Insider Selling: FedEx Co. (NYSE:FDX) COO Sells 6,155 Shares of Stock

FedEx Co. (NYSE:FDX) COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This trade represents a 20.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

FedEx Price Performance

Shares of FDX stock opened at $241.75 on Friday. The business has a fifty day simple moving average of $256.59 and a 200 day simple moving average of $271.07. The company has a market cap of $58.22 billion, a P/E ratio of 15.41, a P/E/G ratio of 1.11 and a beta of 1.23. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx Co. has a twelve month low of $217.22 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $3.86 EPS. On average, sell-side analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.28%. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Fortitude Family Office LLC raised its position in FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares during the last quarter. Transce3nd LLC acquired a new position in shares of FedEx in the fourth quarter valued at approximately $26,000. Peoples Financial Services CORP. bought a new position in FedEx in the 4th quarter valued at approximately $28,000. City Holding Co. acquired a new stake in FedEx during the 4th quarter worth approximately $28,000. Finally, Kentucky Trust Co bought a new stake in FedEx during the 4th quarter worth approximately $28,000. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on FDX. Loop Capital downgraded shares of FedEx from a “hold” rating to a “sell” rating and dropped their target price for the stock from $283.00 to $221.00 in a report on Friday, March 21st. Barclays decreased their target price on FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research note on Friday, March 21st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their target price on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, FedEx has an average rating of “Moderate Buy” and an average price target of $302.71.

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.