Traders Buy Large Volume of Call Options on FedEx (NYSE:FDX)

FedEx Corporation (NYSE:FDX) saw unusually large options trading on Thursday. Stock investors acquired 9,858 call options on the stock. This is an increase of 68% compared to the typical daily volume of 5,852 call options.

FedEx Stock Up 0.8%

Shares of NYSE FDX traded up $2.31 during trading on Thursday, reaching $300.55. The company had a trading volume of 168,636 shares, compared to its average volume of 1,996,176. FedEx has a 12-month low of $187.62 and a 12-month high of $345.36. The stock has a market cap of $71.13 billion, a PE ratio of 16.24, a P/E/G ratio of 1.53 and a beta of 1.28. The business’s 50-day moving average is $307.79 and its 200 day moving average is $332.80. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. The firm had revenue of $23.26 billion during the quarter. As a group, equities analysts forecast that FedEx will post 18.27 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 14th were issued a $1.22 dividend. The ex-dividend date of this dividend was Monday, September 14th. This represents a $4.88 annualized dividend and a yield of 1.6%. FedEx’s payout ratio is 26.36%.

Analyst Upgrades and Downgrades

FDX has been the subject of several recent research reports. Wall Street Zen raised FedEx to a “hold” rating in a research report on Saturday, August 8th. Citizens Jmp started coverage on shares of FedEx in a report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 target price on the stock. Sanford C. Bernstein set a $397.00 target price on shares of FedEx in a research report on Wednesday, June 24th. Weiss Ratings lowered shares of FedEx from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, September 2nd. Finally, Truist Financial lowered their price target on shares of FedEx from $365.00 to $350.00 and set a “buy” rating for the company in a research report on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $354.64.

Institutional Investors Weigh In On FedEx

Institutional investors have recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. increased its position in shares of FedEx by 3.2% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider’s stock valued at $296,000 after acquiring an additional 26 shares in the last quarter. Whipplewood Advisors LLC lifted its position in FedEx by 9.9% in the 1st quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider’s stock valued at $119,000 after acquiring an additional 30 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its position in FedEx by 11.9% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider’s stock valued at $101,000 after acquiring an additional 30 shares in the last quarter. Avior Wealth Management LLC boosted its stake in FedEx by 2.6% during the 2nd quarter. Avior Wealth Management LLC now owns 1,361 shares of the shipping service provider’s stock valued at $426,000 after purchasing an additional 34 shares during the last quarter. Finally, CLG LLC boosted its stake in FedEx by 3.8% during the 1st quarter. CLG LLC now owns 952 shares of the shipping service provider’s stock valued at $339,000 after purchasing an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, customs brokerage, logistics and supply chain services for businesses, governments and consumers.

The company’s services include domestic and international package delivery, less-than-truckload freight transportation, warehousing, fulfillment, supply chain management and specialized logistics solutions.