Richard W. Smith Sells 2,576 Shares of FedEx Co. (NYSE:FDX) Stock

FedEx Co. (NYSE:FDX) CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

FedEx Trading Down 1.6 %

Shares of NYSE FDX opened at $270.59 on Friday. The stock has a market cap of $65.17 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 1.18 and a beta of 1.20. The business has a 50 day simple moving average of $283.78 and a 200 day simple moving average of $284.69. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same quarter in the prior year, the business posted $3.99 EPS. FedEx’s quarterly revenue was down .7% on a year-over-year basis. On average, research analysts predict that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were paid a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.04%. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. BMO Capital Markets boosted their target price on shares of FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Evercore ISI dropped their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Raymond James raised their price objective on FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. TD Cowen boosted their target price on FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $325.61.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Fortitude Family Office LLC grew its holdings in FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares during the last quarter. Evermay Wealth Management LLC boosted its holdings in shares of FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares during the period. Highline Wealth Partners LLC acquired a new position in FedEx in the 3rd quarter valued at $31,000. Abound Wealth Management lifted its position in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after acquiring an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in FedEx during the third quarter valued at about $47,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

About FedEx

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.