FedEx Co. (NYSE:FDX) VP Sells $794,763.39 in Stock

FedEx Co. (NYSE:FDX) VP Guy M. Erwin II sold 2,749 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the sale, the vice president now owns 486 shares of the company’s stock, valued at approximately $140,507.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

FedEx Stock Performance

NYSE FDX opened at $287.88 on Thursday. The firm has a market cap of $70.84 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 1.37 and a beta of 1.20. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. FedEx Co. has a 1-year low of $213.80 and a 1-year high of $291.27. The company has a 50 day moving average of $248.74 and a 200-day moving average of $252.07.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same quarter in the previous year, the firm earned $3.41 earnings per share. The business’s revenue was down 2.1% on a year-over-year basis. On average, equities analysts forecast that FedEx Co. will post 17.6 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 11th will be given a dividend of $1.26 per share. The ex-dividend date of this dividend is Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.75%. FedEx’s payout ratio is currently 29.07%.

FedEx declared that its board has initiated a stock repurchase plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of FedEx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FDX. Vanguard Group Inc. boosted its stake in FedEx by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 18,812,104 shares of the shipping service provider’s stock valued at $4,758,898,000 after acquiring an additional 82,994 shares during the last quarter. BlackRock Inc. grew its position in shares of FedEx by 2.0% during the 2nd quarter. BlackRock Inc. now owns 16,155,472 shares of the shipping service provider’s stock worth $4,004,941,000 after buying an additional 313,917 shares during the period. Sentry LLC acquired a new stake in shares of FedEx in the 4th quarter valued at approximately $1,811,748,000. Capital International Investors raised its holdings in FedEx by 15.2% in the fourth quarter. Capital International Investors now owns 6,667,462 shares of the shipping service provider’s stock worth $1,686,738,000 after purchasing an additional 880,894 shares during the period. Finally, FMR LLC grew its stake in FedEx by 29.1% in the third quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after acquiring an additional 916,555 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. BNP Paribas reissued an “underperform” rating and set a $250.00 price target on shares of FedEx in a research note on Wednesday. Raymond James dropped their price objective on shares of FedEx from $279.00 to $275.00 and set an “outperform” rating for the company in a research note on Wednesday, December 20th. Stifel Nicolaus lowered their target price on FedEx from $305.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, March 21st. Oppenheimer restated a “market perform” rating on shares of FedEx in a report on Friday, March 22nd. Finally, Bank Of America (Bofa) lifted their price target on shares of FedEx from $330.00 to $334.00 in a report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $301.07.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.