Additionally, Smith exercised non-qualified stock options to acquire 3,220 shares at a price of $180.82 per share on the same day. Following these transactions, Smith's direct ownership of FedEx (NYSE:FDX) shares stands at 91,626 shares. The SEC filing also noted several other transactions involving the transfer of shares to family trusts and his wife, but these were not sales and did not involve any cash exchange. Notable for investors, FedEx has maintained dividend payments for 23 consecutive years, with a current yield of 2.01%. InvestingPro subscribers can access 8 additional key insights about FedEx's financial health and market position. Notable for investors, FedEx has maintained dividend payments for 23 consecutive years, with a current yield of 2.01%. InvestingPro subscribers can access 8 additional key insights about FedEx's financial health and market position.
Additionally, Smith exercised non-qualified stock options to acquire 3,220 shares at a price of $180.82 per share on the same day. Following these transactions, Smith's direct ownership of FedEx shares stands at 91,626 shares. The SEC filing also noted several other transactions involving the transfer of shares to family trusts and his wife, but these were not sales and did not involve any cash exchange.
In other recent news, FedEx has announced a series of strategic moves, including a spin-off of its Less-Than-Truckload (LTL) division, which various firms, including Stifel, view as a potential value unlock. Despite not meeting all earnings estimates, FedEx maintains solid fundamentals with an EBITDA of $10.9 billion over the last twelve months. The company also revised its annual EPS guidance downward, prompting ten analysts to adjust their earnings estimates for the upcoming period.
Meanwhile, UPS has seen its price target raised by Bernstein SocGen Group from $172.00 to $179.00, maintaining an Outperform rating. This adjustment comes after a period of underperformance in the Parcel & Airfreight sectors. Analyst David Vernon highlighted UPS's strong position and expected margin improvement due to less pressure from labor contracts and product mix.
Both FedEx and UPS have been the focus of various analyst adjustments. For FedEx, firms including TD Cowen, BMO Capital, and Loop Capital have raised their targets, factoring in the company's strategic decisions and cost management efforts. On the other hand, UPS's revised price target by Bernstein SocGen Group reflects confidence in the company's ability to achieve a margin greater than 12% within the next year. These are recent developments in the companies' strategic actions and financial performance.
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