FedEx Co. (NYSE:FDX) CEO Sells $713,371.68 in Stock

FedEx Co. (NYSE:FDX) CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

FedEx Stock Performance

NYSE FDX traded down $4.31 during trading hours on Friday, reaching $270.59. The stock had a trading volume of 1,474,220 shares, compared to its average volume of 1,511,629. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The stock has a market cap of $65.17 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. The stock has a fifty day moving average of $283.86 and a 200 day moving average of $284.40.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating 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 firm had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter in the previous year, the company posted $3.99 EPS. The company’s revenue was down .7% compared to the same quarter last year. Sell-side analysts predict that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have commented on the company. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Bernstein Bank boosted their price target on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Hsbc Global Res lowered FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Loop Capital upgraded shares of FedEx from a “hold” rating to a “buy” rating and boosted their target price for the company from $288.00 to $365.00 in a research report on Friday, December 20th. Finally, Robert W. Baird decreased their price target on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $325.61.

Institutional Investors Weigh In On FedEx

A number of hedge funds have recently added to or reduced their stakes in FDX. IVC Wealth Advisors LLC grew its position in shares of FedEx by 2.0% during the third quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock worth $533,000 after buying an additional 38 shares in the last quarter. Citizens Financial Group Inc. RI increased its position in shares of FedEx by 3.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after purchasing an additional 38 shares during the last quarter. Turtle Creek Wealth Advisors LLC raised its holdings in shares of FedEx by 4.0% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock valued at $279,000 after purchasing an additional 39 shares in the last quarter. Buckley Wealth Management LLC grew its stake in shares of FedEx by 1.0% during the third quarter. Buckley Wealth Management LLC now owns 3,975 shares of the shipping service provider’s stock worth $1,088,000 after purchasing an additional 40 shares in the last quarter. Finally, Evermay Wealth Management LLC increased its holdings in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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.