Insider Selling: FedEx Co. (FDX) Director Sells 3,016 Shares of Stock
FedEx Co. (NYSE:FDX) Director David P. Steiner sold 3,016 shares of the business’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $266.05, for a total value of $802,406.80. Following the completion of the transaction, the director now directly owns 16,040 shares of the company’s stock, valued at $4,267,442. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
FedEx Co. (NYSE FDX) traded down $0.91 during mid-day trading on Tuesday, reaching $267.75. The company’s stock had a trading volume of 1,647,492 shares, compared to its average volume of 2,279,717. FedEx Co. has a 1 year low of $182.89 and a 1 year high of $271.39. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.57. The stock has a market capitalization of $71,730.00, a P/E ratio of 24.61, a PEG ratio of 1.60 and a beta of 1.36.
FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.89 by $0.29. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The firm had revenue of $16.30 billion during the quarter, compared to the consensus estimate of $15.67 billion. During the same quarter in the previous year, the business earned $2.80 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. equities analysts predict that FedEx Co. will post 13.03 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Friday, December 8th. FedEx’s dividend payout ratio (DPR) is presently 18.38%.
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in FedEx by 2.7% during the second quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock valued at $4,018,446,000 after acquiring an additional 492,840 shares during the period. FMR LLC grew its position in FedEx by 0.3% during the second quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock valued at $984,539,000 after acquiring an additional 15,382 shares during the period. Ameriprise Financial Inc. boosted its position in shares of FedEx by 7.3% in the third quarter. Ameriprise Financial Inc. now owns 3,925,763 shares of the shipping service provider’s stock worth $885,594,000 after buying an additional 266,660 shares during the period. Capital World Investors boosted its position in shares of FedEx by 16.1% in the second quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock worth $785,626,000 after buying an additional 501,617 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of FedEx by 3.3% in the third quarter. Canada Pension Plan Investment Board now owns 3,612,357 shares of the shipping service provider’s stock worth $814,875,000 after buying an additional 116,500 shares during the period. 75.66% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on FDX shares. Stephens set a $306.00 price target on FedEx and gave the stock a “buy” rating in a report on Wednesday, December 20th. JPMorgan Chase & Co. upped their target price on FedEx from $237.00 to $264.00 and gave the company an “overweight” rating in a research note on Thursday, October 12th. Goldman Sachs Group started coverage on FedEx in a research note on Monday, November 13th. They issued a “buy” rating and a $270.00 target price for the company. Barclays reiterated an “overweight” rating and issued a $270.00 target price (up from $230.00) on shares of FedEx in a research note on Thursday, November 30th. They noted that the move was a valuation call. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $233.00 target price (down from $242.00) on shares of FedEx in a research note on Friday, September 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have issued a buy rating to the company. FedEx presently has a consensus rating of “Buy” and a consensus target price of $269.04.
FedEx Corporation (FedEx) 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 segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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