Traders bought shares of FedEx Corp. (NYSE:FDX) on weakness during trading on Wednesday after an insider sold shares in the company. $59.04 million flowed into the stock on the tick-up and $41.35 million flowed out of the stock on the tick-down, for a money net flow of $17.69 million into the stock. Of all stocks tracked, FedEx Corp. had the 36th highest net in-flow for the day. FedEx Corp. traded down ($0.54) for the day and closed at $173.54Specifically, EVP Alan B. Graf, Jr. sold 7,400 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $159.43, for a total value of $1,179,782.00. Following the completion of the sale, the executive vice president now directly owns 150,665 shares in the company, valued at $24,020,520.95. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Christine P. Richards sold 80,080 shares of the business’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $173.59, for a total value of $13,901,087.20. Following the completion of the sale, the executive vice president now owns 98,620 shares of the company’s stock, valued at $17,119,445.80. The disclosure for this sale can be found here. 8.67% of the stock is owned by corporate insiders.
Several equities research analysts have weighed in on the company. Robert W. Baird restated an “outperform” rating and set a $185.00 target price on shares of FedEx Corp. in a research note on Friday, September 23rd. Vetr cut FedEx Corp. from a “buy” rating to a “hold” rating and set a $179.94 target price for the company. in a research note on Tuesday, September 27th. Sanford C. Bernstein set a $159.00 target price on FedEx Corp. and gave the stock a “neutral” rating in a research note on Wednesday, September 21st. Zacks Investment Research upgraded FedEx Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. Finally, Oppenheimer Holdings Inc. upped their target price on FedEx Corp. from $180.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 21st. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $176.59.
The company’s 50 day moving average is $168.56 and its 200-day moving average is $163.60. The stock has a market capitalization of $45.43 billion, a PE ratio of 25.57 and a beta of 1.28.
FedEx Corp. (NYSE:FDX) last released its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.09. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The firm had revenue of $14.70 billion for the quarter. During the same quarter in the previous year, the firm posted $2.42 EPS. FedEx Corp.’s revenue was up 19.5% compared to the same quarter last year. Equities research analysts forecast that FedEx Corp. will post $12.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date was Thursday, September 8th. FedEx Corp.’s payout ratio is 23.99%.
Several institutional investors have recently added to or reduced their stakes in the stock. First Personal Financial Services boosted its position in FedEx Corp. by 18.6% in the second quarter. First Personal Financial Services now owns 708 shares of the shipping service provider’s stock worth $107,000 after buying an additional 111 shares during the last quarter. Glassman Wealth Services boosted its position in FedEx Corp. by 200.6% in the second quarter. Glassman Wealth Services now owns 974 shares of the shipping service provider’s stock worth $148,000 after buying an additional 650 shares during the last quarter. Invictus RG purchased a new position in FedEx Corp. during the first quarter worth about $161,000. Beese Fulmer Investment Management Inc. boosted its position in FedEx Corp. by 2.5% in the second quarter. Beese Fulmer Investment Management Inc. now owns 1,319 shares of the shipping service provider’s stock worth $200,000 after buying an additional 32 shares during the last quarter. Finally, HBK Sorce Advisory LLC purchased a new position in FedEx Corp. during the second quarter worth about $202,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.
About FedEx Corp.
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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