10,564,000 after buying an additional 33,113 shares during the period. QRG Capital Management Inc. grew its holdings in shares of FedEx by 16.5% during the second quarter. QRG Capital Management Inc. now owns 31,373 shares of the shipping service provider’s stock valued at $9,824,000 after buying an additional 4,439 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in FedEx by 5.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 10,163 shares of the shipping service provider’s stock valued at $3,182,000 after buying an additional 558 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.
FedEx Company Profile
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.
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