FedEx Corporation (NYSE:FDX - Get Free Report) Director Marvin R. Ellison sold 3,610 shares of the business's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total transaction of $855,353.40. Following the completion of the transaction, the director owned 7,720 shares in the company, valued at approximately $1,829,176.80. The trade was a 31.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
FedEx Stock Performance
Shares of NYSE:FDX traded down $2.68 during mid-day trading on Friday, reaching $236.05. The company had a trading volume of 1,667,283 shares, compared to its average volume of 1,861,613. FedEx Corporation has a one year low of $194.30 and a one year high of $313.84. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The company's 50-day moving average price is $225.31 and its 200-day moving average price is $239.93. The firm has a market cap of $56.56 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.23 and a beta of 1.35.
FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, topping the consensus estimate of $5.98 by $0.09. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The business had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.86 billion. During the same quarter last year, the company earned $5.41 EPS. As a group, equities research analysts anticipate that FedEx Corporation will post 19.14 EPS for the current fiscal year.
FedEx Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd were paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Monday, June 23rd. This is a boost from FedEx's previous quarterly dividend of $1.38. FedEx's payout ratio is currently 34.36%.
Analyst Ratings Changes
Several research firms recently issued reports on FDX. Wells Fargo & Company boosted their target price on shares of FedEx from $220.00 to $235.00 and gave the company an "equal weight" rating in a report on Wednesday, June 25th. Raymond James Financial reiterated an "outperform" rating and set a $260.00 price objective (down previously from $275.00) on shares of FedEx in a report on Wednesday, June 25th. Wall Street Zen lowered shares of FedEx from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Cowen reiterated a "buy" rating on shares of FedEx in a report on Wednesday, June 25th. Finally, Jefferies Financial Group upgraded shares of FedEx from a "hold" rating to a "buy" rating and dropped their price objective for the company from $300.00 to $275.00 in a report on Monday, March 24th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $283.25.
View Our Latest Stock Analysis on FDX
Hedge Funds Weigh In On FedEx
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Transce3nd LLC bought a new stake in shares of FedEx in the 4th quarter worth approximately $26,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of FedEx in the 4th quarter worth approximately $28,000. Runnymede Capital Advisors Inc. bought a new stake in shares of FedEx in the 4th quarter worth approximately $32,000. Accredited Wealth Management LLC bought a new stake in shares of FedEx in the 4th quarter worth approximately $35,000. Finally, Abound Financial LLC bought a new stake in shares of FedEx in the 1st quarter worth approximately $38,000. Hedge funds and other institutional investors own 84.47% of the company's stock.
FedEx Company Profile
(
Get Free Report)
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.
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