Among the S&P 500’s biggest fallers on Wednesday November 13 was FedEx Corporation (FDX). The stock experienced a 3.1% decline to $156.23 with 2.21 million shares changing hands.
FedEx Corporation started at an opening price of 160.00 and hit a high of $160.01 and a low of $156.15. Ultimately, the stock took a hit and finished the day at $4.99 per share. FedEx Corporation trades an average of n/a shares a day out of a total 260.91 million shares outstanding. The current moving averages are a 50-day SMA of $n/a and a 200-day SMA of $n/a. FedEx Corporation hit a high of $234.49 and a low of $137.78 over the last year.
FedEx pioneered overnight delivery in 1973 and remains the world’s largest express delivery firm. In fiscal 2019, FedEx derived about 54% of its $70 billion top line from its express division, 29% of sales from ground, and 11% from its freight less-than-truckload trucking segment. Remaining revenue comes from other services, including FedEx Office, which provides document production and shipping services. FedEx acquired Dutch parcel delivery firm TNT Express in 2016.
With its headquarters located in Memphis, TN, FedEx Corporation employs 239,000 people. After today’s trading, the company’s market cap has fallen to $40.76 billion, a P/S of n/a, a P/B of 2.24, and a P/FCF of n/a.
For all the attention paid to the Dow Jones Industrial Average (DJIA), it’s the S&P 500 that’s relied on by insiders and institutional investors. It represents the industry standard for American large-cap indices.
The Dow is made up of just 30 stocks to the S&P 500’s 500, and it uses an unreliable and outdated price-weighting system where the S&P 500 relies on market cap in weighting its returns. This is why its long-term returns is a much more reliable gauge for the performance of large- and mega-cap stocks over time.
