Insider Selling: FedEx Corporation (NYSE:FDX) Director Sells 2,123 Shares of Stock

FedEx Corporation (NYSE:FDX - Get Free Report) Director R Brad Martin sold 2,123 shares of FedEx stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $241.75, for a total transaction of $513,235.25. Following the sale, the director owned 8,935 shares of the company's stock, valued at approximately $2,160,036.25. This represents a 19.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

FedEx Stock Performance

FDX stock traded up $3.80 during mid-day trading on Tuesday, hitting $238.89. 1,960,280 shares of the company were exchanged, compared to its average volume of 1,856,083. The business has a 50 day simple moving average of $223.31 and a 200-day simple moving average of $240.65. The stock has a market capitalization of $57.24 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 1.26 and a beta of 1.35. FedEx Corporation has a 1-year low of $194.30 and a 1-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.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.98 by $0.09. The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. During the same quarter in the prior year, the business posted $5.41 EPS. On average, equities analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be issued a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Monday, June 23rd. This is an increase from FedEx's previous quarterly dividend of $1.38. FedEx's dividend payout ratio (DPR) is currently 34.36%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FDX shares. Truist Financial restated a "buy" rating and set a $275.00 price objective on shares of FedEx in a report on Wednesday, June 25th. Cfra Research upgraded shares of FedEx to a "hold" rating in a report on Thursday, March 20th. Wells Fargo & Company upped their price target 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. Cowen restated a "buy" rating on shares of FedEx in a report on Wednesday, June 25th. Finally, BMO Capital Markets reduced their target price on shares of FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a research note on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, FedEx has an average rating of "Moderate Buy" and an average price target of $282.46.

Institutional Trading of FedEx

Several institutional investors and hedge funds have recently modified their holdings of FDX. Transce3nd LLC acquired a new position in shares of FedEx in the fourth quarter valued at approximately $26,000. Pilgrim Partners Asia Pte Ltd acquired a new position in FedEx in the 4th quarter valued at approximately $28,000. Runnymede Capital Advisors Inc. bought a new position in shares of FedEx during the fourth quarter valued at $32,000. Accredited Wealth Management LLC bought a new stake in shares of FedEx in the fourth quarter worth $35,000. Finally, Abound Financial LLC acquired a new stake in FedEx in the first quarter valued at $38,000. 84.47% of the stock is currently owned by institutional investors.

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.