Insider Selling: FedEx (NYSE:FDX) CFO Sells $5,298,635.82 in Stock

FedEx Corporation (NYSE:FDX) CFO Claude Russ sold 16,762 shares of the business’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $316.11, for a total value of $5,298,635.82. Following the transaction, the chief financial officer owned 4,387 shares in the company, valued at approximately $1,386,774.57. This represents a 79.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

FedEx Trading Up 0.2%

FDX traded up $0.72 during midday trading on Tuesday, reaching $319.56. 1,163,309 shares of the company’s stock traded hands, compared to its average volume of 1,985,332. FedEx Corporation has a 52 week low of $203.20 and a 52 week high of $345.36. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.29. The firm has a fifty day moving average of $302.64 and a two-hundred day moving average of $337.42. The stock has a market capitalization of $74.84 billion, a price-to-earnings ratio of 19.65, a P/E/G ratio of 1.33 and a beta of 1.27.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Wednesday, October 28th. The shipping service provider reported $3.74 earnings per share for the quarter, topping analysts’ consensus estimates of $3.34 by $0.40. FedEx had a return on equity of 15.53% and a net margin of 4.09%. The firm had revenue of $22.93 billion for the quarter, compared to analyst estimates of $22.73 billion. During the same period last year, the company earned $3.83 EPS. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities analysts anticipate that FedEx Corporation will post 18.29 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, September 14th were issued a $1.22 dividend. The ex-dividend date was Monday, September 14th. This represents a $4.88 annualized dividend and a yield of 1.5%. FedEx’s payout ratio is 30.01%.

Analysts Set New Price Targets

A number of research analysts have issued reports on FDX shares. Citigroup boosted their price objective on shares of FedEx from $373.00 to $374.00 and gave the company a “buy” rating in a research report on Monday, November 2nd. BNP Paribas Exane raised their target price on shares of FedEx from $269.80 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 30th. Citizens Jmp started coverage on shares of FedEx in a research note on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 target price on the stock. Evercore boosted their price target on shares of FedEx from $350.00 to $351.00 in a research report on Monday, September 28th. Finally, Raymond James Financial set a $162.00 price target on shares of FedEx in a research note on Tuesday, November 3rd. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $359.16.

Hedge Funds Weigh In On FedEx

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp lifted its holdings in shares of FedEx by 104.9% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider’s stock valued at $6,169,000 after acquiring an additional 8,868 shares during the last quarter. First Nebraska Trust Co bought a new stake in FedEx during the first quarter worth approximately $10,675,000. NewEdge Advisors LLC increased its stake in FedEx by 74.1% during the second quarter. NewEdge Advisors LLC now owns 34,354 shares of the shipping service provider’s stock worth $10,757,000 after acquiring an additional 14,624 shares during the last quarter. Archer Investment Corp purchased a new stake in FedEx during the second quarter valued at approximately $1,147,000. Finally, Tidal Investments LLC raised its position in FedEx by 9.8% during the second quarter. Tidal Investments LLC now owns 48,662 shares of the shipping service provider’s stock valued at $15,238,000 after purchasing an additional 4,340 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

About FedEx

FedEx Corporation is a global transportation and logistics company that provides delivery, freight, and supply chain services to businesses and consumers. Its offerings include express and ground package delivery, freight transportation, customs clearance, and logistics solutions that help customers manage shipping and distribution. Founded by Frederick W. Smith in 1971, FedEx began operations in 1973. The company serves customers throughout the United States and in international markets, connecting businesses and consumers through its transportation and delivery networks.