FedEx Co. (NYSE:FDX) CEO Sriram Krishnasamy Sells 354 Shares of Stock

FedEx Co. (NYSE:FDX) CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the completion of the transaction, the chief executive officer now owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

FedEx Stock Performance

FedEx stock opened at $289.70 on Friday. 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. The firm has a market capitalization of $71.29 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 1.36 and a beta of 1.20. The company’s 50-day moving average is $249.64 and its 200 day moving average is $252.32.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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. The company 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%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.41 EPS. Research analysts forecast that FedEx Co. will post 17.6 EPS for the current year.

FedEx Announces Dividend

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

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

Hedge Funds Weigh In On FedEx

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of FedEx by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 18,812,104 shares of the shipping service provider’s stock valued at $4,758,898,000 after purchasing an additional 82,994 shares in the last quarter. BlackRock Inc. boosted its stake in shares of FedEx by 2.0% during the second quarter. BlackRock Inc. now owns 16,155,472 shares of the shipping service provider’s stock valued at $4,004,941,000 after purchasing an additional 313,917 shares in the last quarter. Sentry LLC bought a new position in shares of FedEx during the fourth quarter valued at approximately $1,811,748,000. Capital International Investors boosted its stake in shares of FedEx by 15.2% during the fourth quarter. Capital International Investors now owns 6,667,462 shares of the shipping service provider’s stock valued at $1,686,738,000 after purchasing an additional 880,894 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of FedEx by 29.1% during the third quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after purchasing an additional 916,555 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Stephens decreased their price objective on shares of FedEx from $330.00 to $320.00 and set an “overweight” rating for the company in a report on Wednesday, December 20th. Melius Research upgraded shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 target price for the company in a research note on Monday, January 8th. BNP Paribas reiterated an “underperform” rating and set a $250.00 target price on shares of FedEx in a research note on Wednesday. Barclays boosted their target price on shares of FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Finally, UBS Group boosted their target price on shares of FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, FedEx has an average rating of “Moderate Buy” and an average 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.