Investors Buy FedEx Corp. (FDX) on Weakness Following Insider Selling
Investors bought shares of FedEx Corp. (NYSE:FDX) on weakness during trading hours on Wednesday following insider selling activity. $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 18th highest net in-flow for the day. FedEx Corp. traded down ($0.54) for the day and closed at $173.54Specifically, EVP Christine P. Richards sold 80,080 shares of FedEx Corp. stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $173.59, for a total transaction of $13,901,087.20. Following the sale, the executive vice president now directly owns 98,620 shares in the company, valued at approximately $17,119,445.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert B. Carter sold 5,000 shares of FedEx Corp. stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $164.51, for a total transaction of $822,550.00. Following the sale, the executive vice president now owns 53,399 shares in the company, valued at $8,784,669.49. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by insiders.
Several research firms recently commented on FDX. Vetr downgraded shares of FedEx Corp. from a “buy” rating to a “hold” rating and set a $179.94 target price on the stock. in a research report on Tuesday, September 27th. Citigroup Inc. reiterated a “buy” rating on shares of FedEx Corp. in a research report on Thursday, September 22nd. Zacks Investment Research upgraded shares of FedEx Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, September 22nd. Robert W. Baird reiterated an “outperform” rating and set a $185.00 target price on shares of FedEx Corp. in a research report on Friday, September 23rd. Finally, Royal Bank Of Canada lifted their target price on shares of FedEx Corp. from $158.00 to $174.00 and gave the stock a “sector perform” rating in a research report on Wednesday, June 22nd. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $176.59.
The company has a market cap of $46.12 billion, a P/E ratio of 25.96 and a beta of 1.28. The firm has a 50-day moving average price of $168.34 and a 200 day moving average price of $163.47.
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FedEx Corp. (NYSE:FDX) last announced its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.09. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. The company earned $14.70 billion during the quarter. During the same period in the previous year, the business earned $2.42 EPS. The business’s revenue was up 19.5% compared to the same quarter last year. On average, analysts predict that FedEx Corp. will post $12.14 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 12th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, September 8th. FedEx Corp.’s payout ratio is 23.99%.
A number of hedge funds have recently made changes to their positions in FDX. Canada Pension Plan Investment Board raised its stake in shares of FedEx Corp. by 1.1% in the first quarter. Canada Pension Plan Investment Board now owns 3,136,906 shares of the shipping service provider’s stock worth $510,437,000 after buying an additional 33,361 shares during the last quarter. Credit Agricole S A raised its stake in shares of FedEx Corp. by 60.1% in the first quarter. Credit Agricole S A now owns 404,342 shares of the shipping service provider’s stock worth $65,794,000 after buying an additional 151,723 shares during the last quarter. Carnick & Kubik LLC acquired a new stake in shares of FedEx Corp. during the first quarter worth approximately $1,121,000. Lumbard & Kellner LLC raised its stake in shares of FedEx Corp. by 2.6% in the first quarter. Lumbard & Kellner LLC now owns 28,760 shares of the shipping service provider’s stock worth $4,680,000 after buying an additional 730 shares during the last quarter. Finally, Aviva PLC raised its stake in shares of FedEx Corp. by 1.3% in the first quarter. Aviva PLC now owns 148,365 shares of the shipping service provider’s stock worth $24,142,000 after buying an additional 1,854 shares during the last quarter. 73.73% of the stock is owned by institutional investors.
FedEx Corp. 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.
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