FedEx Co. (NYSE:FDX) EVP Robert B. Carter Sells 16,010 Shares

FedEx Co. (NYSE:FDX) EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

FedEx Price Performance

FDX stock opened at $298.74 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The company’s 50-day moving average is $258.10 and its 200-day moving average is $256.24. The stock has a market capitalization of $73.51 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 1.10 and a beta of 1.16. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $302.41.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. During the same quarter in the prior year, the company earned $4.94 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. Equities research analysts expect that FedEx Co. will post 20.67 EPS for the current fiscal year.

FedEx announced that its board has approved a stock repurchase program on Thursday, March 21st that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.85%. This is a positive change from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date is Monday, June 24th. FedEx’s dividend payout ratio (DPR) is 32.04%.

Institutional Investors Weigh In On FedEx

A number of institutional investors and hedge funds have recently made changes to their positions in FDX. Lazari Capital Management Inc. purchased a new stake in shares of FedEx in the first quarter worth approximately $202,000. Keynote Financial Services LLC purchased a new stake in FedEx in the 1st quarter valued at $288,000. EverSource Wealth Advisors LLC lifted its stake in FedEx by 0.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 12,496 shares of the shipping service provider’s stock valued at $3,621,000 after acquiring an additional 45 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in FedEx by 45.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 148,573 shares of the shipping service provider’s stock worth $42,610,000 after acquiring an additional 46,244 shares during the last quarter. Finally, Pathway Financial Advisers LLC bought a new stake in shares of FedEx in the 1st quarter worth $89,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FDX. Stephens reaffirmed an “overweight” rating and issued a $325.00 target price on shares of FedEx in a report on Wednesday, June 26th. JPMorgan Chase & Co. raised FedEx from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $296.00 to $359.00 in a research note on Wednesday, June 26th. Morgan Stanley lifted their target price on shares of FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. UBS Group decreased their price target on shares of FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a research report on Tuesday, May 21st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $327.00 price objective (up previously from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $314.00.

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.