Insider Selling: FedEx Co. (NYSE:FDX) Director Sells 2,535 Shares of Stock

FedEx Co. (NYSE:FDX) Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.72, for a total value of $747,115.20. Following the sale, the director now owns 14,745 shares in the company, valued at $4,345,646.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

FedEx Stock Up 1.5 %

FDX opened at $299.84 on Friday. FedEx Co. has a one year low of $224.69 and a one year high of $302.41. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.26 and a current ratio of 1.36. The company has a market capitalization of $73.78 billion, a PE ratio of 17.40, a P/E/G ratio of 1.09 and a beta of 1.16. The stock’s fifty day moving average is $258.10 and its 200-day moving average is $256.36.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating the consensus estimate of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. During the same period in the prior year, the business posted $4.94 earnings per share. FedEx’s revenue was up .8% compared to the same quarter last year. On average, equities analysts predict that FedEx Co. will post 20.51 EPS for the current fiscal year.

FedEx declared that its board has authorized a stock buyback plan on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Monday, June 24th. This is a boost from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio (DPR) is 32.04%.

Analysts Set New Price Targets

Several analysts have recently weighed in on FDX shares. Argus raised their target price on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. raised FedEx from a “neutral” rating to an “overweight” rating and upped their target price for the company from $296.00 to $359.00 in a research report on Wednesday. Bank of America raised their price target on shares of FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a report on Wednesday. Finally, TD Cowen raised their price objective on shares of FedEx from $320.00 to $335.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.00.

Institutional Investors Weigh In On FedEx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FDX. Scarborough Advisors LLC purchased a new stake in shares of FedEx during the 4th quarter worth about $25,000. Fortis Group Advisors LLC lifted its stake in FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Financial Management Professionals Inc. grew its position in FedEx by 143.2% in the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after acquiring an additional 63 shares in the last quarter. Private Wealth Management Group LLC acquired a new position in shares of FedEx during the 4th quarter worth $28,000. Finally, Rakuten Securities Inc. bought a new position in shares of FedEx during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

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.