FedEx (NYSE:FDX) Director Paul S. Walsh sold 4,400 shares of the business’s stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $255.00, for a total transaction of $1,122,000.00. Following the transaction, the director now owns 14,400 shares in the company, valued at approximately $3,672,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
FedEx stock traded up $3.53 during midday trading on Wednesday, hitting $255.53. 2,186,129 shares of the company’s stock were exchanged, compared to its average volume of 1,902,733. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 1.37. FedEx has a 12 month low of $182.89 and a 12 month high of $274.66. The stock has a market cap of $66,980.43, a price-to-earnings ratio of 20.77, a PEG ratio of 1.30 and a beta of 1.38.
FedEx (NYSE:FDX) last issued its earnings results on Tuesday, March 20th. The shipping service provider reported $3.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.11 by $0.61. FedEx had a net margin of 6.99% and a return on equity of 21.65%. The company had revenue of $16.53 billion for the quarter, compared to analysts’ expectations of $16.17 billion. During the same period in the prior year, the business earned $2.35 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. equities analysts expect that FedEx will post 15.14 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Monday, March 12th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Friday, March 9th. FedEx’s payout ratio is 16.26%.
A number of research firms have weighed in on FDX. Zacks Investment Research upgraded shares of FedEx from a “hold” rating to a “strong-buy” rating and set a $310.00 price objective on the stock in a research report on Thursday, January 18th. Bank of America restated a “buy” rating and issued a $315.00 price target on shares of FedEx in a report on Friday, January 12th. BMO Capital Markets restated a “buy” rating and issued a $300.00 price target on shares of FedEx in a report on Monday, January 8th. Robert W. Baird restated a “buy” rating and issued a $280.00 price target on shares of FedEx in a report on Tuesday, January 9th. Finally, UBS upgraded shares of FedEx from a “neutral” rating to a “buy” rating and upped their price target for the stock from $264.00 to $302.00 in a report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have given a buy rating to the company. FedEx presently has an average rating of “Buy” and an average price target of $281.51.
A number of institutional investors have recently modified their holdings of the business. Buckingham Capital Management Inc. lifted its position in shares of FedEx by 9.1% during the third quarter. Buckingham Capital Management Inc. now owns 5,183 shares of the shipping service provider’s stock valued at $1,169,000 after buying an additional 433 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of FedEx by 919.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 90,700 shares of the shipping service provider’s stock valued at $20,546,000 after buying an additional 81,800 shares during the last quarter. AMP Capital Investors Ltd lifted its position in shares of FedEx by 39.5% during the third quarter. AMP Capital Investors Ltd now owns 148,349 shares of the shipping service provider’s stock valued at $33,467,000 after buying an additional 42,025 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of FedEx by 22.0% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 132,844 shares of the shipping service provider’s stock valued at $29,967,000 after buying an additional 23,944 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in shares of FedEx by 3.2% during the third quarter. Asset Management One Co. Ltd. now owns 412,034 shares of the shipping service provider’s stock valued at $92,904,000 after buying an additional 12,662 shares during the last quarter. Institutional investors own 74.70% of the company’s stock.
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FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; assistance with the customs-trade partnership against terrorism program; and customs clearance services, as well as an information tool that allows customers to track and manage imports.
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