FedEx (NYSE:FDX) Director Sells $1,636,431.52 in Stock

FedEx Corporation (NYSE:FDX) Director Paul Walsh sold 5,042 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the transaction, the director owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

FedEx Stock Performance

Shares of FDX stock opened at $313.21 on Friday. The company’s fifty day moving average price is $356.40 and its 200-day moving average price is $347.60. The stock has a market cap of $74.73 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. FedEx Corporation has a 12 month low of $172.88 and a 12 month high of $345.36.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.91 by $0.40. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The company had revenue of $25.01 billion during the quarter, compared to analysts’ expectations of $24.04 billion. During the same period last year, the company posted $6.07 EPS. FedEx’s revenue was up 12.5% on a year-over-year basis. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.

FedEx Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Monday, June 22nd will be paid a $1.22 dividend. The ex-dividend date is Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. FedEx’s dividend payout ratio is presently 26.36%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Franklin Resources Inc. increased its position in shares of FedEx by 5.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,814,938 shares of the shipping service provider’s stock valued at $1,135,411,000 after purchasing an additional 269,567 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in FedEx during the second quarter valued at approximately $586,000. CWM LLC boosted its stake in shares of FedEx by 32.2% during the 4th quarter. CWM LLC now owns 108,031 shares of the shipping service provider’s stock worth $31,206,000 after acquiring an additional 26,322 shares during the last quarter. Canada Post Corp Registered Pension Plan grew its position in shares of FedEx by 85.9% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider’s stock valued at $1,962,000 after acquiring an additional 3,138 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of FedEx by 19.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider’s stock worth $12,081,000 after purchasing an additional 6,864 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FDX shares. Stephens reissued an “overweight” rating and issued a $435.00 target price on shares of FedEx in a report on Tuesday, April 14th. The Goldman Sachs Group lowered their price target on FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Barclays dropped their price target on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 17th. Wolfe Research cut their price objective on shares of FedEx from $427.00 to $423.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Finally, Morgan Stanley raised their price objective on shares of FedEx from $220.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, March 20th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $349.60.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.