FedEx Co. (NYSE:FDX - Get Free Report) CEO Sriram Krishnasamy sold 354 shares of the company's stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the completion of the sale, the chief executive officer now directly owns 11,147 shares in the company, valued at $3,223,600.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
FedEx Price Performance
Shares of NYSE:FDX opened at $289.70 on Friday. The company has a 50-day simple moving average of $249.64 and a 200-day simple moving average of $252.32. FedEx Co. has a one year low of $213.80 and a one year high of $291.27. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The stock has a market capitalization of $71.29 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 1.36 and a beta of 1.20.
FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating analysts' consensus estimates of $3.49 by $0.37. The business had revenue of $21.70 billion during the quarter, compared to analysts' expectations of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business's revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.41 earnings per share. On average, analysts predict that FedEx Co. will post 17.6 EPS for the current year.
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FedEx declared that its Board of Directors has initiated a share buyback plan on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.
FedEx Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 11th will be issued a $1.26 dividend. The ex-dividend date is Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a yield of 1.74%. FedEx's dividend payout ratio (DPR) is presently 29.07%.
Analysts Set New Price Targets
Several research firms have recently issued reports on FDX. Raymond James lowered their target price on shares of FedEx from $279.00 to $275.00 and set an "outperform" rating on the stock in a research note on Wednesday, December 20th. Morgan Stanley boosted their target price on FedEx from $195.00 to $210.00 and gave the stock an "equal weight" rating in a report on Friday, March 22nd. StockNews.com lowered shares of FedEx from a "strong-buy" rating to a "buy" rating in a research report on Sunday, February 11th. Oppenheimer reaffirmed a "market perform" rating on shares of FedEx in a research report on Friday, March 22nd. Finally, BMO Capital Markets lifted their price target on shares of FedEx from $290.00 to $310.00 and gave the company a "market perform" rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $301.07.
View Our Latest Report on FDX
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in FDX. Camarda Financial Advisors LLC grew its position in shares of FedEx by 0.6% in the second quarter. Camarda Financial Advisors LLC now owns 6,419 shares of the shipping service provider's stock valued at $1,591,000 after purchasing an additional 40 shares during the last quarter. M&R Capital Management Inc. grew its position in shares of FedEx by 0.3% in the third quarter. M&R Capital Management Inc. now owns 16,192 shares of the shipping service provider's stock valued at $4,289,000 after purchasing an additional 41 shares during the last quarter. KRS Capital Management LLC grew its position in shares of FedEx by 4.1% in the fourth quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider's stock valued at $263,000 after purchasing an additional 41 shares during the last quarter. Zullo Investment Group Inc. grew its position in shares of FedEx by 0.7% in the fourth quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider's stock valued at $1,447,000 after purchasing an additional 42 shares during the last quarter. Finally, Toth Financial Advisory Corp grew its position in shares of FedEx by 18.0% in the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider's stock valued at $73,000 after purchasing an additional 44 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.
FedEx Company Profile
(
Get Free Report)
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.
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