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

FedEx Co. (NYSE:FDXGet Free Report) EVP Mark R. Allen sold 10,145 shares of the company’s 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 directly owns 36,853 shares of the company’s stock, valued at $10,587,129.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

FedEx Stock Performance

NYSE FDX opened at $289.74 on Friday. The business has a 50 day moving average price of $250.55 and a 200 day moving average price of $252.58. The company has a market capitalization of $71.30 billion, a P/E ratio of 16.71, a PEG ratio of 1.36 and a beta of 1.20. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. FedEx Co. has a 1-year low of $213.80 and a 1-year high of $291.27.

FedEx (NYSE:FDXGet Free Report) last announced its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. The firm had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. FedEx’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.41 EPS. Sell-side analysts expect that FedEx Co. will post 17.6 EPS for the current fiscal year.

FedEx announced that its board has initiated a stock repurchase program on Thursday, March 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

FedEx Dividend Announcement

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

Analysts Set New Price Targets

FDX has been the subject of a number of research analyst reports. TD Cowen upped their target price on FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Barclays upped their price objective on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Stephens reduced their price objective on FedEx from $330.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, December 20th. StockNews.com downgraded FedEx from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 11th. Finally, Jefferies Financial Group upped their price objective on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $301.07.

Check Out Our Latest Stock Analysis on FedEx

Institutional Investors Weigh In On FedEx

Several hedge funds have recently made changes to their positions in FDX. RB Capital Management LLC boosted its holdings in shares of FedEx by 3.3% during the first quarter. RB Capital Management LLC now owns 1,951 shares of the shipping service provider’s stock worth $451,000 after purchasing an additional 63 shares during the last quarter. AMI Investment Management Inc. boosted its holdings in shares of FedEx by 43.9% during the first quarter. AMI Investment Management Inc. now owns 15,385 shares of the shipping service provider’s stock worth $3,560,000 after purchasing an additional 4,693 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in shares of FedEx by 101.5% during the first quarter. Moors & Cabot Inc. now owns 4,274 shares of the shipping service provider’s stock worth $989,000 after purchasing an additional 2,153 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in shares of FedEx by 7.8% during the first quarter. Baird Financial Group Inc. now owns 148,735 shares of the shipping service provider’s stock worth $34,408,000 after purchasing an additional 10,731 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its position in shares of FedEx by 553.3% in the 1st quarter. Loomis Sayles & Co. L P now owns 392 shares of the shipping service provider’s stock worth $91,000 after buying an additional 332 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for FedEx (NYSE:FDX)

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