FedEx Corp. (FDX) Stock Price Down 1.4%
FedEx Corp. (NYSE:FDX) traded down 1.4% during trading on Thursday . The company traded as low as $165.20 and last traded at $165.81, with a volume of 616,899 shares changing hands. The stock had previously closed at $168.23.
A number of equities research analysts have commented on the company. Cowen and Company reissued a “buy” rating and issued a $180.00 price objective on shares of FedEx Corp. in a research note on Saturday, June 18th. Vetr raised FedEx Corp. from a “buy” rating to a “strong-buy” rating and set a $179.94 price objective for the company in a research note on Tuesday, August 2nd. Citigroup Inc. reaffirmed a “buy” rating and set a $200.00 target price (up previously from $180.00) on shares of FedEx Corp. in a research report on Thursday, May 19th. Robert W. Baird reaffirmed a “buy” rating and set a $176.00 target price on shares of FedEx Corp. in a research report on Thursday, June 23rd. Finally, Bank of America Corp. reaffirmed a “buy” rating on shares of FedEx Corp. in a research report on Thursday, June 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $174.75.
The stock has a market capitalization of $43.80 billion and a PE ratio of 25.34. The stock has a 50-day moving average price of $162.78 and a 200-day moving average price of $157.46.
FedEx Corp. (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 21st. The shipping service provider reported $3.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.28 by $0.02. The firm earned $12.98 billion during the quarter. During the same quarter in the prior year, the business posted $2.66 EPS. FedEx Corp.’s revenue was up 7.1% on a year-over-year basis. On average, equities analysts anticipate that FedEx Corp. will post $11.90 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.97%.
In other news, EVP Robert B. Carter sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $164.51, for a total value of $822,550.00. Following the transaction, the executive vice president now directly owns 53,399 shares in the company, valued at approximately $8,784,669.49. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John A. Edwardson sold 2,882 shares of the firm’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $162.63, for a total value of $468,699.66. Following the completion of the transaction, the director now directly owns 29,090 shares in the company, valued at $4,730,906.70. The disclosure for this sale can be found here.
A number of institutional investors recently made changes to their positions in FDX. 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 worth $292,984,000 after buying an additional 29,623 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of FedEx Corp. by 3.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 894,063 shares of the shipping service provider’s stock worth $133,207,000 after buying an additional 28,003 shares in the last quarter. Finally, 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 worth $5,019,000 after buying an additional 10,430 shares in 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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