Trade Report: Today, Insider Selling: FedEx Corp. (FDX) EVP Sold $13,901,087.20 in Stock

Today, Insider Selling: FedEx Corp. (FDX) EVP Sold $13,901,087.20 in Stock

FedEx Corp. (NYSE:FDX) EVP Christine P. Richards sold 80,080 shares of FedEx Corp. stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $173.59, for a total transaction of $13,901,087.20. Following the transaction, the executive vice president now directly owns 98,620 shares of the company’s stock, valued at $17,119,445.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of FedEx Corp. (NYSE:FDX) opened at 170.98 on Monday. The company has a market capitalization of $45.44 billion, a price-to-earnings ratio of 25.57 and a beta of 1.28. FedEx Corp. has a 52-week low of $119.71 and a 52-week high of $177.36. The firm’s 50-day moving average is $168.72 and its 200 day moving average is $163.66.

FedEx Corp. (NYSE:FDX) last released its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.09. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The firm earned $14.70 billion during the quarter. During the same quarter in the previous year, the business posted $2.42 EPS. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities research analysts anticipate that FedEx Corp. will post $12.14 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, September 8th. This represents a $1.60 annualized dividend and a yield of 0.94%. FedEx Corp.’s payout ratio is 23.99%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FDX. Primecap Management Co. CA raised its position in 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 last quarter. Dodge & Cox raised its position in 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 last quarter. Wellington Management Group LLP raised its position in 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 last quarter. Canada Pension Plan Investment Board raised its position in 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 last quarter. Finally, Ameriprise Financial Inc. raised its position in 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 last quarter. Hedge funds and other institutional investors own 73.67% of the company’s stock.

FDX has been the subject of a number of research analyst reports. Robert W. Baird reaffirmed an “outperform” rating and issued a $185.00 target price on shares of FedEx Corp. in a research note on Friday, September 23rd. Vetr downgraded shares of FedEx Corp. from a “buy” rating to a “hold” rating and set a $179.94 target price for the company. in a research note on Tuesday, September 27th. Sanford C. Bernstein set a $159.00 target price on shares of FedEx Corp. and gave the stock a “neutral” rating in a research note on Wednesday, September 21st. Zacks Investment Research raised shares of FedEx Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. Finally, Oppenheimer Holdings Inc. boosted their target price on shares of FedEx Corp. from $180.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 21st. Ten 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 company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $176.59.

About FedEx Corp.

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