Shares of FedEx Corp. (NYSE:FDX) saw unusually-high trading volume on Tuesday following a stronger than expected earnings report. Approximately 1,519,844 shares traded hands during mid-day trading, an increase of 16% from the previous session’s volume of 1,305,707 shares.The stock last traded at $162.98 and had previously closed at $161.26.

The shipping service provider reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.78 by $0.12. FedEx Corp. had a net margin of 3.61% and a return on equity of 20.62%. The firm earned $14.70 billion during the quarter, compared to the consensus estimate of $14.61 billion. During the same quarter in the previous year, the firm posted $2.42 EPS. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Thursday, September 8th. FedEx Corp.’s payout ratio is 24.84%.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/fedex-corp-fdx-sees-large-volume-increase-on-better-than-expected-earnings.html

FDX has been the subject of a number of recent research reports. Wolfe Research raised shares of FedEx Corp. from a “market perform” rating to an “outperform” rating in a research report on Friday, July 1st. Cowen and Company reaffirmed a “market perform” rating and issued a $110.00 target price on shares of FedEx Corp. in a report on Sunday, July 31st. Zacks Investment Research downgraded shares of FedEx Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 23rd. Vetr downgraded shares of FedEx Corp. from a “strong-buy” rating to a “buy” rating and set a $179.94 target price for the company. in a report on Monday, August 8th. Finally, Bank of America Corp. reaffirmed a “buy” rating on shares of FedEx Corp. in a report on Thursday, June 16th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $174.70.

In other news, Director John A. Edwardson sold 2,882 shares of the stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $162.63, for a total transaction of $468,699.66. Following the transaction, the director now directly owns 29,090 shares in the company, valued at $4,730,906.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael L. Ducker sold 5,000 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $158.43, for a total transaction of $792,150.00. Following the transaction, the chief executive officer now owns 56,265 shares in the company, valued at $8,914,063.95. The disclosure for this sale can be found here. Insiders own 8.67% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in FDX. Quadrant Capital Group LLC increased its position in FedEx Corp. by 0.9% in the second quarter. Quadrant Capital Group LLC now owns 1,623 shares of the shipping service provider’s stock worth $238,000 after buying an additional 15 shares in the last quarter. Moody National Bank Trust Division increased its position in FedEx Corp. by 0.3% in the second quarter. Moody National Bank Trust Division now owns 4,592 shares of the shipping service provider’s stock worth $697,000 after buying an additional 15 shares in the last quarter. Courier Capital Corp increased its position in FedEx Corp. by 0.5% in the second quarter. Courier Capital Corp now owns 4,642 shares of the shipping service provider’s stock worth $705,000 after buying an additional 25 shares in the last quarter. AMG National Trust Bank increased its position in FedEx Corp. by 0.3% in the second quarter. AMG National Trust Bank now owns 7,826 shares of the shipping service provider’s stock worth $1,188,000 after buying an additional 26 shares in the last quarter. Finally, Bangor Savings Bank increased its position in FedEx Corp. by 0.4% in the second quarter. Bangor Savings Bank now owns 7,788 shares of the shipping service provider’s stock worth $1,182,000 after buying an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 73.82% of the company’s stock.

The firm has a market cap of $43.19 billion, a PE ratio of 24.98 and a beta of 1.35. The stock’s 50-day moving average price is $164.16 and its 200-day moving average price is $161.10.

FedEx Corp. Company Profile

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services under the FedEx brand. The Company offers its services through companies constituting four business segments: FedEx Express, FedEx Ground, FedEx Freight and FedEx Services. FedEx Express offers a range of domestic and international shipping services for delivery of packages and freight.

5 Day Chart for NYSE:FDX

Receive News & Ratings for FedEx Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx Corp. and related companies with MarketBeat.com's FREE daily email newsletter.