FedEx Corporation $FDX Shares Sold by Amundi

Amundi cut its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 53.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 469,156 shares of the shipping service provider's stock after selling 546,688 shares during the quarter. Amundi owned 0.20% of FedEx worth $146,907,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its holdings in FedEx by 37,961.3% in the second quarter. California State Teachers Retirement System now owns 98,431,789 shares of the shipping service provider's stock worth $30,821,946,000 after acquiring an additional 98,173,175 shares during the last quarter. BlackRock Inc. bought a new stake in FedEx in the second quarter valued at $6,508,103,000. State Street Corp boosted its holdings in shares of FedEx by 4.2% during the fourth quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider's stock valued at $2,763,824,000 after acquiring an additional 382,848 shares during the period. Primecap Management Co. CA bought a new position in shares of FedEx during the second quarter worth about $2,554,138,000. Finally, Franklin Resources Inc. grew its position in shares of FedEx by 6.6% during the fourth quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider's stock worth $1,482,785,000 after acquiring an additional 318,293 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Bank of America lifted their price objective on shares of FedEx from $376.00 to $378.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. Truist Financial decreased their target price on shares of FedEx from $425.00 to $365.00 and set a "buy" rating for the company in a research report on Thursday, June 25th. TD Cowen dropped their price target on shares of FedEx from $426.00 to $354.00 in a research note on Wednesday, June 24th. Raymond James Financial set a $330.00 price objective on FedEx in a report on Friday, August 28th. Finally, HSBC lowered their price target on FedEx from $360.00 to $289.89 and set a "hold" rating on the stock in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $348.32.

FedEx Stock Down 2.5%

NYSE FDX opened at $314.34 on Wednesday. FedEx Corporation has a 12 month low of $177.86 and a 12 month high of $345.36. The company has a market capitalization of $74.40 billion, a P/E ratio of 16.98, a PEG ratio of 1.71 and a beta of 1.32. The company's 50 day simple moving average is $319.31 and its 200 day simple moving average is $348.06. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44.

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

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 14th will be paid a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. FedEx's dividend payout ratio (DPR) is currently 26.36%.

Insider Activity

In related news, Director Paul Walsh sold 5,042 shares of FedEx stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following 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 legal filing with the SEC, which is available through this link. 0.65% of the stock is owned by insiders.

About FedEx

FedEx Corporation NYSE: FDX is a global transportation, e-commerce and business services company. Through its operating companies, FedEx provides package delivery, freight transportation, logistics, supply chain management and related services for businesses, governments and consumers.

The company's offerings include time-definite express shipping, ground delivery, less-than-truckload freight transportation, customs and international trade support, warehousing, fulfillment and other logistics solutions.

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