In a filing, FedEx Corporation revealed its EVP CHIEF FINANCIAL OFF Lenz Michael C. unloaded Company’s shares for reported $1.5 million on Jul 20. In the deal valued at $261.88 per share,5,745 shares were sold. As a result of this transaction, Lenz Michael C. now holds 22,478 shares worth roughly $ 5.87 million.
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Then, CARTER ROBERT B sold 19,270 shares, generating $4,740,420 in total proceeds. Upon selling the shares at $246.00, the EVP / Chief Info Officer now owns 58,875 shares.
Before that, Johnson Jennifer L sold 10,801 shares. FedEx Corporation shares valued at $2,577,187 were divested by the CVP PRIN ACCT OFFICER at a price of $238.61 per share. As a result of the transaction, Johnson Jennifer L now holds 3,196 shares, worth roughly $0.83 million.
Atlantic Equities initiated its FedEx Corporation [FDX] rating to an Overweight in a research note published on Friday, June 06, 2023; the price target was $265. PT values the company’s stock at a premium of 1.52 to its Friday closing price.
Price Performance Review of FDX
On Friday, FedEx Corporation [NYSE:FDX] saw its stock fall -0.02% to $260.97. On the same session, the stock had its day’s lowest price of $259.53, but rose to a high of $263.61. Over the last five days, the stock has gained 0.87%. FedEx Corporation shares have risen nearly 50.68% since the year began. Nevertheless, the stocks have risen 23.79% over the past one year. While a 52-week high of $270.95 was reached on 07/31/23, a 52-week low of $141.92 was recorded on 01/03/23. SMA at 50 days reached $259.02, while 200 days put it at $219.28. A total of 1.44 million shares were traded, compared to the trading of 1.52 million shares in the previous session.
Levels Of Support And Resistance For FDX Stock
The 24-hour chart illustrates a support level at 259.13, which if violated will result in even more drops to 257.29. On the upside, there is a resistance level at 263.21. A further resistance level may holdings at 265.45. The Relative Strength Index (RSI) on the 14-day chart is 50.10, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.54, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 53.52%. Stochastics %K at 53.59% indicates the stock is a holding.
How much short interest is there in FedEx Corporation?
A steep rise in short interest was recorded in FedEx Corporation stocks on Aug 14, 2023, dropping by -1.58 million shares to a total of 3.21 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 4.79 million shares. There was a decline of -49.22%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.39% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.83.
FedEx Corporation [FDX] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 17,701,746 shares, or roughly 7.05% of the outstanding FDX shares. In other words, the investor’s shares have fallen by -37,933 from its previous 13-F filing of 17739679.0. Additionally, Dodge & Cox decreased -12.03% of its stake after which the total value it holdings stand at $4,009,900,468, while PRIMECAP Management Co. reduced -2.84% of its stake to hold $3.56 billion in the firm. Over the last quarter, BlackRock Fund Advisors purchased 96,424 shares of FedEx Corporation, while SSgA Funds Management, Inc. bought -3,628 shares. At present, Geode Capital Management LLC is holding 4,200,026 shares valued at $1.13 billion. DZ PRIVATBANK SA owned 3,222,453 shares of the company at the time of its most recent 13F filing, worth $869.9 million.
According to FactSet, FedEx Corporation’s share price will average $268.26 in the next year, based on opinions of analysts polled by the firm. This is up nearly 3.44 percent from its previous closing price of $261.02. Analysts expect FedEx Corporation stock to reach the higher price of $312.00, while the lowest price estimate is $186.00. However, 32 analysts have rated FDX stock as an Overweight in their predictions for 2023.