FedEx Corporation (FDX) Insider Sells $2,547,329.00 in Stock
FedEx Corporation (NYSE:FDX) insider Henry J. Maier sold 11,150 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $228.46, for a total value of $2,547,329.00. Following the completion of the transaction, the insider now owns 36,747 shares of the company’s stock, valued at $8,395,219.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
FedEx Corporation (FDX) traded up 1.57% during trading on Thursday, reaching $229.04. The company’s stock had a trading volume of 1,429,948 shares. The firm has a 50 day moving average price of $220.04 and a 200-day moving average price of $207.81. FedEx Corporation has a 52-week low of $168.00 and a 52-week high of $230.08. The stock has a market cap of $61.42 billion, a price-to-earnings ratio of 21.59 and a beta of 1.31.
FedEx Corporation (NYSE:FDX) last released its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The company had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $15.35 billion. During the same quarter last year, the firm posted $2.90 EPS. The company’s quarterly revenue was up 4.1% on a year-over-year basis. On average, analysts expect that FedEx Corporation will post $12.46 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Monday, September 11th were given a $0.50 dividend. The ex-dividend date was Friday, September 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.87%. FedEx Corporation’s dividend payout ratio (DPR) is presently 18.87%.
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A number of analysts have weighed in on the company. Cowen and Company reiterated a “buy” rating and issued a $240.00 price target on shares of FedEx Corporation in a research report on Thursday, August 10th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $236.00 price target on shares of FedEx Corporation in a research report on Friday, October 20th. BidaskClub cut FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Stifel Nicolaus reiterated a “hold” rating and issued a $221.00 price target (up from $216.00) on shares of FedEx Corporation in a research report on Wednesday, September 20th. Finally, Wells Fargo & Company upped their price target on FedEx Corporation from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, September 21st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $228.56.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Krilogy Financial LLC grew its position in shares of FedEx Corporation by 0.4% in the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after buying an additional 2 shares during the last quarter. Cribstone Capital Management LLC lifted its stake in shares of FedEx Corporation by 1.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock valued at $107,000 after purchasing an additional 6 shares during the period. Guardian Life Insurance Co. of America lifted its stake in shares of FedEx Corporation by 1.0% in the 1st quarter. Guardian Life Insurance Co. of America now owns 943 shares of the shipping service provider’s stock valued at $184,000 after purchasing an additional 9 shares during the period. Park National Corp OH lifted its stake in shares of FedEx Corporation by 0.9% in the 2nd quarter. Park National Corp OH now owns 1,178 shares of the shipping service provider’s stock valued at $256,000 after purchasing an additional 10 shares during the period. Finally, Argent Trust Co lifted its stake in shares of FedEx Corporation by 0.3% in the 1st quarter. Argent Trust Co now owns 4,516 shares of the shipping service provider’s stock valued at $882,000 after purchasing an additional 12 shares during the period. Hedge funds and other institutional investors own 76.04% of the company’s stock.
About FedEx Corporation
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.
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