FedEx Corp. (NYSE:FDX) shares gapped up prior to trading on Monday . The stock had previously closed at $162.75, but opened at $162.91. FedEx Corp. shares last traded at $164.25, with a volume of 454,829 shares trading hands.

FDX has been the subject of several recent analyst reports. Vetr upgraded shares of FedEx Corp. from a “buy” rating to a “strong-buy” rating and set a $187.36 price objective for the company in a report on Wednesday, May 4th. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of FedEx Corp. in a report on Monday, June 6th. Credit Suisse Group AG reiterated a “buy” rating on shares of FedEx Corp. in a report on Thursday, June 16th. Robert W. Baird reiterated a “buy” rating and issued a $176.00 price objective on shares of FedEx Corp. in a report on Thursday, June 23rd. Finally, Zacks Investment Research cut shares of FedEx Corp. from a “buy” rating to a “hold” rating in a report on Monday, May 30th. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. FedEx Corp. presently has a consensus rating of “Buy” and a consensus target price of $174.75.

The company has a 50-day moving average of $157.97 and a 200 day moving average of $154.15. The stock has a market cap of $43.47 billion and a PE ratio of 25.15.

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

In related news, EVP Alan B. Graf, Jr. sold 7,400 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $159.43, for a total transaction of $1,179,782.00. Following the completion of the transaction, the executive vice president now owns 150,665 shares in the company, valued at $24,020,520.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael L. Ducker sold 5,000 shares of the stock in a transaction on Friday, July 22nd. The stock was 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 of the company’s stock, valued at approximately $8,914,063.95. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have made changes to their positions in the company. RS Investment Management Co. LLC boosted its position in shares of FedEx Corp. by 44.8% in the fourth quarter. RS Investment Management Co. LLC now owns 33,690 shares of the shipping service provider’s stock valued at $5,019,000 after buying an additional 10,430 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of FedEx Corp. by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,966,459 shares of the shipping service provider’s stock valued at $292,984,000 after buying an additional 29,623 shares during the last quarter. Cedar Hill Associates LLC boosted its position in shares of FedEx Corp. by 5.1% in the fourth quarter. Cedar Hill Associates LLC now owns 93,550 shares of the shipping service provider’s stock valued at $13,938,000 after buying an additional 4,566 shares during the last quarter. Stephens Inc. AR boosted its position in shares of FedEx Corp. by 53.4% in the fourth quarter. Stephens Inc. AR now owns 22,909 shares of the shipping service provider’s stock valued at $3,413,000 after buying an additional 7,972 shares during the last quarter. Finally, Redwood Investments LLC boosted its position in shares of FedEx Corp. by 11.5% in the fourth quarter. Redwood Investments LLC now owns 82,672 shares of the shipping service provider’s stock valued at $12,317,000 after buying an additional 8,530 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.

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