FedEx Co. (NYSE:FDX) CEO Michael L. Ducker sold 12,899 shares of FedEx stock in a transaction dated Thursday, March 23rd. The stock was sold at an average price of $193.88, for a total value of $2,500,858.12. Following the completion of the transaction, the chief executive officer now owns 61,779 shares of the company’s stock, valued at approximately $11,977,712.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of FedEx Co. (NYSE:FDX) traded up 1.2011% during mid-day trading on Tuesday, hitting $189.2866. The company had a trading volume of 782,166 shares. The firm has a 50-day moving average price of $192.31 and a 200 day moving average price of $184.68. FedEx Co. has a 52-week low of $145.00 and a 52-week high of $201.57. The firm has a market capitalization of $50.61 billion, a price-to-earnings ratio of 26.9102 and a beta of 1.14.
FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, March 21st. The shipping service provider reported $2.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.62 by $0.27. The company had revenue of $15 billion for the quarter, compared to analysts’ expectations of $15 billion. FedEx had a return on equity of 22.02% and a net margin of 3.35%. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.51 EPS. Analysts expect that FedEx Co. will post $12.00 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Monday, March 13th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, March 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.86%. FedEx’s payout ratio is currently 23.46%.
Several institutional investors have recently bought and sold shares of the company. Adirondack Trust Co. boosted its position in FedEx by 15.0% in the third quarter. Adirondack Trust Co. now owns 652 shares of the shipping service provider’s stock worth $114,000 after buying an additional 85 shares during the last quarter. Brick & Kyle Associates boosted its position in FedEx by 2.2% in the third quarter. Brick & Kyle Associates now owns 664 shares of the shipping service provider’s stock worth $116,000 after buying an additional 14 shares during the last quarter. Coconut Grove Bank boosted its position in FedEx by 2.2% in the third quarter. Coconut Grove Bank now owns 758 shares of the shipping service provider’s stock worth $133,000 after buying an additional 16 shares during the last quarter. Ancora Advisors LLC acquired a new position in shares of FedEx during the fourth quarter valued at approximately $157,000. Finally, Advantage Investment Management LLC acquired a new position in shares of FedEx during the fourth quarter valued at approximately $157,000. 75.22% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently commented on FDX. BMO Capital Markets reiterated an “outperform” rating and issued a $220.00 price target on shares of FedEx in a research report on Thursday, March 23rd. Robert W. Baird lifted their price target on FedEx from $209.00 to $222.00 and gave the stock an “outperform” rating in a research report on Thursday, March 23rd. Raymond James Financial, Inc. reiterated an “outperform” rating on shares of FedEx in a research report on Thursday, March 23rd. Stifel Nicolaus lifted their price target on FedEx from $189.00 to $194.00 and gave the stock a “hold” rating in a research report on Wednesday, March 22nd. Finally, JPMorgan Chase & Co. lifted their price target on FedEx to $236.00 in a research report on Wednesday, March 22nd. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $203.85.
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.