Insider Selling: FedEx Co. (NYSE:FDX) VP Sells 2,749 Shares of Stock

FedEx Co. (NYSE:FDX) VP Guy M. Erwin II sold 2,749 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total value of $794,763.39. Following the completion of the sale, the vice president now owns 486 shares in the company, valued at $140,507.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

FedEx Price Performance

Shares of FDX stock traded down $1.11 during trading hours on Wednesday, hitting $287.88. The company’s stock had a trading volume of 1,786,434 shares, compared to its average volume of 2,188,714. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The business has a fifty day moving average of $248.74 and a 200-day moving average of $252.07. FedEx Co. has a twelve month low of $213.80 and a twelve month high of $291.27. The stock has a market cap of $70.84 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of 1.34 and a beta of 1.20.

FedEx (NYSE:FDX) 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. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter in the prior year, the firm earned $3.41 EPS. FedEx’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that FedEx Co. will post 17.61 EPS for the current year.

FedEx Dividend Announcement

The company 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 $1.26 dividend. The ex-dividend date is Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a yield of 1.75%. FedEx’s dividend payout ratio (DPR) is 29.07%.

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

Hedge Funds Weigh In On FedEx

Several institutional investors and hedge funds have recently modified their holdings of FDX. Camarda Financial Advisors LLC grew its position in FedEx by 0.6% during the second quarter. Camarda Financial Advisors LLC now owns 6,419 shares of the shipping service provider’s stock valued at $1,591,000 after acquiring an additional 40 shares during the period. M&R Capital Management Inc. grew its position in FedEx by 0.3% during the third quarter. M&R Capital Management Inc. now owns 16,192 shares of the shipping service provider’s stock valued at $4,289,000 after acquiring an additional 41 shares during the period. KRS Capital Management LLC grew its position in FedEx by 4.1% during the fourth quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock valued at $263,000 after acquiring an additional 41 shares during the period. Zullo Investment Group Inc. grew its position in FedEx by 0.7% during the fourth quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock valued at $1,447,000 after acquiring an additional 42 shares during the period. Finally, Toth Financial Advisory Corp grew its position in FedEx by 18.0% during the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after acquiring an additional 44 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FDX shares. UBS Group raised their price target on FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. cut their target price on FedEx from $322.00 to $305.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 20th. BMO Capital Markets raised their price target on FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. Robert W. Baird raised their price target on FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Finally, Evercore ISI raised their price target on FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average price target of $298.89.

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.