FedEx (NYSE:FDX) Stock: Insider Claude Russ Sells 16,762 Shares

Key Points

• FedEx CFO Claude Russ sold 16,762 shares for about $5.30 million at an average price of $316.11, reducing his stake by 79.26% to 4,387 shares.
• FedEx beat quarterly estimates, reporting EPS of $3.74 versus $3.34 expected and revenue of $22.93 billion; revenue rose 12.3% year over year.
• Analysts’ consensus rating was “Moderate Buy”, with an average price target of $359.16. Shares traded at $319.56 in Tuesday midday trading.

FedEx Corporation (NYSE:FDX - Get Free Report) CFO Claude Russ sold 16,762 shares of the stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $316.11, for a total value of $5,298,635.82. Following the completion of the sale, the chief financial officer owned 4,387 shares in the company, valued at $1,386,774.57. This trade represents a 79.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

FedEx Price Performance

FedEx stock traded up $0.72 during midday trading on Tuesday, hitting $319.56. 1,163,309 shares of the company's stock were exchanged, compared to its average volume of 1,985,332. FedEx Corporation has a 52-week low of $203.20 and a 52-week high of $345.36. The stock has a 50-day moving average price of $302.64 and a two-hundred day moving average price of $337.42. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.29 and a current ratio of 1.33. The company has a market cap of $74.84 billion, a P/E ratio of 19.65, a PEG ratio of 1.33 and a beta of 1.27.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Wednesday, October 28th. The shipping service provider reported $3.74 earnings per share for the quarter, topping analysts' consensus estimates of $3.34 by $0.40. The business had revenue of $22.93 billion for the quarter, compared to analyst estimates of $22.73 billion. FedEx had a return on equity of 15.53% and a net margin of 4.09%. The company's quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.83 EPS. On average, equities research analysts forecast that FedEx Corporation will post 18.29 earnings per share for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 14th were issued a $1.22 dividend. The ex-dividend date of this dividend was Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. FedEx's dividend payout ratio is presently 30.01%.

Institutional Trading of FedEx

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of FedEx in the second quarter worth $6,508,103,000. Primecap Management Co. CA bought a new stake in FedEx in the 2nd quarter worth $2,554,138,000. Dimensional Fund Advisors LP grew its holdings 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 worth $936,688,000 after acquiring an additional 52,963 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of FedEx by 6.3% in the first 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 during the period. Finally, Bank of America Corp DE purchased a new position in shares of FedEx in the second quarter valued at about $579,171,000. Institutional investors own 84.47% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citizens Jmp assumed coverage on shares of FedEx in a report on Wednesday, July 15th. They set a "market outperform" rating and a $375.00 price objective for the company. Weiss Ratings cut FedEx from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, October 29th. JPMorgan Chase & Co. raised their price target on FedEx from $399.00 to $400.00 and gave the company an "overweight" rating in a research report on Thursday, October 29th. Citigroup increased their price objective on FedEx from $373.00 to $374.00 and gave the company a "buy" rating in a research report on Monday, November 2nd. Finally, Sanford C. Bernstein set a $377.00 price objective on shares of FedEx in a report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, FedEx presently has an average rating of "Moderate Buy" and an average price target of $359.16.

About FedEx

FedEx Corporation is a global transportation and logistics company that provides delivery, freight, and supply chain services to businesses and consumers. Its offerings include express and ground package delivery, freight transportation, customs clearance, and logistics solutions that help customers manage shipping and distribution. Founded by Frederick W. Smith in 1971, FedEx began operations in 1973. The company serves customers throughout the United States and in international markets, connecting businesses and consumers through its transportation and delivery networks.

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