FedEx Co. (NYSE:FDX) VP Guy M. Erwin II Sells 2,749 Shares

FedEx Co. (NYSE:FDX) VP Guy M. Erwin II sold 2,749 shares of the company’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 transaction, the vice president now directly owns 486 shares in the company, valued at approximately $140,507.46. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

FedEx Stock Down 0.4 %

FDX stock opened at $287.88 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The company’s 50 day simple moving average is $248.74 and its 200-day simple moving average is $252.07. FedEx Co. has a 12 month low of $213.80 and a 12 month high of $291.27. The firm has a market capitalization of $70.84 billion, a PE ratio of 16.60, a P/E/G ratio of 1.37 and a beta of 1.20.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The firm had revenue of $21.70 billion during 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%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.41 EPS. Equities analysts expect that FedEx Co. will post 17.6 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 11th will be given a dividend of $1.26 per share. The ex-dividend date of this dividend is Friday, March 8th. This represents a $5.04 annualized dividend and a yield of 1.75%. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

FedEx declared that its Board of Directors has approved a stock 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 buy up to 7.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FDX. BMO Capital Markets lifted their price objective on shares of FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. Jefferies Financial Group increased 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. TD Cowen boosted their target price on FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. UBS Group boosted their price objective on FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, StockNews.com cut shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and an average target price of $301.07.

Hedge Funds Weigh In On FedEx

A number of large investors have recently bought and sold shares of FDX. Vanguard Group Inc. lifted its stake in shares of FedEx by 0.4% in the 4th 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. grew its stake in FedEx by 2.0% during the second quarter. BlackRock Inc. now owns 16,155,472 shares of the shipping service provider’s stock worth $4,004,941,000 after buying an additional 313,917 shares during the period. Sentry LLC acquired a new stake in shares of FedEx in the fourth quarter worth $1,811,748,000. Capital International Investors boosted its position in FedEx by 15.2% during the 4th quarter. Capital International Investors now owns 6,667,462 shares of the shipping service provider’s stock worth $1,686,738,000 after purchasing an additional 880,894 shares during the period. Finally, FMR LLC increased its holdings in FedEx by 29.1% in the 3rd 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. Hedge funds and other institutional investors own 84.47% of the company’s stock.

About FedEx

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.