FedEx Co. (NYSE:FDX) Director Susan C. Schwab Sells 6,145 Shares

FedEx Co. (NYSE:FDX) Director Susan C. Schwab sold 6,145 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the sale, the director now directly owns 7,865 shares of the company’s stock, valued at approximately $2,265,277.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

FedEx Trading Down 0.4 %

Shares of NYSE FDX opened at $287.88 on Thursday. FedEx Co. has a one year low of $213.80 and a one year high of $291.27. The firm has a market capitalization of $70.84 billion, a PE ratio of 16.60, a PEG ratio of 1.37 and a beta of 1.20. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average price of $248.74 and a two-hundred day moving average price of $252.07.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The business had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same period last year, the business earned $3.41 EPS. The firm’s revenue was down 2.1% compared to the same quarter last year. As a group, analysts predict that FedEx Co. will post 17.6 earnings per share for the current fiscal year.

FedEx announced that its Board of Directors has authorized a stock buyback program on Thursday, March 21st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 11th will be given a $1.26 dividend. This represents a $5.04 annualized dividend and a yield of 1.75%. The ex-dividend date is Friday, March 8th. FedEx’s dividend payout ratio is currently 29.07%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, March 22nd. Bank of America increased their price objective on shares of FedEx from $313.00 to $346.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. UBS Group increased their target price on FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Stephens reduced their target price on FedEx from $330.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, December 20th. Finally, Bank Of America (Bofa) increased their target price on FedEx from $330.00 to $334.00 in a research note on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $301.07.

Institutional Trading of FedEx

Institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in FedEx by 11.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider’s stock worth $35,254,000 after purchasing an additional 13,197 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of FedEx by 2.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 595,122 shares of the shipping service provider’s stock worth $157,660,000 after acquiring an additional 13,642 shares during the last quarter. Skba Capital Management LLC raised its position in shares of FedEx by 0.3% during the third quarter. Skba Capital Management LLC now owns 39,320 shares of the shipping service provider’s stock worth $10,417,000 after acquiring an additional 100 shares during the last quarter. Vishria Bird Financial Group LLC raised its position in shares of FedEx by 21.2% during the third quarter. Vishria Bird Financial Group LLC now owns 80,348 shares of the shipping service provider’s stock worth $21,286,000 after acquiring an additional 14,036 shares during the last quarter. Finally, Machina Capital S.A.S. bought a new stake in FedEx in the third quarter valued at about $1,453,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.