Insider Selling: FedEx Co. (NYSE:FDX) Director Sells 2,535 Shares of Stock

FedEx Co. (NYSE:FDX) Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.72, for a total value of $747,115.20. Following the sale, the director now directly owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

FedEx Trading Up 1.5 %

NYSE FDX opened at $299.84 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The stock’s 50-day simple moving average is $258.10 and its two-hundred day simple moving average is $256.24. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $302.41. The company has a market capitalization of $73.78 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.10 and a beta of 1.16.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. The company had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. FedEx’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm posted $4.94 EPS. Research analysts forecast that FedEx Co. will post 20.67 EPS for the current fiscal year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be paid a $1.38 dividend. This is a boost from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date of this dividend is Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.84%. FedEx’s dividend payout ratio is 32.04%.

FedEx announced that its board has authorized a stock repurchase program on Thursday, March 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

FDX has been the subject of a number of research reports. Jefferies Financial Group increased their target price on shares of FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. TD Cowen lifted their target price on shares of FedEx from $320.00 to $335.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Stephens restated an “overweight” rating and set a $325.00 price target on shares of FedEx in a research note on Wednesday, June 26th. Evercore ISI reduced their price objective on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. Finally, Barclays lifted their price target on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $314.00.

Institutional Trading of FedEx

Hedge funds have recently added to or reduced their stakes in the business. Sentry LLC bought a new stake in shares of FedEx in the 4th quarter valued at about $1,811,748,000. Norges Bank purchased a new stake in shares of FedEx during the fourth quarter valued at approximately $700,291,000. Capital International Investors grew its holdings in shares of FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after purchasing an additional 2,163,622 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of FedEx by 5.6% in the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after buying an additional 1,056,061 shares during the period. Finally, Putnam Investments LLC raised its holdings in FedEx by 38.1% during the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after buying an additional 798,084 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

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.