FedEx Corp. (NYSE:FDX) EVP Robert B. Carter sold 24,784 shares of the business’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $176.95, for a total value of $4,385,528.80. Following the completion of the sale, the executive vice president now directly owns 68,183 shares of the company’s stock, valued at approximately $12,064,981.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
FedEx Corp. (NYSE:FDX) opened at 174.68 on Friday. The company has a market capitalization of $46.42 billion, a PE ratio of 26.13 and a beta of 1.35. FedEx Corp. has a one year low of $119.71 and a one year high of $177.36. The company has a 50-day moving average price of $166.98 and a 200-day moving average price of $162.66.
FedEx Corp. (NYSE:FDX) last issued its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 EPS for the quarter, topping the consensus estimate of $2.81 by $0.09. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The firm had revenue of $14.70 billion for the quarter. During the same quarter in the prior year, the company posted $2.42 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. Analysts expect that FedEx Corp. will post $12.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 12th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.60 dividend on an annualized basis and a yield of 0.92%. FedEx Corp.’s dividend payout ratio (DPR) is presently 23.99%.
A number of equities research analysts have recently weighed in on the company. Cowen and Company reissued a “buy” rating and issued a $180.00 target price on shares of FedEx Corp. in a research note on Saturday, June 18th. Deutsche Bank AG upped their price target on FedEx Corp. from $190.00 to $198.00 and gave the company a “buy” rating in a research report on Thursday, June 23rd. Robert W. Baird reaffirmed a “buy” rating and set a $176.00 price target on shares of FedEx Corp. in a research report on Thursday, June 23rd. Stifel Nicolaus upped their price target on FedEx Corp. from $179.00 to $186.00 and gave the company a “buy” rating in a research report on Wednesday, September 21st. Finally, Oppenheimer Holdings Inc. upped their price target on FedEx Corp. from $180.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, September 21st. 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 company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $176.59.
Large investors have recently added to or reduced their stakes in the company. Cottage Street Advisors LLC raised its stake in FedEx Corp. by 4.0% in the first quarter. Cottage Street Advisors LLC now owns 9,050 shares of the shipping service provider’s stock worth $1,475,000 after buying an additional 350 shares during the period. Ngam Advisors L.P. raised its stake in FedEx Corp. by 77.1% in the first quarter. Ngam Advisors L.P. now owns 104,472 shares of the shipping service provider’s stock worth $17,000,000 after buying an additional 45,491 shares during the period. Morris Capital Advisors LLC acquired a new stake in FedEx Corp. during the first quarter worth about $453,000. Check Capital Management Inc. CA raised its stake in FedEx Corp. by 26.8% in the first quarter. Check Capital Management Inc. CA now owns 299,431 shares of the shipping service provider’s stock worth $48,723,000 after buying an additional 63,255 shares during the period. Finally, CIBC World Markets Inc. raised its stake in FedEx Corp. by 19.6% in the first quarter. CIBC World Markets Inc. now owns 26,733 shares of the shipping service provider’s stock worth $4,350,000 after buying an additional 4,381 shares during the period. Institutional investors own 73.78% 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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