Traders Sell Shares of FedEx Corp. (FDX) on Strength (FDX)
Investors sold shares of FedEx Corp. (NYSE:FDX) on strength during trading on Monday. $49.67 million flowed into the stock on the tick-up and $90.80 million flowed out of the stock on the tick-down, for a money net flow of $41.13 million out of the stock. Of all stocks tracked, FedEx Corp. had the 0th highest net out-flow for the day. FedEx Corp. traded up $0.89 for the day and closed at $157.11
A number of research firms recently weighed in on FDX. Vetr raised shares of FedEx Corp. from a “hold” rating to a “buy” rating and set a $181.49 price target for the company in a research note on Monday, April 25th. Zacks Investment Research cut shares of FedEx Corp. from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. Barclays PLC upgraded shares of FedEx Corp. from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $175.00 to $205.00 in a report on Wednesday, May 4th. Stifel Nicolaus boosted their price objective on shares of FedEx Corp. from $174.00 to $178.00 and gave the company a “buy” rating in a report on Thursday, June 2nd. Finally, Royal Bank Of Canada boosted their price objective on shares of FedEx Corp. from $158.00 to $174.00 and gave the company a “sector perform” rating in a report on Wednesday, June 22nd. Nine research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. FedEx Corp. presently has a consensus rating of “Buy” and a consensus target price of $179.05.
The company has a market cap of $42.17 billion and a P/E ratio of 24.13. The firm’s 50-day moving average is $159.17 and its 200 day moving average is $150.98.
FedEx Corp. (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 21st. The shipping service provider reported $3.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.28 by $0.02. During the same period last year, the firm earned $2.66 earnings per share. The business had revenue of $12.98 billion for the quarter. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts predict that FedEx Corp. will post $11.94 EPS for the current fiscal year.
The firm also recently disclosed 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 represents a $1.60 annualized dividend and a dividend yield of 1.02%. This is a positive change from FedEx Corp.’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, June 14th.
In other news, CEO Frederick W. Smith sold 200,000 shares of the business’s stock in a transaction dated Friday, April 22nd. The stock was 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 owns 15,416,526 shares of the company’s stock, valued at $2,561,301,629.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Other hedge funds and institutional investors have modified their holdings of the company. Estabrook Capital Management raised its position in shares of FedEx Corp. by 1.5% in the fourth quarter. Estabrook Capital Management now owns 6,715 shares of the shipping service provider’s stock valued at $1,000,000 after buying an additional 100 shares during the last quarter. FTB Advisors Inc. raised its position in shares of FedEx Corp. by 2.6% in the fourth quarter. FTB Advisors Inc. now owns 6,880 shares of the shipping service provider’s stock valued at $1,025,000 after buying an additional 175 shares during the last quarter. Physicians Financial Services Inc. acquired a new position in shares of FedEx Corp. during the fourth quarter valued at approximately $1,077,000. Whittier Trust Co. raised its position in shares of FedEx Corp. by 65.0% in the fourth quarter. Whittier Trust Co. now owns 7,653 shares of the shipping service provider’s stock valued at $1,141,000 after buying an additional 3,016 shares during the last quarter. Finally, Meridian Investment Counsel Inc. raised its position in shares of FedEx Corp. by 8.5% in the fourth quarter. Meridian Investment Counsel Inc. now owns 7,685 shares of the shipping service provider’s stock valued at $1,145,000 after buying an additional 605 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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