Sriram Krishnasamy Sells 354 Shares of FedEx Co. (NYSE:FDX) Stock

FedEx Co. (NYSE:FDX) CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the completion of the transaction, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

FedEx Stock Up 0.6 %

NYSE:FDX traded up $1.82 during midday trading on Thursday, reaching $289.70. 1,650,726 shares of the stock traded hands, compared to its average volume of 2,179,895. The business has a 50-day moving average of $249.64 and a two-hundred day moving average of $252.32. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. FedEx Co. has a 12-month low of $213.80 and a 12-month high of $291.27. The stock has a market capitalization of $71.29 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.37 and a beta of 1.20.

FedEx (NYSE:FDX) last released its earnings results 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 company had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. FedEx’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period last year, the business earned $3.41 EPS. On average, equities analysts forecast that FedEx Co. will post 17.6 earnings per share for the current fiscal year.

FedEx announced that its board has authorized a share buyback program on Thursday, March 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 11th will be paid a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a yield of 1.74%. The ex-dividend date is Friday, March 8th. FedEx’s payout ratio is 29.07%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Camarda Financial Advisors LLC increased its stake in shares of FedEx by 0.6% during the second quarter. Camarda Financial Advisors LLC now owns 6,419 shares of the shipping service provider’s stock worth $1,591,000 after acquiring an additional 40 shares during the period. M&R Capital Management Inc. lifted its holdings in shares of FedEx by 0.3% in the 3rd quarter. M&R Capital Management Inc. now owns 16,192 shares of the shipping service provider’s stock valued at $4,289,000 after buying an additional 41 shares during the period. KRS Capital Management LLC boosted its stake in shares of FedEx by 4.1% in the fourth quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock valued at $263,000 after buying an additional 41 shares in the last quarter. Zullo Investment Group Inc. grew its holdings 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 worth $1,447,000 after acquiring an additional 42 shares during the period. Finally, Toth Financial Advisory Corp raised its position in FedEx by 18.0% in the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock worth $73,000 after acquiring an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on FDX shares. JPMorgan Chase & Co. lowered their price target on FedEx from $322.00 to $305.00 and set a “neutral” rating for the company in a research report on Wednesday, December 20th. Melius raised FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Bank of America boosted their price target on FedEx from $313.00 to $346.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. The Goldman Sachs Group raised their price objective on shares of FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, BNP Paribas restated an “underperform” rating and set a $250.00 target price on shares of FedEx in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $301.07.

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.