Insider Selling: FedEx Co. (NYSE:FDX) Director Sells 1,369 Shares of Stock

FedEx Co. (NYSE:FDX) Director David P. Steiner sold 1,369 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $297.71, for a total value of $407,564.99. Following the completion of the transaction, the director now owns 35,183 shares of the company’s stock, valued at $10,474,330.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

FedEx Stock Performance

NYSE:FDX opened at $293.71 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The firm has a 50-day moving average of $259.75 and a two-hundred day moving average of $256.75. The stock has a market cap of $72.28 billion, a P/E ratio of 17.05, a PEG ratio of 1.09 and a beta of 1.18. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $302.41.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. During the same period in the prior year, the company posted $4.94 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, research analysts expect that FedEx Co. will post 20.67 earnings per share for the current fiscal year.

FedEx declared that its Board of Directors has approved a stock repurchase program on Thursday, March 21st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be given a dividend of $1.38 per share. This is a boost from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date is Monday, June 24th. This represents a $5.52 annualized dividend and a dividend yield of 1.88%. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FDX shares. BMO Capital Markets boosted their price target on FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. Argus upped their price objective on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Oppenheimer restated a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. Wells Fargo & Company upped their price objective on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. Finally, Bank of America upped their price objective on FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $314.00.

Hedge Funds Weigh In On FedEx

Large investors have recently modified their holdings of the stock. Crossmark Global Holdings Inc. lifted its position in shares of FedEx by 20.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock worth $7,398,000 after purchasing an additional 5,055 shares during the last quarter. Western Wealth Management LLC lifted its position in shares of FedEx by 10.0% during the fourth quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock worth $925,000 after purchasing an additional 333 shares during the last quarter. Trust Point Inc. acquired a new stake in FedEx during the fourth quarter worth about $282,000. Planned Solutions Inc. acquired a new stake in FedEx during the fourth quarter worth about $32,000. Finally, EFG Asset Management North America Corp. raised its stake in FedEx by 173.2% during the fourth quarter. EFG Asset Management North America Corp. now owns 7,620 shares of the shipping service provider’s stock worth $1,928,000 after acquiring an additional 4,831 shares during the period. Institutional investors own 84.47% of the company’s stock.

FedEx Company Profile

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.