Insider Selling: FedEx (NYSE:FDX) EVP Sells 3,014 Shares of Company Stock

FedEx Corporation (NYSE:FDX) EVP Gina Adams sold 3,014 shares of the company’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $317.06, for a total value of $955,618.84. Following the transaction, the executive vice president directly owned 9,656 shares in the company, valued at approximately $3,061,531.36. This represents a 23.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

FedEx Trading Down 0.1%

FDX traded down $0.22 during mid-day trading on Tuesday, reaching $318.03. The stock had a trading volume of 2,009,565 shares, compared to its average volume of 1,991,035. The stock has a market capitalization of $74.48 billion, a P/E ratio of 19.56, a P/E/G ratio of 1.23 and a beta of 1.28. FedEx Corporation has a 52 week low of $200.20 and a 52 week high of $345.36. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The firm’s fifty day simple moving average is $304.17 and its two-hundred day simple moving average is $337.19.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Wednesday, October 28th. The shipping service provider reported $3.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.34 by $0.40. The business had revenue of $22.93 billion for the quarter, compared to analysts’ expectations of $22.73 billion. FedEx had a return on equity of 16.15% and a net margin of 4.09%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business earned $3.83 earnings per share. On average, equities analysts predict that FedEx Corporation will post 18.28 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 14th were given a dividend of $1.22 per share. The ex-dividend date was Monday, September 14th. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx’s payout ratio is currently 30.01%.

Hedge Funds Weigh In On FedEx

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ethic Inc. grew its stake in FedEx by 4.8% in the third quarter. Ethic Inc. now owns 21,001 shares of the shipping service provider’s stock valued at $5,987,000 after acquiring an additional 957 shares during the period. StoneX Group Inc. raised its position in shares of FedEx by 46.9% during the third quarter. StoneX Group Inc. now owns 2,305 shares of the shipping service provider’s stock worth $686,000 after purchasing an additional 736 shares during the period. Pictet Asset Management Holding SA raised its position in shares of FedEx by 49.1% during the third quarter. Pictet Asset Management Holding SA now owns 136,570 shares of the shipping service provider’s stock worth $38,997,000 after purchasing an additional 44,976 shares during the period. AlphaCentric Advisors LLC bought a new position in shares of FedEx during the 3rd quarter valued at about $129,000. Finally, Alps Advisors Inc. raised its holdings in FedEx by 4.9% during the 3rd quarter. Alps Advisors Inc. now owns 2,546 shares of the shipping service provider’s stock worth $726,000 after buying an additional 120 shares during the period. 84.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on FDX. Raymond James Financial set a $162.00 price objective on shares of FedEx in a report on Tuesday. Stephens raised FedEx to a “strong-buy” rating in a research note on Wednesday, July 8th. Sanford C. Bernstein set a $377.00 price target on FedEx in a research report on Monday, October 26th. BNP Paribas Exane lifted their price objective on FedEx from $269.80 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 30th. Finally, Evercore upped their price objective on FedEx from $350.00 to $351.00 in a report on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $359.16.

About FedEx

FedEx Corporation (NYSE: FDX) is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, customs brokerage, logistics and supply chain services for businesses, governments and consumers.

The company’s services include domestic and international package delivery, less-than-truckload freight transportation, warehousing, fulfillment, supply chain management and specialized logistics solutions.