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 the stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $176.30, for a total value of $5,759,544.70. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available through this link.
Shares of FedEx Corp. (NYSE:FDX) opened at 174.68 on Friday. FedEx Corp. has a 12 month low of $119.71 and a 12 month high of $177.36. The company has a 50-day moving average price of $166.98 and a 200-day moving average price of $162.66. The firm has a market cap of $46.42 billion, a price-to-earnings ratio of 26.13 and a beta of 1.35.
FedEx Corp. (NYSE:FDX) last posted its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.81 by $0.09. The company earned $14.70 billion during the quarter. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. FedEx Corp.’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.42 EPS. Analysts forecast that FedEx Corp. will post $12.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 12th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.92%. The ex-dividend date is Thursday, September 8th. FedEx Corp.’s dividend payout ratio (DPR) is currently 23.99%.
Large investors have recently modified their holdings of the company. Primecap Management Co. CA raised its stake in shares of FedEx Corp. by 9.3% in the first quarter. Primecap Management Co. CA now owns 16,116,764 shares of the shipping service provider’s stock valued at $2,622,520,000 after buying an additional 1,371,175 shares during the period. Dodge & Cox raised its stake in shares of FedEx Corp. by 0.6% in the first quarter. Dodge & Cox now owns 12,389,882 shares of the shipping service provider’s stock valued at $2,016,082,000 after buying an additional 78,290 shares during the period. Wellington Management Group LLP raised its stake in shares of FedEx Corp. by 50.9% in the first quarter. Wellington Management Group LLP now owns 8,540,880 shares of the shipping service provider’s stock valued at $1,389,772,000 after buying an additional 2,881,893 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of FedEx Corp. by 0.3% in the second quarter. Canada Pension Plan Investment Board now owns 3,146,806 shares of the shipping service provider’s stock valued at $477,622,000 after buying an additional 9,900 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of FedEx Corp. by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 2,989,163 shares of the shipping service provider’s stock valued at $453,713,000 after buying an additional 9,606 shares during the period. 73.78% of the stock is owned by hedge funds and other institutional investors.
FDX has been the subject of several recent analyst reports. Robert W. Baird reiterated an “outperform” rating and set a $185.00 price objective on shares of FedEx Corp. in a research note on Friday, September 23rd. Sanford C. Bernstein set a $159.00 target price on FedEx Corp. and gave the company a “neutral” rating in a research note on Wednesday, September 21st. Oppenheimer Holdings Inc. restated a “buy” rating on shares of FedEx Corp. in a research note on Monday, June 6th. Credit Suisse Group AG restated a “buy” rating on shares of FedEx Corp. in a research note on Thursday, June 16th. Finally, Vetr upgraded FedEx Corp. from a “buy” rating to a “strong-buy” rating and set a $179.94 target price for the company in a research note on Monday, July 25th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $176.59.
About FedEx Corp.
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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