Insider Selling: FedEx Co. (NYSE:FDX) EVP Sells $607,821.94 in Stock

FedEx Co. (NYSE:FDX) EVP Brie Carere sold 1,958 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the sale, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

FedEx Stock Performance

FDX opened at $306.31 on Friday. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84. The stock has a market cap of $75.38 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 1.11 and a beta of 1.18. The business has a 50 day moving average of $268.99 and a 200-day moving average of $260.56. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. During the same period last year, the firm posted $4.94 earnings per share. The business’s revenue was up .8% on a year-over-year basis. On average, equities research analysts expect that FedEx Co. will post 20.94 earnings per share for the current year.

FedEx Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Monday, June 24th were issued a dividend of $1.38 per share. This is a boost from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Monday, June 24th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Institutional Trading of FedEx

Hedge funds have recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new stake in FedEx during the 4th quarter worth approximately $25,000. Fortis Group Advisors LLC lifted its holdings in FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Financial Management Professionals Inc. lifted its holdings in FedEx by 143.2% during the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after purchasing an additional 63 shares during the last quarter. Private Wealth Management Group LLC bought a new position in FedEx during the 4th quarter worth $28,000. Finally, Rakuten Securities Inc. bought a new position in FedEx during the 4th quarter worth $30,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FDX shares. UBS Group lowered their price target on FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a report on Tuesday, May 21st. Evercore ISI lowered their price target on FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a report on Monday, June 24th. Morgan Stanley increased their price objective on FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. Stifel Nicolaus reiterated a “buy” rating and set a $327.00 price objective (up from $303.00) on shares of FedEx in a report on Wednesday, June 26th. Finally, Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $314.00.

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.