FedEx Corp. (NYSE:FDX) EVP Christine P. Richards sold 80,080 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $173.59, for a total transaction of $13,901,087.20. Following the transaction, the executive vice president now directly owns 98,620 shares in the company, valued at $17,119,445.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
FedEx Corp. (NYSE:FDX) opened at 174.08 on Wednesday. The company has a market cap of $46.26 billion, a P/E ratio of 26.04 and a beta of 1.28. The company’s 50-day moving average is $168.34 and its 200-day moving average is $163.47. FedEx Corp. has a 52 week low of $119.71 and a 52 week high of $177.36.
FedEx Corp. (NYSE:FDX) last posted its earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.81 by $0.09. The business had revenue of $14.70 billion for the quarter. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The business’s revenue was up 19.5% on a year-over-year basis. During the same period last year, the company posted $2.42 EPS. On average, analysts anticipate that FedEx Corp. will post $12.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 12th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, September 8th. FedEx Corp.’s dividend payout ratio (DPR) is presently 23.99%.
Several research analysts have recently commented on FDX shares. Robert W. Baird reaffirmed an “outperform” rating and set a $185.00 target price on shares of FedEx Corp. in a report on Friday, September 23rd. Sanford C. Bernstein set a $159.00 target price on shares of FedEx Corp. and gave the stock a “neutral” rating in a report on Wednesday, September 21st. Credit Suisse Group AG reaffirmed a “buy” rating on shares of FedEx Corp. in a report on Thursday, June 16th. Vetr raised shares of FedEx Corp. from a “buy” rating to a “strong-buy” rating and set a $179.94 target price on the stock in a report on Monday, July 25th. Finally, Zacks Investment Research cut shares of FedEx Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 23rd. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $176.59.
A number of hedge funds have recently bought and sold shares of the company. Sun Life Financial INC purchased a new stake in FedEx Corp. during the first quarter worth $52,233,000. First Personal Financial Services raised its stake in 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 during the period. Glassman Wealth Services raised its stake in 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 during the period. Invictus RG purchased a new stake in FedEx Corp. during the first quarter worth $161,000. Finally, Park National Corp OH purchased a new stake in FedEx Corp. during the third quarter worth $204,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.
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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