Amundi Grows Stake in FedEx Co. (NYSE:FDX)

Amundi grew its holdings in shares of FedEx Co. (NYSE:FDX) by 53.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 616,853 shares of the shipping service provider’s stock after purchasing an additional 215,732 shares during the quarter. Amundi’s holdings in FedEx were worth $169,573,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Fortitude Family Office LLC raised its stake in shares of FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after buying an additional 52 shares during the period. Peoples Financial Services CORP. purchased a new position in shares of FedEx in the fourth quarter worth $28,000. City Holding Co. purchased a new stake in FedEx in the 4th quarter worth $28,000. Kentucky Trust Co bought a new position in FedEx during the fourth quarter valued at approximately $28,000. Finally, Activest Wealth Management bought a new position in shares of FedEx during the 4th quarter valued at approximately $29,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Stifel Nicolaus reduced their price objective on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Loop Capital downgraded FedEx from a “buy” rating to a “hold” rating and cut their target price for the company from $365.00 to $283.00 in a research report on Monday, February 3rd. Citigroup raised their price target on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Finally, Wells Fargo & Company lowered their target price on shares of FedEx from $320.00 to $275.00 and set an “equal weight” rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $318.58.

Insider Activity

In other FedEx news, Director Amy B. Lane purchased 333 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were bought at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the acquisition, the director now owns 333 shares in the company, valued at $91,927.98. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the sale, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company’s stock.

FedEx Stock Up 1.6 %

FedEx stock opened at $253.80 on Monday. The business has a fifty day moving average price of $266.55 and a 200-day moving average price of $276.07. FedEx Co. has a 1-year low of $242.92 and a 1-year high of $313.84. The stock has a market capitalization of $61.13 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 1.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.99 earnings per share. Equities research analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.17%. FedEx’s dividend payout ratio is currently 35.18%.

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.