FedEx Co. (NYSE:FDX) EVP Sells $2,914,455.60 in Stock

FedEx Co. (NYSE:FDX) EVP Mark R. Allen sold 10,145 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $287.28, for a total transaction of $2,914,455.60. Following the completion of the sale, the executive vice president now directly owns 36,853 shares in the company, valued at approximately $10,587,129.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

FedEx Price Performance

Shares of FedEx stock traded up $1.82 on Thursday, reaching $289.70. 1,650,726 shares of the stock were exchanged, compared to its average volume of 2,179,895. The firm’s 50 day moving average is $249.64 and its 200-day moving average is $252.32. The firm has a market cap of $71.29 billion, a PE ratio of 16.71, a P/E/G ratio of 1.37 and a beta of 1.20. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. FedEx Co. has a one year low of $213.80 and a one year high of $291.27.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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. The business had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. FedEx’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.41 EPS. As a group, analysts anticipate that FedEx Co. will post 17.6 EPS for the current fiscal year.

FedEx declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 21st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board 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 $1.26 dividend. This represents a $5.04 annualized dividend and a yield of 1.74%. The ex-dividend date is Friday, March 8th. FedEx’s payout ratio is 29.07%.

Analyst Ratings Changes

FDX has been the subject of a number of recent research reports. TD Cowen increased their price objective on shares of FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Barclays raised their target price on shares of FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Melius Research upgraded shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 target price on the stock in a report on Monday, January 8th. Bank Of America (Bofa) increased their price target on shares of FedEx from $330.00 to $334.00 in a research note on Wednesday, December 20th. Finally, BMO Capital Markets upped their target price on shares of FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $301.07.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in 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 worth $157,660,000 after buying an additional 13,642 shares during the period. Skba Capital Management LLC grew its position in shares of FedEx by 0.3% in the 3rd quarter. Skba Capital Management LLC now owns 39,320 shares of the shipping service provider’s stock valued at $10,417,000 after buying an additional 100 shares during the last quarter. Vishria Bird Financial Group LLC increased its stake in shares of FedEx by 21.2% in the third quarter. Vishria Bird Financial Group LLC now owns 80,348 shares of the shipping service provider’s stock valued at $21,286,000 after buying an additional 14,036 shares during the period. Finally, Machina Capital S.A.S. bought a new position in shares of FedEx during the third quarter worth about $1,453,000. 84.47% of the stock is currently owned by institutional investors.

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.