FedEx Corp (NYSE:FDX) CEO Richard W. Smith has engaged in a series of stock transactions, according to a recent regulatory filing. Smith, who also serves as President and CEO of Air & International FedEx Express (FXE), reported both acquiring and disposing of shares in the company.
On April 4th, Smith acquired 1,875 shares of FedEx common stock at an individual price of $143.55, amounting to a total transaction value of $269,156. This purchase was part of an option exercise. On the same date, he sold 1,325 shares at a weighted average price of $278.24, with the sales conducted in multiple transactions ranging from $278.22 to $278.29. The total proceeds from the sale amounted to $368,662.
Following these transactions, Smith's direct holdings in FedEx common stock increased, while the derivative securities, specifically non-qualified stock options, were exercised and are no longer held by him. The options, which were set to expire on June 9, 2024, had vested ratably over four years and were first exercisable one year from the date of grant.
Investors and market watchers often monitor insider buying and selling as a signal of executive confidence and perspective on the company's future performance. The transactions by FedEx's CEO will likely be interpreted within the broader context of the company's operational performance and stock market activity.
FedEx has not publicly commented on these transactions, which are routinely disclosed as part of the company's compliance with securities regulations.
InvestingPro Insights
As FedEx Corp's CEO navigates the stock market with recent transactions, the company's financial health and market performance come into focus. Based on real-time data from InvestingPro, FedEx stands with a market capitalization of $67.77 billion, reflecting its significant presence in the logistics industry. The company's P/E ratio is currently at 15.64, suggesting that the stock may be trading at a reasonable price relative to its near-term earnings growth. Additionally, FedEx has demonstrated a strong return over the last month with a 13.43% price total return, reinforcing the positive momentum observed in the company's stock.
Among the InvestingPro Tips for FedEx, two particularly stand out in the context of the CEO's recent stock transactions. Firstly, FedEx has raised its dividend for 3 consecutive years, with a current dividend yield of 1.81%, indicating a commitment to shareholder returns. Secondly, despite 13 analysts having revised their earnings downwards for the upcoming period, the company remains a prominent player in the Air Freight & Logistics industry and is expected to be profitable this year.
Investors considering a deeper dive into FedEx's financials and market predictions can find additional insights on InvestingPro. With more tips available, such as the company's low price volatility and its 23-year track record of maintaining dividend payments, a comprehensive analysis is just a click away at https://www.investing.com/pro/FDX. To enhance your InvestingPro experience, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of data and analysis to inform your investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.