Insider Selling: FedEx Corporation (NYSE:FDX) Director Sells 3,610 Shares of Stock

FedEx Corporation (NYSE:FDX - Get Free Report) Director Paul S. Walsh sold 3,610 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total value of $860,226.90. Following the completion of the transaction, the director directly owned 15,513 shares of the company's stock, valued at $3,696,592.77. The trade was a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

FedEx Stock Performance

FedEx stock traded up $3.80 during mid-day trading on Tuesday, reaching $238.89. The company had a trading volume of 1,960,280 shares, compared to its average volume of 1,856,083. FedEx Corporation has a 52 week low of $194.30 and a 52 week high of $313.84. The firm has a market cap of $57.24 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 1.23 and a beta of 1.35. The company has a 50 day moving average of $223.31 and a 200-day moving average of $240.65. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68.

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

FedEx Increases Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Transce3nd LLC bought a new position in FedEx in the 4th quarter worth approximately $26,000. Pilgrim Partners Asia Pte Ltd bought a new position in FedEx in the 4th quarter worth approximately $28,000. Runnymede Capital Advisors Inc. bought a new position in FedEx in the 4th quarter worth approximately $32,000. Accredited Wealth Management LLC bought a new position in FedEx in the 4th quarter worth approximately $35,000. Finally, Abound Financial LLC bought a new position in FedEx in the 1st quarter worth approximately $38,000. Institutional investors own 84.47% of the company's stock.

Analysts Set New Price Targets

FDX has been the topic of a number of research analyst reports. Citigroup reduced their target price on FedEx from $267.00 to $259.00 and set a "buy" rating on the stock in a report on Wednesday, June 25th. Wells Fargo & Company lifted their target price on FedEx from $220.00 to $235.00 and gave the company an "equal weight" rating in a report on Wednesday, June 25th. Cfra Research raised FedEx to a "hold" rating in a research report on Thursday, March 20th. Stifel Nicolaus set a $315.00 price objective on FedEx in a report on Wednesday, June 25th. Finally, Cowen reissued a "buy" rating on shares of FedEx in a report on Wednesday, June 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $282.46.

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.

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