FedEx Corp. (NYSE:FDX) insider Henry J. Maier sold 5,213 shares of the business’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $176.65, for a total value of $920,876.45. Following the completion of the sale, the insider now owns 27,720 shares in the company, valued at approximately $4,896,738. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of FedEx Corp. (NYSE:FDX) opened at 174.68 on Friday. The firm has a market cap of $46.42 billion, a PE ratio of 26.13 and a beta of 1.35. FedEx Corp. has a 12-month low of $119.71 and a 12-month 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 announced its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 EPS for the quarter, beating the Zacks’ consensus estimate of $2.81 by $0.09. The business earned $14.70 billion during the quarter. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.42 EPS. Analysts expect that FedEx Corp. will post $12.14 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Thursday, September 8th. FedEx Corp.’s dividend payout ratio is currently 23.99%.
FDX has been the subject of several analyst reports. Robert W. Baird reissued an “outperform” rating and set a $185.00 target price on shares of FedEx Corp. in a research note on Friday, September 23rd. Vetr cut FedEx Corp. from a “buy” rating to a “hold” rating and set a $179.94 target price for the company. in a research note on Tuesday. Zacks Investment Research raised FedEx Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. Sanford C. Bernstein set a $159.00 target price on FedEx Corp. and gave the stock a “neutral” rating in a research note on Wednesday, September 21st. Finally, Oppenheimer Holdings Inc. boosted their target price on FedEx Corp. from $180.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 21st. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $176.59.
Several hedge funds and other institutional investors have recently made changes to their positions in FDX. First Personal Financial Services raised its position in shares of FedEx Corp. by 18.6% in the second quarter. First Personal Financial Services now owns 708 shares of the shipping service provider’s stock worth $107,000 after buying an additional 111 shares in the last quarter. Glassman Wealth Services raised its position in shares of FedEx Corp. by 200.6% in the second quarter. Glassman Wealth Services now owns 974 shares of the shipping service provider’s stock worth $148,000 after buying an additional 650 shares in the last quarter. Invictus RG bought a new position in shares of FedEx Corp. during the first quarter worth approximately $161,000. Beese Fulmer Investment Management Inc. raised its position in shares of FedEx Corp. by 2.5% in the second quarter. Beese Fulmer Investment Management Inc. now owns 1,319 shares of the shipping service provider’s stock worth $200,000 after buying an additional 32 shares in the last quarter. Finally, HBK Sorce Advisory LLC bought a new position in shares of FedEx Corp. during the second quarter worth approximately $202,000. 73.78% of the stock is owned by institutional investors and hedge funds.
About FedEx Corp.
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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