Traders Buy FedEx Corp. (FDX) on Weakness After Insider Selling
Traders bought shares of FedEx Corp. (NYSE:FDX) on weakness during trading on Wednesday after an insider sold shares in the company. $59.04 million flowed into the stock on the tick-up and $41.35 million flowed out of the stock on the tick-down, for a money net flow of $17.69 million into the stock. Of all equities tracked, FedEx Corp. had the 36th highest net in-flow for the day. FedEx Corp. traded down ($0.54) for the day and closed at $173.54Specifically, EVP Alan B. Graf, Jr. sold 7,400 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was 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 of the company’s stock, valued at $24,020,520.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael L. Ducker sold 5,000 shares of the business’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $158.43, for a total value of $792,150.00. Following the transaction, the chief executive officer now directly 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. Insiders own 8.67% of the company’s stock.
Several research analysts have recently commented on the company. Vetr lowered FedEx Corp. from a “buy” rating to a “hold” rating and set a $179.94 price objective for the company. in a report on Tuesday, September 27th. Robert W. Baird reaffirmed an “outperform” rating and issued a $185.00 target price on shares of FedEx Corp. in a research note on Friday, September 23rd. Citigroup Inc. reaffirmed a “buy” rating on shares of FedEx Corp. in a research note on Thursday, September 22nd. Zacks Investment Research raised FedEx Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, September 22nd. Finally, Barclays PLC reaffirmed a “top pick” rating on shares of FedEx Corp. in a research note on Wednesday, September 21st. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $176.59.
The company has a market cap of $46.12 billion, a PE ratio of 25.96 and a beta of 1.28. The company has a 50 day moving average price of $168.49 and a 200-day moving average price of $163.54.
FedEx Corp. (NYSE:FDX) last announced its earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 EPS for the quarter, topping the Zacks’ consensus estimate of $2.81 by $0.09. The firm earned $14.70 billion during the quarter. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. FedEx Corp.’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.42 EPS. Equities analysts anticipate that FedEx Corp. will post $12.14 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 12th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, September 8th. FedEx Corp.’s dividend payout ratio (DPR) is 23.99%.
Several institutional investors have recently made changes to their positions in the company. Sun Life Financial INC acquired a new position in FedEx Corp. during the first quarter worth about $52,233,000. First Personal Financial Services boosted its position in FedEx Corp. by 18.6% in the second quarter. First Personal Financial Services now owns 708 shares of the shipping service provider’s stock worth $107,000 after buying an additional 111 shares during the last quarter. Glassman Wealth Services boosted its position in FedEx Corp. by 200.6% in the second quarter. Glassman Wealth Services now owns 974 shares of the shipping service provider’s stock worth $148,000 after buying an additional 650 shares during the last quarter. Invictus RG acquired a new position in FedEx Corp. during the first quarter worth about $161,000. Finally, Park National Corp OH acquired a new position in FedEx Corp. during the third quarter worth about $204,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.
FedEx Corp. Company Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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