FedEx (NYSE:FDX) Price Target Raised to $290.00 at JPMorgan Chase & Co.

FedEx (NYSE:FDX) had its target price increased by JPMorgan Chase & Co. from $260.00 to $290.00 in a report published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the shipping service provider’s stock.

FDX has been the topic of a number of other research reports. Susquehanna raised their price objective on FedEx from $290.00 to $295.00 and gave the company a “positive” rating in a research report on Wednesday. Stephens reaffirmed an “overweight” rating and set a $300.00 price objective on shares of FedEx in a research report on Tuesday, May 20th. Loop Capital downgraded FedEx from a “hold” rating to a “sell” rating and dropped their price objective for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Citigroup dropped their price objective on FedEx from $305.00 to $267.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Finally, Bank of America dropped their price objective on FedEx from $272.00 to $270.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $285.75.

FedEx Stock Performance

Shares of FedEx stock opened at $222.07 on Wednesday. The firm has a market cap of $53.21 billion, a P/E ratio of 13.16, a P/E/G ratio of 1.15 and a beta of 1.35. The company has a current ratio of 1.24, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx has a 12 month low of $194.30 and a 12 month high of $313.84. The stock’s fifty day moving average price is $219.48 and its 200-day moving average price is $243.71.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, beating the consensus estimate of $5.98 by $0.09. The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $21.86 billion. FedEx had a return on equity of 16.54% and a net margin of 4.65%. During the same quarter last year, the firm posted $5.41 earnings per share. On average, equities research analysts expect that FedEx will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be issued a $1.45 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This is an increase from FedEx’s previous quarterly dividend of $1.38. This represents a $5.80 dividend on an annualized basis and a yield of 2.61%. FedEx’s payout ratio is presently 36.39%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Transce3nd LLC acquired a new position in FedEx in the fourth quarter valued at approximately $26,000. Pilgrim Partners Asia Pte Ltd acquired a new position in FedEx in the fourth quarter valued at approximately $28,000. Runnymede Capital Advisors Inc. acquired a new position in FedEx in the fourth quarter valued at approximately $32,000. Accredited Wealth Management LLC acquired a new position in FedEx in the fourth quarter valued at approximately $35,000. Finally, Optiver Holding B.V. acquired a new position in FedEx in the fourth quarter valued at approximately $39,000. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Company Profile

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.