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Exane BNP Paribas analysts downgrades an Underperform rating for Fedex Corp (FDX)

In a filing, Fedex Corp revealed its Executive Chairman SMITH FREDERICK W unloaded Company’s shares for reported $31.11 million on Apr 09 ’24. In the deal valued at $274.30 per share,113,400 shares were sold. As a result of this transaction, SMITH FREDERICK W now holds 14,505,844 shares worth roughly $3.86 billion.

Then, Brightman Tracy B sold 2,550 shares, generating $703,010 in total proceeds. Upon selling the shares at $275.69, the EVP – Chief People Officer now owns 6,294 shares.

Before that, Subramaniam Rajesh sold 18,384 shares. Fedex Corp shares valued at $5,047,342 were divested by the President/CEO at a price of $274.55 per share. As a result of the transaction, Subramaniam Rajesh now holds 55,487 shares, worth roughly $14.75 million.

Exane BNP Paribas downgraded its Fedex Corp [FDX] rating to an Underperform from a a Neutral in a research note published recently. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in late March has reiterated a ‘”an Outperform”‘ rating for it. Melius also remained covering FDX and has increased its forecast on January 08, 2024 with a “Buy” recommendation from previously “Hold” rating. TD Cowen maintained its rating on December 12, 2023. It rated FDX as “an Outperform”.

Price Performance Review of FDX

On Monday, Fedex Corp [NYSE:FDX] saw its stock jump 0.01% to $265.86. Over the last five days, the stock has lost -1.59%. Fedex Corp shares have risen nearly 5.10% since the year began. Nevertheless, the stocks have risen 17.67% over the past one year. While a 52-week high of $291.27 was reached on 03/22/24, a 52-week low of $213.80 was recorded on 02/16/24. SMA at 50 days reached $261.70, while 200 days put it at $256.47. A total of 0.79 million shares were traded, compared to the trading of 0.96 million shares in the previous session.

Levels Of Support And Resistance For FDX Stock

The 24-hour chart illustrates a support level at 263.80, which if violated will result in even more drops to 261.75. On the upside, there is a resistance level at 268.08. A further resistance level may holdings at 270.30. The Relative Strength Index (RSI) on the 14-day chart is 47.84, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.44, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 68.05%. Stochastics %K at 27.24% indicates the stock is a holding.

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