Traders Buy Shares of FedEx Co. (FDX) on Weakness Following Insider Selling

Traders bought shares of FedEx Co. (NYSE:FDX) on weakness during trading hours on Monday after an insider sold shares in the company. $123.52 million flowed into the stock on the tick-up and $92.66 million flowed out of the stock on the tick-down, for a money net flow of $30.86 million into the stock. Of all stocks tracked, FedEx had the 14th highest net in-flow for the day. FedEx traded down ($1.08) for the day and closed at $187.04Specifically, EVP Robert B. Carter sold 34,580 shares of the business’s stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $191.22, for a total value of $6,612,387.60. Following the transaction, the executive vice president now owns 77,062 shares in the company, valued at $14,735,795.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Alan B. Graf, Jr. sold 25,655 shares of the business’s stock in a transaction on Thursday, March 23rd. The shares were sold at an average price of $195.00, for a total transaction of $5,002,725.00. Following the completion of the transaction, the executive vice president now owns 151,536 shares in the company, valued at approximately $29,549,520. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,279 shares of company stock worth $15,302,693. 8.67% of the stock is owned by company insiders.

Several research firms recently issued reports on FDX. Deutsche Bank AG set a $209.00 target price on shares of FedEx and gave the company a “buy” rating in a report on Saturday, March 18th. Avondale Partners restated an “outperform” rating and issued a $182.50 target price on shares of FedEx in a report on Thursday, December 22nd. Zacks Investment Research upgraded shares of FedEx from a “sell” rating to a “hold” rating in a report on Friday, March 10th. Robert W. Baird boosted their target price on shares of FedEx from $209.00 to $222.00 and gave the company an “outperform” rating in a report on Thursday, March 23rd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $220.00 target price on shares of FedEx in a report on Thursday, March 23rd. Five equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $203.85.

The stock has a 50 day moving average price of $192.31 and a 200 day moving average price of $184.68. The stock has a market capitalization of $50.01 billion, a price-to-earnings ratio of 26.59 and a beta of 1.14.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, March 21st. The shipping service provider reported $2.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.62 by $0.27. The firm earned $15 billion during the quarter, compared to the consensus estimate of $15 billion. FedEx had a return on equity of 22.02% and a net margin of 3.35%. FedEx’s revenue was up 18.1% on a year-over-year basis. During the same period last year, the business earned $2.51 EPS. On average, analysts predict that FedEx Co. will post $12.00 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 13th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, March 9th. FedEx’s dividend payout ratio (DPR) is presently 23.46%.

Large investors have recently made changes to their positions in the company. Adirondack Trust Co. raised its stake in shares of FedEx by 15.0% in the third quarter. Adirondack Trust Co. now owns 652 shares of the shipping service provider’s stock worth $114,000 after buying an additional 85 shares during the period. Brick & Kyle Associates raised its stake in shares of FedEx by 2.2% in the third quarter. Brick & Kyle Associates now owns 664 shares of the shipping service provider’s stock worth $116,000 after buying an additional 14 shares during the last quarter. Coconut Grove Bank raised its stake in shares of FedEx by 2.2% in the third quarter. Coconut Grove Bank now owns 758 shares of the shipping service provider’s stock worth $133,000 after buying an additional 16 shares during the last quarter. Advantage Investment Management LLC bought a new stake in shares of FedEx during the fourth quarter worth $157,000. Finally, Ancora Advisors LLC bought a new stake in shares of FedEx during the fourth quarter worth $157,000. 75.22% of the stock is currently owned by institutional investors and hedge funds.

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FedEx Company Profile

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.

5 Day Chart for NYSE:FDX

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