Worth Watching: Can FedEx Corporation’s Tomorrow be Different? The Stock Just Broke Its High

Worth Watching: Can FedEx Corporation's Tomorrow be Different? The Stock Just Broke Its High

The stock of FedEx Corporation (NYSE:FDX) hit a new 52-week high and has $227.23 target or 28.00% above today’s $177.52 share price. The 7 months bullish chart indicates low risk for the $47.18B company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $227.23 price target is reached, the company will be worth $13.21 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 202,652 shares traded hands. FedEx Corporation (NYSE:FDX) has risen 7.94% since April 5, 2016 and is uptrending. It has outperformed by 5.98% the S&P500.

FedEx Corporation (NYSE:FDX) Ratings Coverage

Out of 23 analysts covering FedEx (NYSE:FDX), 11 rate it a “Buy”, 1 “Sell”, while 11 “Hold”. This means 48% are positive. $210 is the highest target while $15.50 is the lowest. The $161.19 average target is -9.20% below today’s ($177.52) stock price. FedEx has been the topic of 42 analyst reports since August 14, 2015 according to StockzIntelligence Inc. Argus Research maintained the shares of FDX in a report on Tuesday, September 22 with “Buy” rating. The company was maintained on Thursday, March 17 by Citigroup. Stifel Nicolaus maintained the stock with “Buy” rating in Thursday, June 2 report. Raymond James downgraded FedEx Corporation (NYSE:FDX) on Monday, December 14 to “Mkt Perform” rating. Nomura maintained the stock with “Neutral” rating in Thursday, March 17 report. The stock of FedEx Corporation (NYSE:FDX) has “Buy” rating given on Wednesday, September 21 by Stifel Nicolaus. On Thursday, March 17 the stock rating was downgraded by Standpoint Research to “Hold”. The stock has “Outperform” rating given by Oppenheimer on Thursday, September 17. The firm earned “Buy” rating on Wednesday, September 2 by Deutsche Bank. The rating was maintained by Avondale with “Market Outperform” on Thursday, March 17.

According to Zacks Investment Research, “FedEx Corporation is a global transportation and logistics enterprise that offers customers a one-stop source for global shipping, logistics and supply chain solutions. Services offered by FedEx companies include worldwide express delivery, ground small-parcel delivery, less-than-truckload freight delivery and global logistics, supply chain management and electronic commerce solutions.”

Insitutional Activity: The institutional sentiment decreased to 0.82 in 2016 Q2. Its down 0.21, from 1.03 in 2016Q1. The ratio dived, as 66 funds sold all FedEx Corporation shares owned while 373 reduced positions. 75 funds bought stakes while 285 increased positions. They now own 192.17 million shares or 6.59% less from 205.72 million shares in 2016Q1.
Perritt Capital Mngmt reported 4,282 shares or 0.17% of all its holdings. Lombard Odier Asset Mgmt (Switzerland) Sa holds 0.03% of its portfolio in FedEx Corporation (NYSE:FDX) for 1,603 shares. Nuveen Asset Lc has 19,561 shares for 0.02% of their US portfolio. Peapack Gladstone Fincl last reported 31,891 shares in the company. Gulf Int Bank (Uk) Limited has 0.2% invested in the company for 79,535 shares. Cohen Steers has 0.05% invested in the company for 122,300 shares. Moreover, Conning has 0.04% invested in FedEx Corporation (NYSE:FDX) for 6,625 shares. Moreover, Amica Mutual has 0.16% invested in FedEx Corporation (NYSE:FDX) for 10,953 shares. Next Fin Grp last reported 0.22% of its portfolio in the stock. Webster Financial Bank N A has 1,825 shares for 0.04% of their US portfolio. Fic Incorporated, a New York-based fund reported 12,655 shares. Highland Management Ltd Llc accumulated 0.82% or 62,456 shares. Fmr Limited Liability Corporation has invested 0.11% of its portfolio in FedEx Corporation (NYSE:FDX). Edge Wealth Mgmt Limited Liability Corp accumulated 8 shares or 0% of the stock. Td Asset Mngmt Incorporated accumulated 0.05% or 186,656 shares.

Insider Transactions: Since July 22, 2016, the stock had 0 insider buys, and 8 insider sales for $28.23 million net activity. Maier Henry J sold $920,874 worth of stock or 5,213 shares. CARTER ROBERT B sold 24,784 shares worth $4.39 million. RICHARDS CHRISTINE P sold 80,080 shares worth $13.90M. EDWARDSON JOHN A sold $468,697 worth of FedEx Corporation (NYSE:FDX) on Friday, August 5. BRONCZEK DAVID J also sold $5.76M worth of FedEx Corporation (NYSE:FDX) on Wednesday, September 28. 5,000 shares with value of $792,125 were sold by DUCKER MICHAEL L on Friday, July 22. GRAF ALAN B JR had sold 7,400 shares worth $1.18 million.

Another recent and important FedEx Corporation (NYSE:FDX) news was published by Investorplace.com which published an article titled: “Trade of the Day: Buy FedEx Corporation (FDX) Stock at THIS Price” on October 20, 2016.

FDX Company Profile

FedEx Corporation (FedEx), incorporated on October 2, 1997, 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 divisions include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services. The FedEx Express segment offers a range of the United States domestic and international shipping services for delivery of packages and freight. TNT Express segment collects, transports and delivers documents, parcels and freight on a day-definite or time-definite basis. The FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services. The FedEx Freight segment offers less-than-truckload (LTL) freight services. The FedEx Services segment provides the Company’s other companies with sales, marketing, information technology, communications, customer service and other back-office support.

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