FedEx Stock Is Flagging. The Chief Financial Officer Bought Stock.
FedEx stock is coming off a year of lukewarm gains, and one executive just scooped up shares on the open market.
Shares of logistics firm FedEx managed to gain 11% in 2024, less than half the 23% rise in the S&P 500 index. Quarterly earnings reports were alternately upbeat and disappointing that year. The latest one, in mid-December, was a pleasant surprise to investors, as FedEx announced it would separate into two publicly traded companies “within the next 18 months.”
Chief Financial Officer John Dietrich paid $274,000 on Jan. 7 for 1,000 FedEx shares, an average price of $273.98 each. He now owns 9,067 shares in a personal account, according to a form that Dietrich filed with the Securities and Exchange Commission.
FedEx didn’t respond to a request to make Dietrich available for comment. He last purchased FedEx stock on the open market in December 2023, when he paid $252,000 for 1,000 shares, an average price of $252.02 each.
Dietrich is a former CEO of Atlas Air Worldwide, which was taken private in March 2023. In July of that year, FedEx named him as financial chief.
Inside Scoop is a regular Barron’s feature covering stock transactions by corporate executives and board members—so-called insiders—as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.