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

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

FedEx Stock Down 1.6 %

Shares of NYSE FDX opened at $270.59 on Friday. The stock has a market capitalization of $65.17 billion, a price-to-earnings ratio of 16.69, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The firm has a 50-day moving average price of $283.78 and a 200 day moving average price of $284.50. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

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

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend 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 Analysts Forecast Growth

A number of research analysts recently issued reports on FDX shares. Robert W. Baird dropped their price target on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Citigroup lifted their target price on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Bank of America increased their price target on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, Bernstein Bank lifted their price objective on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $325.61.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. IVC Wealth Advisors LLC increased its holdings in FedEx by 2.0% during the 3rd quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock valued at $533,000 after acquiring an additional 38 shares in the last quarter. Citizens Financial Group Inc. RI increased its stake in shares of FedEx by 3.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after purchasing an additional 38 shares in the last quarter. Turtle Creek Wealth Advisors LLC increased its stake in shares of FedEx by 4.0% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock worth $279,000 after purchasing an additional 39 shares in the last quarter. Buckley Wealth Management LLC lifted its stake in FedEx by 1.0% in the 3rd quarter. Buckley Wealth Management LLC now owns 3,975 shares of the shipping service provider’s stock valued at $1,088,000 after buying an additional 40 shares in the last quarter. Finally, Evermay Wealth Management LLC lifted its stake in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares in the last quarter. 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.