FedEx Co. (NYSE:FDX) Director David P. Steiner Sells 1,369 Shares

FedEx Co. (NYSE:FDX) Director David P. Steiner sold 1,369 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $297.71, for a total transaction of $407,564.99. Following the sale, the director now owns 35,183 shares of the company’s stock, valued at approximately $10,474,330.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

FedEx Stock Performance

Shares of FDX traded down $0.33 during mid-day trading on Tuesday, hitting $298.35. The company’s stock had a trading volume of 1,834,412 shares, compared to its average volume of 1,956,106. FedEx Co. has a one year low of $224.69 and a one year high of $302.41. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The firm has a market capitalization of $73.42 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 1.10 and a beta of 1.18. The stock’s 50-day moving average is $258.67 and its two-hundred day moving average is $256.37.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating the consensus estimate of $5.34 by $0.07. The company had revenue of $22.11 billion during 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 in the prior year, the business earned $4.94 earnings per share. As a group, sell-side analysts anticipate that FedEx Co. will post 20.67 EPS for the current year.

FedEx Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 24th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.85%. This is a positive change from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date of this dividend is Monday, June 24th. FedEx’s dividend payout ratio is presently 32.04%.

FedEx declared that its Board of Directors has approved a share repurchase plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Scarborough Advisors LLC acquired a new position in FedEx during the fourth quarter worth $25,000. Fortis Group Advisors LLC raised its stake in FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 50 shares in the last quarter. Financial Management Professionals Inc. raised its stake in FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after acquiring an additional 63 shares in the last quarter. Private Wealth Management Group LLC acquired a new position in FedEx during the fourth quarter worth $28,000. Finally, Rakuten Securities Inc. acquired a new position in FedEx during the fourth quarter worth $30,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Argus boosted their target price on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Robert W. Baird boosted their price target on shares of FedEx from $325.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, June 26th. Stephens reissued an “overweight” rating and set a $325.00 price target on shares of FedEx in a report on Wednesday, June 26th. Evercore ISI reduced their price target on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a report on Monday, June 24th. Finally, TD Cowen boosted their price target on shares of FedEx from $320.00 to $335.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. One 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 stock. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $314.00.

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.