Investors Buy FedEx Corporation (FDX) on Weakness Following Insider Selling

Traders bought shares of FedEx Corporation (NYSE:FDX) on weakness during trading on Tuesday after an insider sold shares in the company. $68.59 million flowed into the stock on the tick-up and $49.60 million flowed out of the stock on the tick-down, for a money net flow of $18.99 million into the stock. Of all equities tracked, FedEx Corporation had the 29th highest net in-flow for the day. FedEx Corporation traded down ($1.32) for the day and closed at $206.71Specifically, EVP Robert B. Carter sold 24,522 shares of FedEx Corporation stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $210.96, for a total transaction of $5,173,161.12. Following the completion of the sale, the executive vice president now directly owns 68,556 shares in the company, valued at $14,462,573.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David L. Cunningham, Jr. sold 17,565 shares of FedEx Corporation stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $211.00, for a total transaction of $3,706,215.00. Following the sale, the chief executive officer now owns 29,148 shares of the company’s stock, valued at $6,150,228. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,757 shares of company stock valued at $16,447,426. Company insiders own 8.67% of the company’s stock.

A number of research analysts recently weighed in on the stock. Cowen and Company restated a “buy” rating and issued a $240.00 price objective on shares of FedEx Corporation in a report on Thursday. Credit Suisse Group reiterated a “buy” rating and set a $237.00 price target on shares of FedEx Corporation in a report on Monday, August 7th. BidaskClub cut shares of FedEx Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Vetr upgraded shares of FedEx Corporation from a “sell” rating to a “hold” rating and set a $206.26 price target for the company in a report on Tuesday, July 18th. Finally, Loop Capital reiterated a “buy” rating and set a $234.00 price target on shares of FedEx Corporation in a report on Tuesday, July 4th. Six analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. FedEx Corporation currently has a consensus rating of “Buy” and a consensus target price of $221.78.

The firm has a 50-day moving average price of $212.82 and a 200-day moving average price of $198.62. The company has a market cap of $54.96 billion, a price-to-earnings ratio of 18.51 and a beta of 1.27.

FedEx Corporation (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.88 by $0.37. The firm had revenue of $15.70 billion for the quarter, compared to analysts’ expectations of $15.56 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. FedEx Corporation’s revenue was up 21.0% on a year-over-year basis. During the same quarter last year, the business posted $3.30 EPS. Equities analysts predict that FedEx Corporation will post $13.58 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in FDX. Private Bank & Trust Co. raised its stake in shares of FedEx Corporation by 32.0% in the first quarter. Private Bank & Trust Co. now owns 2,681 shares of the shipping service provider’s stock valued at $523,000 after buying an additional 650 shares in the last quarter. Prospera Financial Services Inc raised its stake in shares of FedEx Corporation by 3.6% in the first quarter. Prospera Financial Services Inc now owns 3,015 shares of the shipping service provider’s stock valued at $590,000 after buying an additional 105 shares in the last quarter. Private Trust Co. NA raised its stake in shares of FedEx Corporation by 43.7% in the first quarter. Private Trust Co. NA now owns 10,425 shares of the shipping service provider’s stock valued at $2,034,000 after buying an additional 3,171 shares in the last quarter. Honkamp Krueger Financial Services Inc. raised its stake in shares of FedEx Corporation by 12.8% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 2,016 shares of the shipping service provider’s stock valued at $393,000 after buying an additional 228 shares in the last quarter. Finally, Horrell Capital Management Inc. raised its stake in shares of FedEx Corporation by 0.4% in the first quarter. Horrell Capital Management Inc. now owns 27,278 shares of the shipping service provider’s stock valued at $5,323,000 after buying an additional 100 shares in the last quarter. 76.36% of the stock is currently owned by institutional investors.

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FedEx Corporation 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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