FedEx Corp (NYSE:FDX) director Martin R Brad has sold a portion of his holdings in the company, according to the latest SEC filings. On March 28, Brad sold 1,412 shares of FedEx common stock for an average price of approximately $288.30, netting a total of over $407,000. This sale was part of multiple transactions with prices ranging from $288.30 to $288.31.
In addition to the sale, the filing revealed that Brad also acquired 2,535 shares of FedEx common stock at a price of $160.53 per share, amounting to a total transaction value of approximately $407,000. These shares were obtained through the exercise of options that were first exercisable one year from the date of grant.
Following these transactions, Brad's direct holdings in FedEx common stock have changed, with the latest reports indicating ownership of 6,409 shares directly after the sale. The filing also detailed indirect holdings through various trusts and family foundations, reflecting a diverse structure of investment in FedEx.
Investors often keep a close eye on insider transactions as they can provide insights into the company's performance and executive confidence. Shares of FedEx closed at $XXX.XX on the day of the report.
For further details regarding the number of shares sold at each separate price within the range stated, Brad has agreed to provide full information upon request to FedEx Corporation (NYSE:FDX), any security holder of FedEx Corporation, or the staff of the Securities and Exchange Commission.
FedEx continues to be a significant player in the air courier services industry, and insider transactions such as these are closely monitored by market participants for potential implications on the stock's performance.
InvestingPro Insights
As FedEx Corp (NYSE:FDX) experiences insider trading activity, investors are evaluating the company's current market position and future potential. Here are some key metrics and insights from InvestingPro that could help investors in their assessment:
FedEx's market capitalization stands at a robust $71.29 billion, reflecting the company's significant presence in the logistics sector. Its P/E ratio is currently at 16.47, suggesting a valuation that may be attractive to investors looking for reasonable pricing relative to earnings. Moreover, with a P/E ratio (adjusted) for the last twelve months as of Q3 2024 at 14.61, the company appears to be trading at a discount relative to its near-term earnings growth.
Recent performance metrics indicate a strong return over the last month, with a 1-month price total return of 18.4%. Additionally, the company's stock is trading near its 52-week high, at 98.84% of the peak price. This could signal investor confidence and market momentum, as reflected in the stock's recent appreciation.
InvestingPro Tips highlight that FedEx has demonstrated a commitment to shareholder returns, having raised its dividend for three consecutive years and maintained dividend payments for 23 consecutive years. This consistency in dividend payments may be particularly appealing to income-focused investors.
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