FedEx Co. (NYSE:FDX) Director Susan C. Schwab Sells 6,145 Shares

FedEx Co. (NYSE:FDX) Director Susan C. Schwab sold 6,145 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the sale, the director now owns 7,865 shares in the company, valued at $2,265,277.30. The sale was disclosed in a filing with the SEC, which is available at this link.

FedEx Trading Down 0.4 %

Shares of NYSE:FDX opened at $287.88 on Thursday. The company has a market cap of $70.84 billion, a PE ratio of 16.60, a P/E/G ratio of 1.37 and a beta of 1.20. The company’s 50 day moving average is $248.74 and its two-hundred day moving average is $252.07. 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 52 week low of $213.80 and a 52 week high of $291.27.

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

FedEx announced that its Board of Directors has approved a stock buyback plan on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase plans are usually 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. Investors of record on Monday, March 11th will be paid a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Friday, March 8th. FedEx’s dividend payout ratio (DPR) is 29.07%.

Hedge Funds Weigh In On FedEx

Hedge funds have recently added to or reduced their stakes in the business. Scarborough Advisors LLC acquired a new stake in shares of FedEx in the fourth quarter worth approximately $25,000. Fortis Group Advisors LLC boosted its position in shares of FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 50 shares during the last quarter. Financial Management Professionals Inc. boosted its position in shares of FedEx by 143.2% in the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after acquiring an additional 63 shares during the last quarter. Private Wealth Management Group LLC acquired a new stake in shares of FedEx in the fourth quarter worth approximately $28,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of FedEx in the fourth quarter worth approximately $30,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FDX has been the topic of several recent research reports. Oppenheimer restated a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. The Goldman Sachs Group upped their target price on shares of FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. BNP Paribas reissued an “underperform” rating and issued a $250.00 price objective on shares of FedEx in a research report on Wednesday. Bank Of America (Bofa) increased their price objective on shares of FedEx from $330.00 to $334.00 in a research report on Wednesday, December 20th. Finally, Barclays increased their price objective on shares of FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. One investment 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.