Investors Buy FedEx Corp. (FDX) on Weakness Following Insider Selling
Traders bought shares of FedEx Corp. (NYSE:FDX) on weakness during trading hours on Thursday 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 companies tracked, FedEx Corp. had the 18th highest net in-flow for the day. FedEx Corp. traded down ($0.54) for the day and closed at $173.54Specifically, Director John A. Edwardson sold 2,882 shares of the company’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $162.63, for a total value of $468,699.66. Following the transaction, the director now owns 29,090 shares of the company’s stock, valued at $4,730,906.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Christine P. Richards sold 80,080 shares of the company’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $173.59, for a total transaction of $13,901,087.20. Following the completion of the transaction, the executive vice president now directly owns 98,620 shares in the company, valued at approximately $17,119,445.80. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by insiders.
Several research analysts recently issued reports on the stock. Cowen and Company reiterated a “buy” rating and issued a $180.00 target price on shares of FedEx Corp. in a research report on Saturday, June 18th. Deutsche Bank AG upped their target price on shares of FedEx Corp. from $190.00 to $198.00 and gave the stock a “buy” rating in a research report on Thursday, June 23rd. Robert W. Baird reiterated a “buy” rating and issued a $176.00 target price on shares of FedEx Corp. in a research report on Thursday, June 23rd. Stifel Nicolaus upped their price target on shares of FedEx Corp. from $179.00 to $186.00 and gave the company a “buy” rating in a research report on Wednesday, September 21st. Finally, Royal Bank Of Canada upped their price target on shares of FedEx Corp. from $158.00 to $174.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 22nd. 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 stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $176.59.
The stock has a market cap of $45.44 billion, a PE ratio of 25.57 and a beta of 1.28. The company’s 50 day moving average price is $168.72 and its 200-day moving average price is $163.66.
FedEx Corp. (NYSE:FDX) last released its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.09. The company earned $14.70 billion during the quarter. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. FedEx Corp.’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm earned $2.42 earnings per share. On average, equities analysts forecast that FedEx Corp. will post $12.14 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were given a $0.40 dividend. The ex-dividend date was Thursday, September 8th. This represents a $1.60 annualized dividend and a yield of 0.94%. FedEx Corp.’s dividend payout ratio (DPR) is 23.99%.
A number of large investors have recently added to or reduced their stakes in the stock. Grandfield & Dodd LLC boosted its stake in FedEx Corp. by 5.0% in the second quarter. Grandfield & Dodd LLC now owns 78,590 shares of the shipping service provider’s stock valued at $11,929,000 after buying an additional 3,733 shares during the period. Ferguson Wellman Capital Management Inc. boosted its stake in FedEx Corp. by 1.1% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 115,921 shares of the shipping service provider’s stock valued at $17,594,000 after buying an additional 1,230 shares during the period. Legal & General Group Plc boosted its stake in FedEx Corp. by 2.0% in the first quarter. Legal & General Group Plc now owns 1,159,796 shares of the shipping service provider’s stock valued at $188,709,000 after buying an additional 22,819 shares during the period. Southpoint Capital Advisors LP bought a new stake in FedEx Corp. during the first quarter valued at about $90,607,000. Finally, Bartlett & Co. LLC boosted its stake in FedEx Corp. by 0.4% in the second quarter. Bartlett & Co. LLC now owns 154,011 shares of the shipping service provider’s stock valued at $23,376,000 after buying an additional 612 shares during the period. 73.73% of the stock is owned by institutional investors.
About FedEx Corp.
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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