Robert B. Carter Sells 16,010 Shares of FedEx Co. (NYSE:FDX) Stock

FedEx Co. (NYSE:FDX) EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the sale, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

FedEx Stock Down 0.1 %

Shares of NYSE:FDX opened at $298.35 on Wednesday. The business’s 50-day moving average is $258.67 and its 200-day moving average is $256.37. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $302.41. The company has a market capitalization of $73.42 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 1.10 and a beta of 1.18. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The firm had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the business earned $4.94 EPS. Equities research analysts predict that FedEx Co. will post 20.67 earnings per share for the current year.

FedEx Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be issued a $1.38 dividend. The ex-dividend date is Monday, June 24th. This represents a $5.52 annualized dividend and a yield of 1.85%. This is a positive change from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio is presently 32.04%.

FedEx declared that its board has authorized a share repurchase plan on Thursday, March 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of research analyst reports. TD Cowen raised their target price on FedEx from $320.00 to $335.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. JPMorgan Chase & Co. upgraded FedEx from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $296.00 to $359.00 in a research report on Wednesday, June 26th. Stifel Nicolaus restated a “buy” rating and issued a $327.00 price target (up from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. Finally, Argus increased their price objective on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $314.00.

Hedge Funds Weigh In On FedEx

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