BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $25.96 Million Stock Position in FedEx Corporation $FDX

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its stake in FedEx Corporation by 44.7%, owning 106,493 shares valued at approximately $25.96 million.
• FedEx reported earnings of $6.07 per share, surpassing analysts’ estimates of $5.98, and generated a revenue of $22.20 billion in its latest quarterly results.
• The company declared a quarterly dividend of $1.45 per share, which translates to an annualized yield of 2.6%.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its position in FedEx Corporation (NYSE:FDX - Free Report) by 44.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,493 shares of the shipping service provider's stock after selling 86,194 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in FedEx were worth $25,960,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FDX. Brighton Jones LLC raised its position in FedEx by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock worth $514,000 after purchasing an additional 207 shares in the last quarter. Townsquare Capital LLC raised its holdings in shares of FedEx by 26.5% in the 4th quarter. Townsquare Capital LLC now owns 2,231 shares of the shipping service provider's stock worth $628,000 after buying an additional 467 shares in the last quarter. Gabelli Funds LLC lifted its position in shares of FedEx by 25.0% during the 4th quarter. Gabelli Funds LLC now owns 1,000 shares of the shipping service provider's stock worth $281,000 after buying an additional 200 shares during the period. Gamco Investors INC. ET AL lifted its position in shares of FedEx by 103.0% during the 4th quarter. Gamco Investors INC. ET AL now owns 1,711 shares of the shipping service provider's stock worth $481,000 after buying an additional 868 shares during the period. Finally, Curi RMB Capital LLC boosted its stake in FedEx by 1.3% in the 4th quarter. Curi RMB Capital LLC now owns 3,615 shares of the shipping service provider's stock valued at $1,017,000 after buying an additional 47 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Stock Performance

Shares of FDX stock opened at $227.32 on Monday. The company's 50 day moving average price is $229.41 and its two-hundred day moving average price is $231.53. FedEx Corporation has a 52 week low of $194.29 and a 52 week high of $308.53. The company has a market capitalization of $53.62 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 1.18 and a beta of 1.30. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.19.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, beating analysts' consensus estimates of $5.98 by $0.09. The firm had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.86 billion. FedEx had a return on equity of 16.34% and a net margin of 4.65%. During the same period last year, the company earned $5.41 earnings per share. On average, analysts expect that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 8th will be given a dividend of $1.45 per share. The ex-dividend date is Monday, September 8th. This represents a $5.80 annualized dividend and a yield of 2.6%. FedEx's dividend payout ratio (DPR) is 34.36%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FDX shares. Cowen restated a "buy" rating on shares of FedEx in a research note on Wednesday, June 25th. BNP Paribas Exane raised shares of FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 price objective for the company in a report on Thursday, July 3rd. BMO Capital Markets reduced their target price on FedEx from $275.00 to $260.00 and set a "market perform" rating on the stock in a report on Monday, May 19th. Sanford C. Bernstein decreased their price target on FedEx from $282.00 to $249.00 and set a "market perform" rating on the stock in a research report on Friday, June 13th. Finally, Raymond James Financial restated an "outperform" rating and set a $260.00 target price (down previously from $275.00) on shares of FedEx in a report on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $283.25.

Insiders Place Their Bets

In other news, Director Paul S. Walsh sold 3,610 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total value of $860,226.90. Following the completion of the sale, the director owned 15,513 shares of the company's stock, valued at approximately $3,696,592.77. The trade was a 18.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director R Brad Martin sold 2,123 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $241.75, for a total transaction of $513,235.25. Following the completion of the transaction, the director owned 8,935 shares in the company, valued at $2,160,036.25. This trade represents a 19.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,343 shares of company stock worth $2,228,816 over the last three months. Insiders own 8.87% of the company's stock.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.

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