FedEx Co. (NYSE:FDX) CEO David L. Cunningham, Jr. sold 11,499 shares of the business’s stock in a transaction on Wednesday, April 5th. The shares were sold at an average price of $197.89, for a total transaction of $2,275,537.11. Following the sale, the chief executive officer now directly owns 33,677 shares of the company’s stock, valued at $6,664,341.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of FedEx Co. (NYSE:FDX) traded down 0.64% on Friday, reaching $185.28. The company’s stock had a trading volume of 1,696,521 shares. FedEx Co. has a 1-year low of $145.00 and a 1-year high of $201.57. The stock has a market capitalization of $49.54 billion, a P/E ratio of 26.34 and a beta of 1.14. The company has a 50 day moving average of $191.70 and a 200 day moving average of $187.55.
FedEx (NYSE:FDX) last released its earnings results on Tuesday, March 21st. The shipping service provider reported $2.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.62 by $0.27. FedEx had a return on equity of 22.02% and a net margin of 3.35%. The business had revenue of $15 billion for the quarter, compared to analysts’ expectations of $15 billion. During the same quarter last year, the company posted $2.51 earnings per share. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. Equities research analysts expect that FedEx Co. will post $11.93 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Monday, March 13th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, March 9th. This represents a $1.60 annualized dividend and a yield of 0.86%. FedEx’s dividend payout ratio (DPR) is presently 23.46%.
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Institutional investors have recently added to or reduced their stakes in the company. Cornerstone Financial Partners LLC raised its stake in shares of FedEx by 0.3% in the first quarter. Cornerstone Financial Partners LLC now owns 2,118 shares of the shipping service provider’s stock valued at $413,000 after buying an additional 7 shares in the last quarter. Beese Fulmer Investment Management Inc. raised its stake in FedEx by 0.6% in the first quarter. Beese Fulmer Investment Management Inc. now owns 1,327 shares of the shipping service provider’s stock worth $259,000 after buying an additional 8 shares during the period. Alpha Windward LLC raised its stake in FedEx by 0.9% in the third quarter. Alpha Windward LLC now owns 1,112 shares of the shipping service provider’s stock worth $194,000 after buying an additional 10 shares during the period. Adirondack Trust Co. raised its stake in FedEx by 1.5% in the first quarter. Adirondack Trust Co. now owns 662 shares of the shipping service provider’s stock worth $129,000 after buying an additional 10 shares during the period. Finally, Brick & Kyle Associates raised its stake in FedEx by 2.2% in the third quarter. Brick & Kyle Associates now owns 664 shares of the shipping service provider’s stock worth $116,000 after buying an additional 14 shares during the period. Hedge funds and other institutional investors own 75.22% of the company’s stock.
A number of analysts have recently issued reports on FDX shares. JPMorgan Chase & Co. set a $230.00 target price on shares of FedEx and gave the company a “buy” rating in a research note on Thursday, December 22nd. Avondale Partners reissued an “outperform” rating and set a $182.50 target price on shares of FedEx in a research note on Thursday, December 22nd. Aegis started coverage on shares of FedEx in a research note on Friday, December 23rd. They issued a “buy” rating and a $215.00 price objective for the company. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $210.00 price objective on shares of FedEx in a research note on Friday, December 23rd. Finally, Morgan Stanley set a $135.00 price objective on shares of FedEx and gave the stock a “neutral” rating in a research note on Tuesday, December 27th. Five equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. FedEx has an average rating of “Buy” and an average price target of $206.64.
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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