FedEx (NYSE:FDX) Given New $370.00 Price Target at JPMorgan Chase & Co.

FedEx (NYSE:FDX) had its price objective increased by JPMorgan Chase & Co. from $366.00 to $370.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has an overweight rating on the shipping service provider’s stock.

Other equities research analysts have also issued research reports about the company. Loop Capital raised FedEx from a “hold” rating to a “buy” rating and lifted their price target for the stock from $288.00 to $365.00 in a research note on Friday. Wells Fargo & Company boosted their target price on FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday. Citigroup increased their price target on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group lowered their price objective on shares of FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Finally, TD Cowen increased their target price on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $324.88.

FedEx Stock Down 0.1 %

Shares of NYSE FDX opened at $275.73 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The business has a 50-day moving average of $282.71 and a 200-day moving average of $281.85. The firm has a market capitalization of $67.37 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.17 and a beta of 1.18. FedEx has a 12 month low of $234.45 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.99 EPS. Sell-side analysts expect that FedEx will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Monday, December 9th. FedEx’s payout ratio is 34.05%.

Hedge Funds Weigh In On FedEx

A number of institutional investors have recently bought and sold shares of FDX. LRI Investments LLC boosted its position in FedEx by 8.6% during the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after acquiring an additional 36 shares in the last quarter. Ascent Wealth Partners LLC lifted its stake in shares of FedEx by 0.5% in the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after purchasing an additional 36 shares during the period. Detalus Advisors LLC boosted its position in shares of FedEx by 2.4% during the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after purchasing an additional 37 shares in the last quarter. Sachetta LLC grew its stake in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the period. Finally, IVC Wealth Advisors LLC raised its holdings in FedEx by 2.0% in the third quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock worth $533,000 after purchasing an additional 38 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

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.