FedEx Corp. (NYSE:FDX) CEO David J. Bronczek sold 32,669 shares of the business’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $176.30, for a total transaction of $5,759,544.70. Following the completion of the transaction, the chief executive officer now owns 85,356 shares of the company’s stock, valued at $15,048,262.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
FedEx Corp. (NYSE:FDX) opened at 174.68 on Friday. The stock has a 50 day moving average of $166.98 and a 200 day moving average of $162.66. The stock has a market cap of $46.42 billion, a price-to-earnings ratio of 26.13 and a beta of 1.35. FedEx Corp. has a 1-year low of $119.71 and a 1-year high of $177.36.
FedEx Corp. (NYSE:FDX) last announced its earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.81 by $0.09. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. The business earned $14.70 billion during the quarter. During the same period in the prior year, the business earned $2.42 EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. Equities analysts expect that FedEx Corp. will post $12.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.60 annualized dividend and a yield of 0.92%. FedEx Corp.’s dividend payout ratio is currently 23.99%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Carnick & Kubik Group LLC purchased a new position in shares of FedEx Corp. during the second quarter valued at $1,066,000. Williams Jones & Associates LLC boosted its position in shares of FedEx Corp. by 10.0% in the second quarter. Williams Jones & Associates LLC now owns 122,828 shares of the shipping service provider’s stock valued at $18,643,000 after buying an additional 11,175 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of FedEx Corp. during the second quarter valued at $1,530,000. Kentucky Retirement Systems purchased a new position in shares of FedEx Corp. during the second quarter valued at $3,222,000. Finally, Mason Street Advisors LLC purchased a new position in shares of FedEx Corp. during the second quarter valued at $5,103,000. 73.78% of the stock is owned by institutional investors and hedge funds.
A number of research firms have weighed in on FDX. Stifel Nicolaus restated a “buy” rating and set a $179.00 price objective (up from $178.00) on shares of FedEx Corp. in a research report on Wednesday, June 22nd. Cowen and Company restated a “buy” rating and set a $180.00 price objective on shares of FedEx Corp. in a research report on Saturday, June 18th. Morgan Stanley restated a “hold” rating on shares of FedEx Corp. in a research report on Monday, June 6th. Oppenheimer Holdings Inc. upped their price objective on shares of FedEx Corp. from $180.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 21st. Finally, Vetr upgraded shares of FedEx Corp. from a “buy” rating to a “strong-buy” rating and set a $179.94 price objective for the company in a research report on Tuesday, August 2nd. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. FedEx Corp. presently has a consensus rating of “Buy” and a consensus price target of $176.59.
FedEx Corp. 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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