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

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

FedEx Trading Up 0.6 %

Shares of FDX stock traded up $1.82 during trading on Thursday, hitting $289.70. 1,650,726 shares of the stock traded hands, compared to its average volume of 2,179,895. The firm has a market capitalization of $71.29 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 1.37 and a beta of 1.20. FedEx Co. has a 52-week low of $213.80 and a 52-week 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 firm’s fifty day moving average price is $249.64 and its 200-day moving average price is $252.32.

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

FedEx announced that its Board of Directors has initiated a share repurchase plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically an indication 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 given a dividend of $1.26 per share. The ex-dividend date is Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.74%. FedEx’s payout ratio is currently 29.07%.

Institutional Investors Weigh In On FedEx

Institutional investors and hedge funds have recently modified their holdings of the company. Fortis Group Advisors LLC increased its stake in FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 50 shares during the period. Scarborough Advisors LLC purchased a new position in shares of FedEx in the fourth quarter valued at approximately $25,000. Financial Management Professionals Inc. grew its holdings 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 valued at $27,000 after purchasing an additional 63 shares in the last quarter. Private Wealth Management Group LLC purchased a new stake in FedEx during the 4th quarter worth approximately $28,000. Finally, Rakuten Securities Inc. acquired a new stake in FedEx during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FDX. Robert W. Baird upped their price target on shares of FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Melius upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. The Goldman Sachs Group boosted their price target on FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Stifel Nicolaus reduced their price objective on FedEx from $305.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. Finally, Bank of America upped their target price on FedEx from $313.00 to $346.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $301.07.

About FedEx

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.