FedEx Co. (NYSE:FDX) CEO Frederick W. Smith Sells 131,755 Shares of Stock

Posted by Defense World Staff on Apr 13th, 2023

FedEx Co. (NYSE:FDX – Get Rating) CEO Frederick W. Smith sold 131,755 shares of the stock in a transaction that occurred on Tuesday, April 11th. The stock was sold at an average price of $232.21, for a total value of $30,594,828.55. Following the completion of the sale, the chief executive officer now owns 14,459,759 shares in the company, valued at $3,357,700,637.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

FedEx Stock Performance

NYSE FDX opened at $229.47 on Thursday. The stock has a 50-day simple moving average of $213.76 and a two-hundred day simple moving average of $185.75. The firm has a market capitalization of $57.68 billion, a P/E ratio of 19.82, a PEG ratio of 1.29 and a beta of 1.33. FedEx Co. has a fifty-two week low of $141.92 and a fifty-two week high of $248.76. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.27 and a current ratio of 1.32.

FedEx (NYSE:FDX – Get Rating) last released its quarterly earnings data on Thursday, March 16th. The shipping service provider reported $3.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.74. The business had revenue of $22.17 billion during the quarter, compared to analyst estimates of $22.74 billion. FedEx had a return on equity of 17.71% and a net margin of 3.23%. The company’s revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the business posted $4.59 EPS. On average, equities analysts forecast that FedEx Co. will post 14.95 earnings per share for the current year.

FedEx Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Monday, June 12th will be issued a $1.26 dividend. This represents a $5.04 annualized dividend and a yield of 2.20%. This is a boost from FedEx’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, June 9th. FedEx’s payout ratio is presently 39.72%.

Wall Street Analysts Forecast Growth

FDX has been the topic of several research analyst reports. Melius initiated coverage on FedEx in a research note on Monday, March 27th. They issued a “hold” rating and a $240.00 price objective on the stock. Bank of America increased their price objective on FedEx from $233.00 to $305.00 in a research note on Friday, March 17th. Stephens reissued an “overweight” rating and issued a $290.00 price objective on shares of FedEx in a research note on Thursday, April 6th. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research report on Friday, March 24th. Finally, Robert W. Baird increased their target price on FedEx from $250.00 to $275.00 in a research report on Thursday, April 6th. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $241.41.

Institutional Investors Weigh In On FedEx

Institutional investors have recently bought and sold shares of the company. Lakewood Asset Management LLC acquired a new position in shares of FedEx during the 4th quarter worth approximately $26,000. CenterStar Asset Management LLC acquired a new position in shares of FedEx during the 4th quarter worth approximately $29,000. Coston McIsaac & Partners acquired a new position in shares of FedEx during the 2nd quarter worth approximately $30,000. My Personal CFO LLC acquired a new position in shares of FedEx during the 4th quarter worth approximately $31,000. Finally, Cowa LLC acquired a new position in shares of FedEx during the 3rd quarter worth approximately $33,000. 72.02% of the stock is currently owned by institutional investors and hedge funds.

FedEx Company Profile

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FedEx Corp. provides a broad portfolio of transportation, e-commerce and business services under the FedEx brand. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.