Insider Buying: FedEx Co. (NYSE:FDX) EVP Acquires 1,000 Shares of Stock

FedEx Co. (NYSE:FDX) EVP John W. Dietrich acquired 1,000 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The stock was acquired at an average cost of $273.98 per share, with a total value of $273,980.00. Following the purchase, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

FedEx Price Performance

Shares of FDX stock traded down $0.38 during trading hours on Wednesday, hitting $274.62. 1,964,229 shares of the company’s stock were exchanged, compared to its average volume of 1,518,845. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The firm has a market cap of $67.10 billion, a P/E ratio of 16.94, a P/E/G ratio of 1.18 and a beta of 1.18. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The firm has a 50 day moving average of $283.85 and a two-hundred day moving average of $284.47.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same period in the prior year, the business posted $3.99 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Sell-side analysts forecast that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a dividend of $1.38 per share. The ex-dividend date was Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 2.01%. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

Hedge Funds Weigh In On FedEx

A number of hedge funds have recently made changes to their positions in FDX. International Assets Investment Management LLC lifted its stake in FedEx by 473.8% in the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after purchasing an additional 647,926 shares in the last quarter. Ameriprise Financial Inc. lifted its position in FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after buying an additional 578,350 shares in the last quarter. Franklin Resources Inc. boosted its stake in FedEx by 8.6% during the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after buying an additional 314,380 shares during the last quarter. World Investment Advisors LLC grew its holdings in FedEx by 2,163.7% in the 3rd quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock valued at $52,667,000 after buying an additional 183,940 shares in the last quarter. Finally, Ceredex Value Advisors LLC increased its stake in shares of FedEx by 77.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock worth $101,022,000 after acquiring an additional 161,022 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Bernstein Bank boosted their price target on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Susquehanna decreased their price target on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research report on Friday, September 20th. HSBC downgraded shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a research report on Friday, September 20th. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Finally, Raymond James lifted their price target on shares of FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $324.96.

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.