Insider Selling: FedEx Co. (NYSE:FDX) Director Sells $747,115.20 in Stock

FedEx Co. (NYSE:FDX) Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.72, for a total value of $747,115.20. Following the transaction, the director now directly owns 14,745 shares in the company, valued at $4,345,646.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

FedEx Stock Up 1.5 %

NYSE FDX opened at $299.84 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.26. The firm has a market cap of $73.78 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 1.10 and a beta of 1.16. The stock’s 50 day simple moving average is $258.10 and its 200 day simple moving average is $256.24. FedEx Co. has a one year low of $224.69 and a one year high of $302.41.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. During the same period in the prior year, the firm earned $4.94 earnings per share. FedEx’s revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts forecast that FedEx Co. will post 20.67 earnings per share for the current fiscal year.

FedEx announced that its Board of Directors has approved a share repurchase program on Thursday, March 21st that authorizes the company to buyback $5.00 billion in 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 leadership believes its shares are undervalued.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be given a dividend of $1.38 per share. This is a boost from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date of this dividend is Monday, June 24th. This represents a $5.52 annualized dividend and a dividend yield of 1.84%. FedEx’s payout ratio is currently 32.04%.

Hedge Funds Weigh In On FedEx

Several hedge funds have recently added to or reduced their stakes in FDX. O Shaughnessy Asset Management LLC raised its position in shares of FedEx by 70.2% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 12,130 shares of the shipping service provider’s stock valued at $3,213,000 after acquiring an additional 5,003 shares during the period. Sherbrooke Park Advisers LLC acquired a new position in shares of FedEx in the 3rd quarter valued at $445,000. Ironwood Investment Counsel LLC bought a new stake in shares of FedEx in the 3rd quarter valued at $699,000. Schonfeld Strategic Advisors LLC lifted its holdings in FedEx by 112.5% during the third quarter. Schonfeld Strategic Advisors LLC now owns 694,435 shares of the shipping service provider’s stock worth $183,970,000 after acquiring an additional 367,683 shares in the last quarter. Finally, Blackstone Inc. acquired a new position in FedEx in the third quarter valued at about $10,597,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on FDX shares. Bank of America raised their price target on shares of FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. BNP Paribas reissued an “underperform” rating and set a $250.00 target price on shares of FedEx in a research note on Wednesday, March 27th. Argus increased their price objective on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday. Jefferies Financial Group boosted their target price on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Finally, TD Cowen raised their price target on FedEx from $320.00 to $335.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $314.00.

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.