David J. Bronczek Sells 32,669 Shares of FedEx Corp. (FDX) Stock
FedEx Corp. (NYSE:FDX) CEO David J. Bronczek sold 32,669 shares of FedEx Corp. stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $176.30, for a total transaction of $5,759,544.70. Following the completion of the sale, the chief executive officer now owns 85,356 shares of the company’s stock, valued at $15,048,262.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
FedEx Corp. (NYSE:FDX) opened at 174.68 on Friday. The firm has a market cap of $46.42 billion, a price-to-earnings ratio of 26.13 and a beta of 1.35. The stock’s 50 day moving average is $166.98 and its 200 day moving average is $162.66. FedEx Corp. has a one year low of $119.71 and a one year high of $177.36.
FedEx Corp. (NYSE:FDX) last posted its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.81 by $0.09. The business earned $14.70 billion during the quarter. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.42 earnings per share. On average, analysts predict that FedEx Corp. will post $12.14 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. FedEx Corp.’s dividend payout ratio is 23.99%.
Several institutional investors have recently modified their holdings of FDX. Cottage Street Advisors LLC raised its position in shares of FedEx Corp. by 4.0% in the first quarter. Cottage Street Advisors LLC now owns 9,050 shares of the shipping service provider’s stock worth $1,475,000 after buying an additional 350 shares in the last quarter. Ngam Advisors L.P. raised its position in shares of FedEx Corp. by 77.1% in the first quarter. Ngam Advisors L.P. now owns 104,472 shares of the shipping service provider’s stock worth $17,000,000 after buying an additional 45,491 shares in the last quarter. Morris Capital Advisors LLC bought a new position in shares of FedEx Corp. during the first quarter worth $453,000. Check Capital Management Inc. CA raised its position in shares of FedEx Corp. by 26.8% in the first quarter. Check Capital Management Inc. CA now owns 299,431 shares of the shipping service provider’s stock worth $48,723,000 after buying an additional 63,255 shares in the last quarter. Finally, CIBC World Markets Inc. raised its position in shares of FedEx Corp. by 19.6% in the first quarter. CIBC World Markets Inc. now owns 26,733 shares of the shipping service provider’s stock worth $4,350,000 after buying an additional 4,381 shares in the last quarter. Hedge funds and other institutional investors own 73.78% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. Vetr downgraded shares of FedEx Corp. from a “buy” rating to a “hold” rating and set a $179.94 price target for the company. in a research report on Tuesday. Zacks Investment Research upgraded shares of FedEx Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, September 22nd. Citigroup Inc. reiterated a “buy” rating on shares of FedEx Corp. in a research report on Thursday, September 22nd. Robert W. Baird reiterated an “outperform” rating and issued a $185.00 price target on shares of FedEx Corp. in a research report on Friday, September 23rd. Finally, Stifel Nicolaus restated a “buy” rating and set a $179.00 price objective (up from $178.00) on shares of FedEx Corp. in a research report on Wednesday, June 22nd. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. FedEx Corp. presently has an average rating of “Buy” and an average target price of $176.59.
FedEx Corp. Company Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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