JPMorgan Chase & Co. Cuts FedEx (NYSE:FDX) Price Target to $400.00

FedEx (NYSE:FDX ) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $460.00 to $400.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an 'overweight' rating on the shipping service provider's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 26.02% from the stock's previous close. FDX has been the topic of a number of other reports. Evercore set a $165.00 target price on FedEx in a research report on Friday, June 26th. Raymond James Financial set a $330.00 price target on FedEx in a research note on Friday, August 28th. TD Cowen decreased their price objective on shares of FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. BNP Paribas Exane lowered their price objective on shares of FedEx from $335.00 to $269.76 and set a 'neutral' rating on the stock in a research note on Tuesday, June 2nd. Finally, Barclays dropped their target price on shares of FedEx from $450.00 to $425.00 and set an 'overweight' rating for the company in a report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of 'Moderate Buy' and a consensus target price of $348.32. Check Out Our Latest Stock Report on FDX FedEx (NYSE:FDX ) last posted its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. The firm had revenue of $23.26 billion during the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. On average, analysts expect that FedEx will post 17.6 earnings per share for the current year. In other FedEx news, Director Paul Walsh sold 5,042 shares of FedEx stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the transaction, the director owned 16,359 shares in the company, valued at $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.65% of the stock is currently owned by corporate insiders. Several institutional investors and hedge funds have recently modified their holdings of the stock. Hollencrest Capital Management acquired a new position in shares of FedEx in the 1st quarter valued at approximately $25,000. Bayban acquired a new stake in FedEx during the first quarter valued at approximately $26,000. Solstein Capital LLC acquired a new position in shares of FedEx in the 2nd quarter worth approximately $27,000. EFG International AG acquired a new stake in shares of FedEx during the 4th quarter valued at approximately $27,000. Finally, Wealth Watch Advisors INC acquired a new stake in shares of FedEx during the third quarter worth $28,000. Hedge funds and other institutional investors own 84.47% of the company's stock. 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.