John W. Dietrich Acquires 1,000 Shares of FedEx Co. (NYSE:FDX) Stock

FedEx Co. (NYSE:FDX) EVP John W. Dietrich purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was purchased 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 owns 9,067 shares in the company, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

FedEx Stock Down 0.1 %

Shares of FDX traded down $0.38 during midday trading on Wednesday, hitting $274.62. The company had a trading volume of 1,964,229 shares, compared to its average volume of 1,518,845. The company’s 50-day simple moving average is $283.85 and its 200-day simple moving average is $284.47. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The firm has a market capitalization 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.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping the consensus estimate 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 quarter in the previous year, the business posted $3.99 EPS. The firm’s revenue was down .7% on a year-over-year basis. As a group, sell-side analysts expect that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Monday, December 9th. FedEx’s dividend payout ratio is presently 34.05%.

Institutional Trading of FedEx

Institutional investors have recently bought and sold shares of the business. Evermay Wealth Management LLC grew its position in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in FedEx in the third quarter valued at $31,000. Abound Wealth Management grew its holdings in shares of FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of FedEx during the third quarter worth about $47,000. Finally, Sachetta LLC increased its position in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FDX. Bank of America increased their price objective on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. BMO Capital Markets increased their price target on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Loop Capital upgraded shares of FedEx from a “hold” rating to a “buy” rating and boosted their price objective for the company from $288.00 to $365.00 in a report on Friday, December 20th. Stifel Nicolaus increased their target price on shares of FedEx from $321.00 to $368.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $324.96.

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.