Natixis Advisors LLC Has $35.69 Million Stock Position in FedEx Corporation (NYSE:FDX)

Key Points

• Natixis Advisors LLC has reduced its holdings in FedEx Corporation by 8.5%, bringing its ownership down to 146,417 shares worth approximately $35.7 million.
• Wall Street analysts are generally optimistic about FedEx, with many ratings indicating a "Moderate Buy" and a consensus price target around $283.25.
• FedEx has recently increased its quarterly dividend to $1.45 per share, up from $1.38, reflecting a 2.6% dividend yield.

Natixis Advisors LLC trimmed its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 8.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 146,417 shares of the shipping service provider's stock after selling 13,554 shares during the quarter. Natixis Advisors LLC owned about 0.06% of FedEx worth $35,694,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Dodge & Cox increased its position in FedEx by 5.6% during the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after buying an additional 734,268 shares during the last quarter. Invesco Ltd. increased its position in FedEx by 4.1% during the fourth quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider's stock worth $906,165,000 after buying an additional 127,044 shares during the last quarter. Northern Trust Corp increased its position in FedEx by 13.1% during the fourth quarter. Northern Trust Corp now owns 2,357,017 shares of the shipping service provider's stock worth $663,100,000 after buying an additional 273,478 shares during the last quarter. Dimensional Fund Advisors LP increased its position in FedEx by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,192,801 shares of the shipping service provider's stock worth $616,892,000 after buying an additional 19,795 shares during the last quarter. Finally, ACR Alpine Capital Research LLC increased its position in FedEx by 85.9% during the first quarter. ACR Alpine Capital Research LLC now owns 1,585,033 shares of the shipping service provider's stock worth $386,399,000 after buying an additional 732,266 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other FedEx news, Director R Brad Martin sold 2,123 shares of FedEx stock in a transaction on 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 sale, the director owned 8,935 shares of the company's stock, valued at approximately $2,160,036.25. The trade was a 19.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul S. Walsh sold 3,610 shares of FedEx stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total transaction of $860,226.90. Following the sale, the director directly owned 15,513 shares of the company's stock, valued at $3,696,592.77. This represents a 18.88% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,343 shares of company stock valued at $2,228,816. Company insiders own 8.87% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Bank of America decreased their price target on shares of FedEx from $270.00 to $245.00 and set a "buy" rating for the company in a report on Wednesday, June 25th. Sanford C. Bernstein decreased their price target on shares of FedEx from $282.00 to $249.00 and set a "market perform" rating for the company in a report on Friday, June 13th. Barclays restated an "overweight" rating and set a $320.00 price target (down from $330.00) on shares of FedEx in a report on Wednesday, June 25th. Stifel Nicolaus set a $315.00 price target on shares of FedEx in a report on Wednesday, June 25th. Finally, UBS Group decreased their price target on shares of FedEx from $311.00 to $297.00 and set a "buy" rating for the company in a report on Wednesday, June 25th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, FedEx presently has an average rating of "Moderate Buy" and an average target price of $283.25.

FedEx Price Performance

Shares of FedEx stock traded down $6.47 during midday trading on Friday, reaching $217.02. The company had a trading volume of 2,211,970 shares, compared to its average volume of 1,851,030. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $51.20 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 1.13 and a beta of 1.30. The stock has a fifty day simple moving average of $227.85 and a 200 day simple moving average of $235.48. FedEx Corporation has a 1-year low of $194.29 and a 1-year high of $308.53.

FedEx (NYSE:FDX - Get Free Report) last issued 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 business had revenue of $22.20 billion during the quarter, compared to analyst estimates of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. During the same quarter last year, the business posted $5.41 earnings per share. As a group, equities research analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd were issued a dividend of $1.45 per share. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a yield of 2.7%. This is a boost from FedEx's previous quarterly dividend of $1.38. FedEx's dividend payout ratio (DPR) is presently 34.36%.

FedEx Company Profile

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.