FedEx (NYSE:FDX) Sees Unusually-High Trading Volume

FedEx Co. (NYSE:FDXGet Rating) shares saw unusually-strong trading volume on Monday . Approximately 66,400 shares changed hands during trading, a decline of 97% from the previous session’s volume of 2,489,596 shares.The stock last traded at $163.52 and had previously closed at $161.02.

Wall Street Analyst Weigh In

Several analysts have issued reports on FDX shares. StockNews.com cut FedEx from a “buy” rating to a “hold” rating in a research note on Monday. Stephens increased their price target on FedEx from $285.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, June 24th. Robert W. Baird dropped their price target on FedEx from $300.00 to $240.00 and set an “outperform” rating on the stock in a research report on Friday, September 16th. Barclays dropped their price target on FedEx from $320.00 to $240.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Cowen dropped their price target on FedEx from $310.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, September 16th. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average target price of $238.30.

FedEx Trading Down 3.4 %

The business has a 50 day simple moving average of $219.92 and a 200-day simple moving average of $217.63. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.38 and a current ratio of 1.43. The stock has a market capitalization of $40.91 billion, a P/E ratio of 11.01, a price-to-earnings-growth ratio of 0.58 and a beta of 1.21.

FedEx (NYSE:FDXGet Rating) last issued its quarterly earnings results on Thursday, June 23rd. The shipping service provider reported $6.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.91 by ($0.04). The firm had revenue of $24.39 billion for the quarter, compared to the consensus estimate of $24.28 billion. FedEx had a net margin of 4.09% and a return on equity of 22.29%. During the same period in the previous year, the business posted $5.01 earnings per share. On average, analysts predict that FedEx Co. will post 23 EPS for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd will be given a dividend of $1.15 per share. The ex-dividend date is Thursday, September 1st. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.92%. FedEx’s dividend payout ratio (DPR) is presently 32.17%.

Insider Activity

In related news, Director Amy B. Lane acquired 607 shares of the business’s stock in a transaction dated Thursday, June 30th. The stock was bought at an average price of $228.12 per share, for a total transaction of $138,468.84. Following the transaction, the director now owns 686 shares of the company’s stock, valued at $156,490.32. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Amy B. Lane acquired 607 shares of the business’s stock in a transaction dated Thursday, June 30th. The stock was bought at an average price of $228.12 per share, for a total transaction of $138,468.84. Following the transaction, the director now owns 686 shares of the company’s stock, valued at $156,490.32. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Brie Carere sold 11,235 shares of the stock in a transaction on Friday, August 12th. The shares were sold at an average price of $228.85, for a total value of $2,571,129.75. Following the sale, the executive vice president now owns 16,366 shares of the company’s stock, valued at approximately $3,745,359.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,810 shares of company stock worth $11,199,898. Insiders own 8.62% of the company’s stock.

Institutional Trading of FedEx

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of FedEx by 2.1% in the first quarter. Vanguard Group Inc. now owns 18,784,798 shares of the shipping service provider’s stock valued at $4,346,614,000 after purchasing an additional 394,289 shares in the last quarter. Dodge & Cox lifted its holdings in shares of FedEx by 0.6% in the second quarter. Dodge & Cox now owns 17,426,647 shares of the shipping service provider’s stock valued at $3,950,795,000 after purchasing an additional 98,022 shares in the last quarter. Primecap Management Co. CA lifted its holdings in shares of FedEx by 1.5% in the second quarter. Primecap Management Co. CA now owns 13,433,592 shares of the shipping service provider’s stock valued at $3,045,530,000 after purchasing an additional 196,115 shares in the last quarter. FMR LLC raised its holdings in shares of FedEx by 15.6% during the second quarter. FMR LLC now owns 4,100,112 shares of the shipping service provider’s stock worth $929,536,000 after acquiring an additional 554,395 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of FedEx by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,404,754 shares of the shipping service provider’s stock worth $556,512,000 after acquiring an additional 78,183 shares in the last quarter. Hedge funds and other institutional investors own 71.62% of the company’s stock.

FedEx Company Profile

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

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