A company insider recently sold 11,235 shares of FedEx Corporation [FDX]. Should You Sale?

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. FedEx Corporation shares valued at $2,571,081 were sold by Carere Brie on Aug 12. At $228.85 per share, Carere Brie sold 11,235 shares. The insider’s holdings dropped to 16,366 shares worth approximately $2.51 million following the completion of this transaction.

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Also, Brannon Jill sold 1,406 shares, netting a total of over 334,309 in proceeds. Following the sale of shares at $237.77 each, the insider now holds 7,785 shares.

Before that, Brannon Jill had sold 5,620 shares from its account. In a trade valued at $1,331,940, the EVP – Chief Sales Officer traded FedEx Corporation shares for $237.00 each. Upon closing the transaction, the insider’s holdings decreased to 5,620 shares, worth approximately $1.24 million.

As published in a research note from Stifel on September 16, 2022, FedEx Corporation [FDX] has been rated down from a Buy to a Hold and the price target has been revised to $195 from $288. This represents a 21.41% premium over Wednesday’s closing price. Analysts at Loop Capital downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid September. As of September 16, 2022, KeyBanc Capital Markets has decreased its “an Overweight” rating to a “Sector weight” for FDX. Earlier on September 16, 2022, JP Morgan downgraded its rating. Their new recommendation was “a Neutral” for FDX stock which previously was a “an Overweight”.

Analyzing FDX’s Price Performance

On Wednesday, FedEx Corporation [NYSE: FDX] plunged -2.64% to $153.25. The stock’s lowest price that day was $153.25, but it reached a high of $159.1399 in the same session. During the last five days, there has been a drop of approximately -25.25%. Over the course of the year, FedEx Corporation shares have dropped approximately -40.75%. Shares of the company reached a 52-week high of $266.79 on 01/05/22 and a 52-week low of $153.25 on 09/21/22. A 50-day SMA is recorded $217.50, while a 200-day SMA reached $224.96. Nevertheless, trading volume fell to 5.45 million shares from 5.37 million shares the previous day.

Support And Resistance Levels for FedEx Corporation (FDX)

According to the 24-hour chart, there is a support level at 151.29, which, if violated, would cause prices to drop to 149.32. In the upper region, resistance lies at 157.18. The next price resistance is at 161.10. RSI (Relative Strength Index) is 18.30 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -35.15, which suggests the price will decrease in the coming days. Percent R is at 100.00%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is FedEx Corporation subject to short interest?

Stocks of FedEx Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.42 million shares to 3.76 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.18 million shares. A decline of -11.17% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.28 of the overall float, the days-to-cover ratio (short ratio) decline to 1.28.

Which companies own the most shares of FedEx Corporation (FDX)?

According to The Vanguard Group, Inc. filings, the company currently owns 17,628,834 shares, which is about 6.78% of the total FDX shares outstanding. The investor’s shares have plunged by -162,795 from its previous 13-F filing of 17791629.0 shares. With the completion of the buy transaction, Dodge & Cox’s stake is now worth $3,673,711,454. PRIMECAP Management Co. acquire a 1.48% interest valued at $2.83 billion while BlackRock Fund Advisors sold a -298,490 stake. A total of -490,025 shares of FedEx Corporation were sold by SSgA Funds Management, Inc. during the quarter, and -591,386 were sold by T. Rowe Price Associates, Inc. In its current portfolio, Geode Capital Management LLC holds 4,116,066 shares valued at $867.71 million.

In terms of FedEx Corporation share price expectations, FactSet research, analysts set an average price target of $229.92 in the next 12 months, up nearly 47.4% from the previous closing price of $157.40. Analysts anticipate FedEx Corporation stock to reach $320.00 by 2022, with the lowest price target being $165.00. In spite of this, 32 analysts ranked FedEx Corporation stock as an Overweight at the end of 2022. On September 16, 2022, BofA Securities assigned a price target of “a Neutral” to the stock and downgraded coverage with a $186.


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