FedEx Co. (NYSE:FDX) EVP Mark R. Allen Sells 10,145 Shares of Stock

FedEx Co. (NYSE:FDX) EVP Mark R. Allen sold 10,145 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $287.28, for a total transaction of $2,914,455.60. Following the completion of the sale, the executive vice president now directly owns 36,853 shares in the company, valued at approximately $10,587,129.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

FedEx Trading Up 0.6 %

NYSE:FDX opened at $289.70 on Friday. FedEx Co. has a one year low of $213.80 and a one year high of $291.27. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The company’s 50-day simple moving average is $249.64 and its 200 day simple moving average is $252.32. The firm has a market capitalization of $71.29 billion, a P/E ratio of 16.71, a PEG ratio of 1.36 and a beta of 1.20.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.37. The business had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.41 earnings per share. As a group, analysts forecast that FedEx Co. will post 17.6 EPS for the current fiscal year.

FedEx declared that its board has authorized a stock repurchase plan on Thursday, March 21st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 11th will be issued a dividend of $1.26 per share. The ex-dividend date is Friday, March 8th. This represents a $5.04 annualized dividend and a dividend yield of 1.74%. FedEx’s payout ratio is 29.07%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FDX. Melius raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Evercore ISI upped their target price on shares of FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. BMO Capital Markets upped their target price on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. Jefferies Financial Group increased their price objective on shares of FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Finally, BNP Paribas reiterated an “underperform” rating and issued a $250.00 price objective on shares of FedEx in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.07.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FDX. Camarda Financial Advisors LLC grew its position in FedEx by 0.6% during the second quarter. Camarda Financial Advisors LLC now owns 6,419 shares of the shipping service provider’s stock valued at $1,591,000 after buying an additional 40 shares during the period. M&R Capital Management Inc. grew its position in FedEx by 0.3% during the third quarter. M&R Capital Management Inc. now owns 16,192 shares of the shipping service provider’s stock valued at $4,289,000 after buying an additional 41 shares during the period. KRS Capital Management LLC grew its position in FedEx by 4.1% during the fourth quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock valued at $263,000 after buying an additional 41 shares during the period. Zullo Investment Group Inc. boosted its position in shares of FedEx by 0.7% in the fourth quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock worth $1,447,000 after purchasing an additional 42 shares during the period. Finally, Toth Financial Advisory Corp boosted its position in shares of FedEx by 18.0% in the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock worth $73,000 after purchasing an additional 44 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

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.