FedEx Corporation Target of Unusually High Options Trading (FDX)
FedEx Corporation (NYSE:FDX) was the recipient of unusually large options trading activity on Wednesday. Traders acquired 12,915 put options on the stock. This is an increase of 309% compared to the average volume of 3,161 put options.
Shares of FedEx Corporation (NYSE:FDX) opened at 220.80 on Monday. The firm has a 50-day moving average price of $215.44 and a 200-day moving average price of $204.90. FedEx Corporation has a 1-year low of $168.00 and a 1-year high of $227.00. The company has a market capitalization of $59.21 billion, a PE ratio of 20.82 and a beta of 1.31.
FedEx Corporation (NYSE:FDX) last announced its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). The company had revenue of $15.30 billion during the quarter, compared to analyst estimates of $15.35 billion. FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. FedEx Corporation’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.90 EPS. Equities analysts anticipate that FedEx Corporation will post $12.47 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 11th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.91%. The ex-dividend date was Friday, September 8th. FedEx Corporation’s dividend payout ratio is 18.87%.
In related news, CEO Michael L. Ducker sold 14,964 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the completion of the sale, the chief executive officer now directly owns 53,397 shares in the company, valued at $12,059,712.45. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John A. Edwardson sold 2,208 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $208.14, for a total transaction of $459,573.12. Following the sale, the director now owns 30,608 shares of the company’s stock, valued at $6,370,749.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,172 shares of company stock worth $6,039,193. Insiders own 8.45% of the company’s stock.
A number of hedge funds have recently made changes to their positions in FDX. Vanguard Group Inc. boosted its stake in FedEx Corporation by 2.7% in the second quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock worth $4,018,446,000 after purchasing an additional 492,840 shares in the last quarter. BlackRock Inc. boosted its stake in FedEx Corporation by 1,912.1% in the first quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock worth $2,892,768,000 after purchasing an additional 14,086,601 shares in the last quarter. FMR LLC boosted its stake in FedEx Corporation by 0.3% in the second quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock worth $984,539,000 after purchasing an additional 15,382 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in FedEx Corporation by 0.4% in the second quarter. Ameriprise Financial Inc. now owns 3,659,103 shares of the shipping service provider’s stock worth $795,260,000 after purchasing an additional 13,383 shares in the last quarter. Finally, Capital World Investors boosted its stake in FedEx Corporation by 16.1% in the second quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock worth $785,626,000 after purchasing an additional 501,617 shares in the last quarter. 75.89% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on FDX shares. Bank of America Corporation reiterated a “buy” rating and set a $240.00 price target (up from $230.00) on shares of FedEx Corporation in a research report on Wednesday, June 21st. Wells Fargo & Company lifted their price target on shares of FedEx Corporation from $235.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, September 21st. Cowen and Company reiterated an “outperform” rating and issued a $240.00 price target on shares of FedEx Corporation in a research note on Wednesday, June 21st. Credit Suisse Group reiterated an “outperform” rating and issued a $233.00 price target (down previously from $242.00) on shares of FedEx Corporation in a research note on Friday, September 15th. Finally, Loop Capital restated a “buy” rating and set a $234.00 price objective on shares of FedEx Corporation in a research report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $225.71.
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About FedEx Corporation
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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