FedEx (NYSE:FDX) EVP Gina Adams Sells 3,014 Shares of Stock

Key Points

• FedEx EVP Gina Adams sold 3,014 shares at an average price of $317.06, for about $955,619. After the sale, she directly owned 9,656 shares, a 23.79% reduction in her holdings.
• FedEx reported quarterly earnings of $3.74 per share, beating the $3.34 consensus estimate, while revenue of $22.93 billion exceeded expectations and rose 12.3% year over year.
• Analysts have a consensus “Moderate Buy” rating on FedEx, with an average price target of $359.16.

FedEx Corporation (NYSE:FDX - Get Free Report) EVP Gina Adams sold 3,014 shares of the 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 completion of the transaction, the executive vice president directly owned 9,656 shares in the company, valued at $3,061,531.36. This trade represents a 23.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

FedEx Trading Down 0.1%

FedEx stock traded down $0.22 during midday 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's 50-day simple moving average is $304.17 and its 200 day simple moving average is $337.19. FedEx Corporation has a twelve month low of $200.20 and a twelve month 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 stock has a market capitalization of $74.48 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 1.23 and a beta of 1.28.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The shipping service provider reported $3.74 EPS for the quarter, topping the consensus estimate of $3.34 by $0.40. The company had revenue of $22.93 billion during the quarter, compared to analyst estimates of $22.73 billion. FedEx had a return on equity of 16.15% and a net margin of 4.09%. The firm's revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.83 earnings per share. Analysts expect that FedEx Corporation will post 18.28 EPS for the current year.

FedEx Announces Dividend

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

Hedge Funds Weigh In On FedEx

Several large investors have recently added to or reduced their stakes in FDX. BlackRock Inc. acquired a new position in FedEx during the 2nd quarter worth about $6,508,103,000. Primecap Management Co. CA bought a new stake in FedEx during the 2nd quarter worth about $2,554,138,000. Dimensional Fund Advisors LP increased its position in FedEx by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,630,669 shares of the shipping service provider's stock valued at $936,688,000 after acquiring an additional 52,963 shares in the last quarter. Bank of New York Mellon Corp increased its position in FedEx by 6.3% in the 1st quarter. Bank of New York Mellon Corp now owns 2,134,672 shares of the shipping service provider's stock valued at $760,328,000 after acquiring an additional 125,950 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in shares of FedEx in the second quarter worth about $579,171,000. 84.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FDX. Truist Financial dropped their price objective on shares of FedEx from $365.00 to $350.00 and set a "buy" rating on the stock in a research note on Wednesday, October 7th. Citizens Jmp initiated coverage on shares of FedEx in a research note on Wednesday, July 15th. They set a "market outperform" rating and a $375.00 price objective on the stock. Wall Street Zen raised shares of FedEx to a "hold" rating in a research report on Saturday, August 8th. UBS Group restated a "hold" rating on shares of FedEx in a research note on Friday. Finally, Raymond James Financial set a $162.00 price target on FedEx in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $359.16.

FedEx Company Profile

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.

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