FedEx Co. (NYSE:FDX - Get Free Report) CEO Richard W. Smith sold 1,325 shares of FedEx stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $278.24, for a total transaction of $368,668.00. Following the transaction, the chief executive officer now owns 84,614 shares in the company, valued at approximately $23,542,999.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
FedEx Price Performance
Shares of NYSE FDX opened at $275.51 on Friday. 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 firm's 50-day simple moving average is $253.51 and its 200 day simple moving average is $253.48. The stock has a market cap of $67.80 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.32 and a beta of 1.21. FedEx Co. has a fifty-two week low of $213.80 and a fifty-two week high of $291.27.
FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.37. The company had revenue of $21.70 billion for the quarter, compared to analysts' expectations of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. FedEx's quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.41 earnings per share. As a group, research analysts anticipate that FedEx Co. will post 17.6 earnings per share for the current fiscal year.
FedEx Announces Dividend
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The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were given a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Friday, March 8th. FedEx's payout ratio is currently 29.07%.
FedEx announced that its Board of Directors has initiated a share buyback program 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 shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its stock is undervalued.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the stock. Robert W. Baird upped their price objective on shares of FedEx from $315.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, March 22nd. TD Cowen upped their price target on shares of FedEx from $293.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday, March 22nd. UBS Group lifted their price objective on FedEx from $323.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, March 22nd. Stifel Nicolaus cut their target price on FedEx from $306.00 to $303.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, BNP Paribas reiterated an "underperform" rating and issued a $250.00 target price on shares of FedEx in a report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, FedEx presently has an average rating of "Moderate Buy" and an average price target of $301.33.
Check Out Our Latest Analysis on FedEx
Institutional Investors Weigh In On FedEx
Several institutional investors and hedge funds have recently added to or reduced their stakes in FDX. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of FedEx by 11.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider's stock valued at $35,254,000 after acquiring an additional 13,197 shares during the last quarter. Planned Solutions Inc. bought a new position in FedEx in the 4th quarter valued at $32,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of FedEx by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 595,122 shares of the shipping service provider's stock valued at $157,660,000 after purchasing an additional 13,642 shares during the last quarter. Skba Capital Management LLC raised its stake in shares of FedEx by 0.3% during the 3rd quarter. Skba Capital Management LLC now owns 39,320 shares of the shipping service provider's stock worth $10,417,000 after purchasing an additional 100 shares during the period. Finally, Vishria Bird Financial Group LLC boosted its holdings in shares of FedEx by 21.2% in the 3rd quarter. Vishria Bird Financial Group LLC now owns 80,348 shares of the shipping service provider's stock worth $21,286,000 after buying an additional 14,036 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.
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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