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FedEx Corp. Buyback

OLI recorded this information on 12/26/2023

Company: FedEx Corp.
Buyback: FDX buyback
$Amount Authorized: $1,000,000,000
Buyback Details: As part of its commitment to enhance capital returns to stockholders, FedEx Corp. (NYSE:FDX) today announced that it has entered into an accelerated share repurchase ("ASR") agreement with Mizuho Markets Americas LLC ("Mizuho") to repurchase $1.0 billion of FedEx's common stock as part of the company's previously announced share repurchase program. Under the terms of the ASR agreement, FedEx will pay $1.0 billion to Mizuho and receive an initial share delivery of approximately 3.2 million shares on December 28, 2023, with the remainder of the shares, if any, to be delivered no later than February 29, 2024. The total number of shares purchased by FedEx pursuant to the ASR agreement will be based on an average of the volume-weighted average prices of FedEx's common stock during the term of the ASR agreement, less a discount.

FedEx is a holding company. Through its subsidiaries, Co. provides a portfolio of transportation, e-commerce, and business services through operating companies operating digitally as one FedEx. Co.'s Federal Express Corporation subsidiary is an express transportation company, providing delivery to various countries and territories. Co.'s FedEx Ground Package System, Inc. subsidiary (FedEx Ground) is a North American provider of small-package ground delivery services. FedEx Ground provides day-certain service to any business address in the U.S. and Canada, as well as residential delivery to U.S. residences through its FedEx Home Delivery service.

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Company Name: 
FedEx Corp
Stock buyback: 
FDX buyback
Website: 
www.fedex.com
Sector: 
Airlines
Number of ETFs Holding FDX: 
102
Total Market Value Held by ETFs: 
$7.44B
Total Market Capitalization: 
$71.11B
% of Market Cap. Held by ETFs: 
10.47%
 

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Buy (3.15 out of 4)
37th percentile
(ranked lower than approx. 63% of all stocks covered)

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