In a recent transaction, FedEx Corp (NYSE:FDX) director Susan C. Schwab has sold a significant number of company shares, according to the latest SEC filings. The transactions, which occurred on March 27, 2024, involved the sale of 6,145 shares of common stock at a weighted average price of approximately $288.02, totaling around $1,769,904.
On the same day, Schwab also engaged in acquiring shares through the exercise of stock options. These transactions saw her gain 2,535 shares at a price of $160.53 per share and 3,610 shares at $142.11 per share, amounting to a total of approximately $919,960. The price range for these acquisitions was between $142.11 and $160.53.
The sales and acquisitions by Schwab have been duly reported in the non-derivative section of the SEC Form 4 filing. It is worth noting that the prices mentioned for the sales represent a weighted average, as the shares were sold in multiple transactions with prices ranging from $288.0004 to $288.41. Schwab has committed to providing detailed information regarding the number of shares sold at each separate price within the range upon request.
Investors and followers of FedEx Corp closely monitor such transactions by insiders as they can provide insights into the executives' perspectives on the company's current valuation and future prospects.
InvestingPro Insights
As investors digest the recent insider transactions at FedEx Corp (NYSE:FDX), it's beneficial to consider additional data points to get a fuller picture of the company's financial health and market positioning. According to the latest data from InvestingPro, FedEx boasts a robust market capitalization of $71.11 billion, reflecting its significant presence in the logistics industry. Notably, the company's P/E ratio stands at a competitive 16.27, suggesting that its stock might be trading at a reasonable valuation in relation to its earnings.
Furthermore, FedEx has demonstrated a strong performance in the stock market, with an impressive one-week total return of 11.15%. This momentum could be indicative of positive investor sentiment and a bullish outlook for the stock. Adding to the positive narrative, FedEx has consistently maintained its dividend payments, marking 23 consecutive years of dividend distribution to its shareholders. This consistency underscores the company's commitment to returning value to its investors and its financial stability to sustain such payments over time.
For those considering a deeper dive into FedEx's financials and stock performance, there are additional InvestingPro Tips available. These tips include insights such as analysts' earnings revisions, the stock's trading patterns, and its performance relative to industry peers. Specifically, there are 13 more tips listed on InvestingPro for FedEx, which could provide valuable guidance for potential investors. To explore these insights, you can visit https://www.investing.com/pro/FDX and remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, further enhancing your investment research toolkit.
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