Richard W. Smith Sells 2,576 Shares of FedEx Co. (NYSE:FDX) Stock

FedEx Co. (NYSE:FDX) CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

FedEx Trading Down 1.6 %

FDX opened at $270.59 on Friday. The firm’s 50 day moving average is $283.78 and its 200-day moving average is $284.50. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $65.17 billion, a P/E ratio of 16.69, a P/E/G ratio of 1.18 and a beta of 1.20.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.99 EPS. Analysts expect that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio is currently 35.18%.

Wall Street Analyst Weigh In

Several analysts have commented on FDX shares. Stephens lowered their target price on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. UBS Group lifted their price objective on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Evercore ISI dropped their target price on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Stifel Nicolaus raised their price target on FedEx from $321.00 to $368.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, BMO Capital Markets upped their price objective on shares of FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $325.61.

Institutional Investors Weigh In On FedEx

Hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in shares of FedEx during the third quarter worth approximately $3,405,000. Czech National Bank grew its holdings in FedEx by 6.4% during the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock worth $12,564,000 after acquiring an additional 2,767 shares in the last quarter. Magnolia Capital Advisors LLC bought a new stake in shares of FedEx in the 2nd quarter worth about $9,226,000. Raymond James & Associates raised its stake in shares of FedEx by 6.9% in the 3rd quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock valued at $132,926,000 after purchasing an additional 31,241 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its position in shares of FedEx by 52.2% during the fourth quarter. CWA Asset Management Group LLC now owns 6,563 shares of the shipping service provider’s stock worth $1,846,000 after purchasing an additional 2,251 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Company Profile

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.