Fedex Corp’s recent filing unveils that its EVP/Chief Customer Officer Carere Brie unloaded Company’s shares for reported $0.61 million on Jul 18 ’24. In the deal valued at $310.43 per share,1,958 shares were sold. As a result of this transaction, Carere Brie now holds 19,937 shares worth roughly $5.69 million.
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Then, Krishnasamy Sriram sold 8,421 shares, generating $2,611,718 in total proceeds. Upon selling the shares at $310.14, the EVP CDI Off & CTO/CEO FDW now owns 12,246 shares.
Before that, Ellison Marvin R sold 2,535 shares. Fedex Corp shares valued at $758,831 were divested by the Director at a price of $299.34 per share. As a result of the transaction, Ellison Marvin R now holds 6,955 shares, worth roughly $1.98 million.
JP Morgan upgraded its Fedex Corp [FDX] rating to an Overweight from a a Neutral in a research note published on June 26, 2024; the price target was increased to $359 from $296. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in late June has reiterated a ‘”a Buy”‘ rating for it. Wells Fargo began covering FDX with “an Equal weight” recommendation on June 07, 2024. Exane BNP Paribas revised its rating on March 27, 2024. It rated FDX as “an Underperform” which previously was an “a Neutral”.
Price Performance Review of FDX
On Friday, Fedex Corp [NYSE:FDX] saw its stock jump 0.43% to $285.40. Over the last five days, the stock has gained 2.88%. Fedex Corp shares have risen nearly 12.82% since the year began. Nevertheless, the stocks have risen 7.67% over the past one year. While a 52-week high of $313.84 was reached on 07/16/24, a 52-week low of $224.69 was recorded on 02/16/24. SMA at 50 days reached $283.58, while 200 days put it at $262.85.
Levels Of Support And Resistance For FDX Stock
The 24-hour chart illustrates a support level at 281.18, which if violated will result in even more drops to 276.97. On the upside, there is a resistance level at 287.58. A further resistance level may holdings at 289.77. The Relative Strength Index (RSI) on the 14-day chart is 46.96, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.23, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 64.54%. Stochastics%K at 32.01% indicates the stock is a holding.
How much short interest is there in Fedex Corp?
A steep rise in short interest was recorded in Fedex Corp stocks on 2024-07-31, dropping by -0.99 million shares to a total of 2.74 million shares. Yahoo Finance data shows the prior-month short interest on 2024-06-28 was 3.73 million shares. There was a decline of -36.21%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on March 22, 2024 when TD Cowen resumed its ‘”an Outperform”‘ rating for the stock and retained the price target to $320.
