FedEx Corp. (NYSE:FDX) gapped up prior to trading on Thursday . The stock had previously closed at $159.88, but opened at $160.42. FedEx Corp. shares last traded at $162.35, with a volume of 852,469 shares trading hands.

FDX has been the topic of a number of analyst reports. Avondale Partners upped their price target on FedEx Corp. from $175.00 to $182.50 and gave the company a “market outperform” rating in a research report on Thursday, March 17th. Citigroup Inc. upped their price target on FedEx Corp. from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, March 17th. Stifel Nicolaus boosted their price objective on FedEx Corp. from $171.00 to $174.00 and gave the company a “buy” rating in a research note on Thursday, March 17th. Cowen and Company boosted their price objective on FedEx Corp. from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, March 17th. Finally, Nomura Holdings Inc. dropped their price objective on FedEx Corp. from $190.00 to $180.00 and set a “neutral” rating on the stock in a research note on Thursday, March 17th. Nine investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $179.05.

The stock has a 50 day moving average of $158.91 and a 200-day moving average of $151.19. The company has a market cap of $43.35 billion and a PE ratio of 24.81.

FedEx Corp. (NYSE:FDX) last released its earnings results on Tuesday, June 21st. The shipping service provider reported $3.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.28 by $0.02. During the same period last year, the firm earned $2.66 EPS. The business had revenue of $12.98 billion for the quarter. The business’s revenue was up 7.1% on a year-over-year basis. Analysts forecast that FedEx Corp. will post $11.94 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Thursday, June 16th were issued a dividend of $0.40 per share. This is a boost from FedEx Corp.’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, June 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.99%.

In other news, CEO Frederick W. Smith sold 200,000 shares of FedEx Corp. stock in a transaction that occurred on Friday, April 22nd. The shares were sold at an average price of $166.14, for a total transaction of $33,228,000.00. Following the completion of the transaction, the chief executive officer now directly owns 15,416,526 shares in the company, valued at $2,561,301,629.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Several institutional investors have added to or reduced their stakes in the stock. Henderson Group PLC raised its position in FedEx Corp. by 1.0% in the fourth quarter. Henderson Group PLC now owns 166,368 shares of the shipping service provider’s stock valued at $24,776,000 after buying an additional 1,718 shares during the last quarter. TD Asset Management Inc. raised its position in shares of FedEx Corp. by 7.2% in the fourth quarter. TD Asset Management Inc. now owns 208,651 shares of the shipping service provider’s stock worth $31,087,000 after buying an additional 13,991 shares during the last quarter. Conning Inc. raised its position in shares of FedEx Corp. by 13.2% in the fourth quarter. Conning Inc. now owns 7,921 shares of the shipping service provider’s stock worth $1,180,000 after buying an additional 926 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of FedEx Corp. by 111.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 72,094 shares of the shipping service provider’s stock worth $10,741,000 after buying an additional 37,994 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. raised its position in shares of FedEx Corp. by 1.9% in the fourth quarter. Financial Engines Advisors L.L.C. now owns 22,283 shares of the shipping service provider’s stock worth $3,320,000 after buying an additional 412 shares during the last quarter.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.