FedEx Corporation $FDX Shares Bought by Amundi

Key Points

• Amundi increased its FedEx stake by 181.9% during the first quarter, purchasing 655,504 additional shares and ending with 1.02 million shares valued at approximately $361.8 million. Institutional investors and hedge funds collectively own 84.47% of FedEx.
• Analyst sentiment remains a “Moderate Buy”, with an average price target of $350.54, although several firms recently reduced their targets and Deutsche Bank downgraded the stock to “hold.”
• FedEx shares opened at $308.96, down 1.2%, while the company recently reported quarterly revenue of $23.26 billion and earnings of $5.88 per share; its quarterly dividend equates to an annualized $4.88 payout and a 1.6% yield.

Amundi lifted its stake in shares of FedEx Corporation (NYSE:FDX - Free Report) by 181.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,015,844 shares of the shipping service provider's stock after buying an additional 655,504 shares during the quarter. Amundi owned about 0.43% of FedEx worth $361,823,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Hollencrest Capital Management purchased a new position in FedEx during the 1st quarter worth approximately $25,000. Bayban acquired a new position in shares of FedEx in the 1st quarter valued at $26,000. Cedar Mountain Advisors LLC increased its holdings in shares of FedEx by 77.4% in the 1st quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider's stock valued at $33,000 after acquiring an additional 41 shares during the period. EFG International AG purchased a new stake in FedEx in the 4th quarter valued at $27,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of FedEx during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Insider Buying and Selling at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the transaction, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. The trade was a 23.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. HSBC dropped their price target on FedEx from $360.00 to $289.89 and set a "hold" rating on the stock in a research report on Monday, June 1st. Stifel Nicolaus lowered their target price on FedEx from $442.00 to $326.00 and set a "buy" rating on the stock in a research note on Wednesday, June 24th. Rothschild & Co Redburn dropped their price objective on shares of FedEx from $375.00 to $344.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 2nd. Wolfe Research reduced their target price on shares of FedEx from $427.00 to $423.00 and set an "outperform" rating for the company in a research note on Tuesday, April 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of FedEx from a "buy" rating to a "hold" rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $350.54.

FedEx Trading Down 1.2%

Shares of FedEx stock opened at $308.96 on Thursday. The company has a 50-day moving average of $332.02 and a two-hundred day moving average of $350.48. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The stock has a market cap of $73.10 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 1.61 and a beta of 1.29. FedEx Corporation has a 12-month low of $172.88 and a 12-month high of $345.36.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The company had revenue of $23.26 billion for the quarter. On average, research analysts anticipate that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were given a $1.22 dividend. The ex-dividend date was Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. FedEx's dividend payout ratio is currently 26.36%.

About FedEx

FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

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