FedEx Co. (FDX) COO David J. Bronczek Sells 46,555 Shares
FedEx Co. (NYSE:FDX) COO David J. Bronczek sold 46,555 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total transaction of $11,894,336.95. Following the completion of the transaction, the chief operating officer now directly owns 48,562 shares of the company’s stock, valued at $12,407,105.38. The sale 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 $3.22 during midday trading on Wednesday, reaching $260.82. 2,143,433 shares of the company were exchanged, compared to its average volume of 2,302,267. FedEx Co. has a 1 year low of $182.89 and a 1 year high of $261.57. The firm has a market capitalization of $69,870.00, a price-to-earnings ratio of 23.97, a P/E/G ratio of 1.51 and a beta of 1.36. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.57.
FedEx (NYSE:FDX) last announced its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.89 by $0.29. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The firm had revenue of $16.30 billion for the quarter, compared to analyst estimates of $15.67 billion. During the same quarter last year, the business earned $2.80 earnings per share. FedEx’s revenue was up 9.4% compared to the same quarter last year. analysts anticipate that FedEx Co. will post 12.96 EPS for the current fiscal year.
A number of research analysts have issued reports on the stock. Wells Fargo & Co set a $275.00 target price on shares of FedEx and gave the company a “buy” rating in a report on Wednesday, December 20th. ValuEngine raised shares of FedEx from a “hold” rating to a “buy” rating in a report on Sunday. Oppenheimer reissued a “buy” rating and set a $265.00 price objective (up from $236.00) on shares of FedEx in a research note on Wednesday, December 20th. Stifel Nicolaus reissued a “hold” rating and set a $221.00 price objective (up from $216.00) on shares of FedEx in a research note on Wednesday, September 20th. Finally, BMO Capital Markets raised their price objective on shares of FedEx from $265.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $259.58.
A number of hedge funds and other institutional investors have recently made changes to their positions in FDX. Vanguard Group Inc. boosted its holdings in shares of FedEx by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock valued at $4,018,446,000 after purchasing an additional 492,840 shares during the last quarter. FMR LLC boosted its holdings in shares of FedEx by 0.3% in the 2nd quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock valued at $984,539,000 after purchasing an additional 15,382 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of FedEx by 7.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,925,763 shares of the shipping service provider’s stock valued at $885,594,000 after purchasing an additional 266,660 shares during the last quarter. Capital World Investors boosted its holdings in shares of FedEx by 16.1% in the 2nd quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock valued at $785,626,000 after purchasing an additional 501,617 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of FedEx by 3.3% in the 3rd quarter. Canada Pension Plan Investment Board now owns 3,612,357 shares of the shipping service provider’s stock valued at $814,875,000 after purchasing an additional 116,500 shares during the last quarter. Hedge funds and other institutional investors own 75.67% of the company’s stock.
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FedEx Company Profile
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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