FedEx Co. (NYSE:FDX - Get Free Report) Chairman Frederick W. Smith sold 113,400 shares of the firm's stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the sale, the chairman now owns 14,505,844 shares of the company's stock, valued at $3,978,953,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
FedEx Trading Up 0.3 %
NYSE:FDX opened at $276.37 on Wednesday. FedEx Co. has a fifty-two week low of $213.80 and a fifty-two week high of $291.27. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The stock has a market capitalization of $68.01 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21. The business's 50-day simple moving average is $255.15 and its 200-day simple moving average is $253.90.
FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The business had revenue of $21.70 billion for the quarter, compared to analysts' expectations of $21.95 billion. During the same quarter in the previous year, the business posted $3.41 EPS. FedEx's revenue for the quarter was down 2.1% on a year-over-year basis. Sell-side analysts expect that FedEx Co. will post 17.6 earnings per share for the current fiscal year.
FedEx Announces Dividend
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The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were issued a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend was Friday, March 8th. FedEx's dividend payout ratio (DPR) is presently 29.07%.
FedEx announced that its board has approved a stock buyback plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on FDX. BNP Paribas restated an "underperform" rating and issued a $250.00 target price on shares of FedEx in a research note on Wednesday, March 27th. Robert W. Baird lifted their price objective on FedEx from $315.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, March 22nd. Stifel Nicolaus lowered their price objective on FedEx from $306.00 to $303.00 and set a "buy" rating for the company in a research report on Wednesday, April 3rd. Melius upgraded FedEx from a "hold" rating to a "buy" rating in a research report on Monday, January 8th. Finally, Raymond James lowered their price objective on FedEx from $279.00 to $275.00 and set an "outperform" rating for the company in a research report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat, FedEx presently has an average rating of "Moderate Buy" and a consensus price target of $301.33.
Check Out Our Latest Stock Report on FDX
Institutional Investors Weigh In On FedEx
Several institutional investors have recently bought and sold shares of FDX. Sentry LLC bought a new stake in FedEx in the 4th quarter valued at approximately $1,811,748,000. Norges Bank bought a new stake in FedEx in the 4th quarter valued at approximately $700,291,000. Mizuho Markets Americas LLC bought a new stake in FedEx in the 3rd quarter valued at approximately $496,611,000. FMR LLC lifted its stake in FedEx by 29.1% in the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider's stock valued at $1,076,619,000 after acquiring an additional 916,555 shares in the last quarter. Finally, Capital International Investors lifted its stake in FedEx by 15.2% in the 4th quarter. Capital International Investors now owns 6,667,462 shares of the shipping service provider's stock valued at $1,686,738,000 after acquiring an additional 880,894 shares in the last quarter. 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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