FedEx Co. (NYSE:FDX) CEO Sells $102,373.26 in Stock

FedEx Co. (NYSE:FDX) 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 value of $102,373.26. Following the completion of the sale, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

FedEx Stock Performance

Shares of FedEx stock traded up $1.82 during trading hours on Thursday, reaching $289.70. The company’s stock had a trading volume of 1,650,726 shares, compared to its average volume of 2,179,895. 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 company’s 50 day simple moving average is $249.64 and its 200 day simple moving average is $252.32. FedEx Co. has a one year low of $213.80 and a one year high of $291.27. The stock has a market cap of $71.29 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 1.37 and a beta of 1.20.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping 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 firm had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same period last year, the company earned $3.41 earnings per share. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, analysts expect that FedEx Co. will post 17.6 EPS for the current fiscal year.

FedEx declared that its board has approved a share buyback plan 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 buy up to 7.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 11th will be paid a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Friday, March 8th. FedEx’s dividend payout ratio is currently 29.07%.

Hedge Funds Weigh In On FedEx

Several hedge funds have recently modified their holdings of FDX. HighPoint Advisor Group LLC bought a new stake in FedEx in the fourth quarter worth about $1,680,000. Napatree Capital LLC bought a new stake in shares of FedEx in the 4th quarter worth approximately $784,000. Livelsberger Financial Advisory acquired a new stake in FedEx during the fourth quarter valued at approximately $150,000. Accent Capital Management LLC acquired a new position in FedEx in the fourth quarter worth approximately $291,000. Finally, Leo Wealth LLC bought a new position in shares of FedEx in the fourth quarter valued at $395,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on FDX. Evercore ISI raised their price target on shares of FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Jefferies Financial Group boosted their price target on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a report on Friday, March 22nd. The Goldman Sachs Group upped their target price on FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Stephens decreased their price target on FedEx from $330.00 to $320.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 20th. Finally, Bank of America upped their price objective on shares of FedEx from $313.00 to $346.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $301.07.

About FedEx

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.