FedEx Corporation (NYSE:FDX - Get Free Report) was the target of unusually large options trading on Tuesday. Investors purchased 10,278 call options on the stock. This represents an increase of approximately 69% compared to the typical daily volume of 6,087 call options.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the stock. Truist Financial lowered their price objective on shares of FedEx from $425.00 to $365.00 and set a "buy" rating on the stock in a report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft cut shares of FedEx from a "buy" rating to a "hold" rating in a report on Wednesday, May 27th. Stifel Nicolaus decreased their target price on shares of FedEx from $442.00 to $326.00 and set a "buy" rating for the company in a research report on Wednesday, June 24th. Evercore set a $165.00 target price on shares of FedEx in a report on Friday, June 26th. Finally, JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of FedEx in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, FedEx presently has a consensus rating of "Moderate Buy" and a consensus target price of $350.54.
View Our Latest Report on FedEx
Insider Buying and Selling
In other news, Director Paul S. Walsh sold 5,042 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the sale, the director owned 16,359 shares in the company, valued at $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.53% of the company's stock.
Institutional Investors Weigh In On FedEx
Several large investors have recently made changes to their positions in FDX. Sivia Capital Partners LLC bought a new position in FedEx in the 2nd quarter worth $586,000. CWM LLC raised its stake in shares of FedEx by 32.2% in the fourth quarter. CWM LLC now owns 108,031 shares of the shipping service provider's stock worth $31,206,000 after buying an additional 26,322 shares during the period. Canada Post Corp Registered Pension Plan lifted its position in shares of FedEx by 85.9% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider's stock valued at $1,962,000 after buying an additional 3,138 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of FedEx by 19.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider's stock valued at $12,081,000 after acquiring an additional 6,864 shares during the period. Finally, North Dakota State Investment Board purchased a new stake in FedEx in the 4th quarter worth approximately $2,122,000. 84.47% of the stock is owned by hedge funds and other institutional investors.
FedEx Stock Down 0.7%
NYSE:FDX traded down $2.19 on Tuesday, hitting $322.89. The stock had a trading volume of 686,881 shares, compared to its average volume of 2,173,421. FedEx has a 1 year low of $176.00 and a 1 year high of $345.36. The firm's fifty day simple moving average is $319.20 and its two-hundred day simple moving average is $350.71. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The stock has a market cap of $76.39 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 1.64 and a beta of 1.30.
FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The firm had revenue of $23.26 billion for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. Analysts predict that FedEx will post 17.6 earnings per share for the current year.
FedEx Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were given a $1.22 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.5%. FedEx's payout ratio is currently 26.36%.
FedEx Company Profile
(
Get Free Report)
FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.
FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.
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