FedEx Corp. (NYSE:FDX) EVP Christine P. Richards sold 80,080 shares of the stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $173.59, for a total value of $13,901,087.20. Following the completion of the sale, the executive vice president now directly owns 98,620 shares of the company’s stock, valued at approximately $17,119,445.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of FedEx Corp. (NYSE:FDX) opened at 173.54 on Thursday. The firm has a market capitalization of $46.12 billion, a price-to-earnings ratio of 25.96 and a beta of 1.28. FedEx Corp. has a 52 week low of $119.71 and a 52 week high of $177.36. The stock’s 50 day moving average price is $168.49 and its 200-day moving average price is $163.54.
FedEx Corp. (NYSE:FDX) last announced its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 EPS for the quarter, beating the consensus estimate of $2.81 by $0.09. The firm had revenue of $14.70 billion for the quarter. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. FedEx Corp.’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.42 earnings per share. Equities analysts predict that FedEx Corp. will post $12.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 12th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $1.60 annualized dividend and a dividend yield of 0.92%. FedEx Corp.’s dividend payout ratio (DPR) is presently 23.99%.
A number of equities research analysts recently weighed in on FDX shares. Wolfe Research upgraded FedEx Corp. from a “market perform” rating to an “outperform” rating in a research note on Friday, July 1st. Cowen and Company restated a “market perform” rating and issued a $110.00 price target on shares of FedEx Corp. in a research note on Sunday, July 31st. Zacks Investment Research cut FedEx Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 23rd. Vetr cut FedEx Corp. from a “strong-buy” rating to a “buy” rating and set a $179.94 price target on the stock. in a research note on Monday, August 8th. Finally, Bank of America Corp. restated a “buy” rating on shares of FedEx Corp. in a research note on Thursday, June 16th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. FedEx Corp. currently has a consensus rating of “Buy” and a consensus target price of $176.59.
Several institutional investors have recently made changes to their positions in FDX. Canada Pension Plan Investment Board raised its position in shares of FedEx Corp. by 1.1% in the first quarter. Canada Pension Plan Investment Board now owns 3,136,906 shares of the shipping service provider’s stock valued at $510,437,000 after buying an additional 33,361 shares during the period. Credit Agricole S A raised its position in shares of FedEx Corp. by 60.1% in the first quarter. Credit Agricole S A now owns 404,342 shares of the shipping service provider’s stock valued at $65,794,000 after buying an additional 151,723 shares during the period. Carnick & Kubik LLC purchased a new position in shares of FedEx Corp. during the first quarter valued at approximately $1,121,000. Lumbard & Kellner LLC raised its position in shares of FedEx Corp. by 2.6% in the first quarter. Lumbard & Kellner LLC now owns 28,760 shares of the shipping service provider’s stock valued at $4,680,000 after buying an additional 730 shares during the period. Finally, Aviva PLC raised its position in shares of FedEx Corp. by 1.3% in the first quarter. Aviva PLC now owns 148,365 shares of the shipping service provider’s stock valued at $24,142,000 after buying an additional 1,854 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.
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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