FedEx Corp. (FDX) Shares Gap Up to $160.42
FedEx Corp. (NYSE:FDX)’s share price gapped up before the market opened 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.
FDX has been the subject of a number of recent analyst reports. Robert W. Baird lifted their price target on shares of FedEx Corp. from $172.00 to $176.00 in a research note on Monday, April 4th. Vetr raised shares of FedEx Corp. from a “hold” rating to a “buy” rating and set a $181.49 price objective for the company in a research report on Monday, April 25th. TheStreet raised shares of FedEx Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, March 29th. Deutsche Bank AG reissued a “buy” rating on shares of FedEx Corp. in a research report on Sunday, March 20th. Finally, Cowen and Company reissued a “buy” rating on shares of FedEx Corp. in a research report on Saturday, March 19th. Nine equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. FedEx Corp. has a consensus rating of “Buy” and a consensus price target of $179.05.
The stock’s 50-day moving average is $158.82 and its 200-day moving average is $151.27. The company has a market cap of $43.11 billion and a price-to-earnings ratio of 24.67.
FedEx Corp. (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 21st. The shipping service provider reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.02. The company had revenue of $12.98 billion for the quarter. During the same quarter in the prior year, the firm posted $2.66 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts predict 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 $0.40 dividend. The ex-dividend date of this dividend was Tuesday, June 14th. This is a boost from FedEx Corp.’s previous quarterly dividend of $0.25. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.00%.
In other news, CEO Frederick W. Smith sold 200,000 shares of FedEx Corp. stock in a transaction on Friday, April 22nd. The shares were sold at an average price of $166.14, for a total value of $33,228,000.00. Following the transaction, the chief executive officer now directly owns 15,416,526 shares of the company’s stock, valued at approximately $2,561,301,629.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Several institutional investors have made changes to their positions in the stock. Estabrook Capital Management boosted 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 worth $1,000,000 after buying an additional 100 shares during the last quarter. FTB Advisors Inc. boosted 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 worth $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 worth approximately $1,077,000. Whittier Trust Co. boosted 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 worth $1,141,000 after buying an additional 3,016 shares during the last quarter. Finally, Meridian Investment Counsel Inc. boosted 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 worth $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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