Key Points
- FedEx EVP Gina Adams sold 3,014 shares for about $956,000 at an average price of $317.06, reducing her stake by 23.79% to 9,656 shares.
- FedEx reported quarterly EPS of $3.74, beating estimates of $3.34; revenue rose 12.3% year over year to $22.93 billion, also above consensus.
- Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $359.16.
FedEx Corporation (NYSE:FDX - Get Free Report) EVP Gina Adams sold 3,014 shares of the firm's stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $317.06, for a total value of $955,618.84. Following the completion of the transaction, the executive vice president owned 9,656 shares of the company's stock, valued at approximately $3,061,531.36. This represents a 23.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
FedEx Stock Down 0.1%
FDX stock opened at $318.03 on Wednesday. The company has a quick ratio of 1.29, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $74.48 billion, a PE ratio of 19.56, a PEG ratio of 1.28 and a beta of 1.27. FedEx Corporation has a twelve month low of $200.20 and a twelve month high of $345.36. The stock has a 50-day simple moving average of $303.85 and a two-hundred day simple moving average of $337.21.
FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The shipping service provider reported $3.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.34 by $0.40. FedEx had a net margin of 4.09% and a return on equity of 15.53%. The firm had revenue of $22.93 billion for the quarter, compared to the consensus estimate of $22.73 billion. During the same period in the prior year, the firm posted $3.83 earnings per share. The company's revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities analysts predict that FedEx Corporation will post 18.29 EPS for the current fiscal year.
FedEx Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 14th were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, September 14th. FedEx's dividend payout ratio (DPR) is presently 30.01%.
Wall Street Analyst Weigh In
A number of research firms have recently commented on FDX. Sanford C. Bernstein set a $377.00 price target on shares of FedEx in a research report on Monday, October 26th. Evercore increased their price objective on FedEx from $350.00 to $351.00 in a research report on Monday, September 28th. JPMorgan Chase & Co. lifted their price objective on FedEx from $399.00 to $400.00 and gave the company an "overweight" rating in a research note on Thursday, October 29th. Wall Street Zen upgraded FedEx to a "hold" rating in a research report on Saturday, August 8th. Finally, Bank of America reduced their target price on FedEx from $378.00 to $359.00 and set a "buy" rating for the company in a research report on Tuesday, October 27th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $359.16.
Read Our Latest Report on FDX
Institutional Trading of FedEx
Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in FedEx during the second quarter valued at about $6,508,103,000. Primecap Management Co. CA bought a new stake in FedEx during the second quarter worth about $2,554,138,000. Bank of America Corp DE purchased a new position in shares of FedEx in the 2nd quarter worth about $579,171,000. Bank of New York Mellon Corp purchased a new position in shares of FedEx in the 2nd quarter worth about $466,943,000. Finally, Legal & General Group Plc bought a new position in shares of FedEx during the 2nd quarter valued at about $448,121,000. Hedge funds and other institutional investors own 84.47% of the company's stock.
FedEx Company Profile
(
Get Free Report)
FedEx Corporation (NYSE: FDX) is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, customs brokerage, logistics and supply chain services for businesses, governments and consumers.
The company's services include domestic and international package delivery, less-than-truckload freight transportation, warehousing, fulfillment, supply chain management and specialized logistics solutions.
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