Amundi Asset Management US Inc. cut its holdings in FedEx Co. (NYSE:FDX) by 43.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 449,354 shares of the shipping service provider’s stock after selling 351,358 shares during the period. Amundi Asset Management US Inc.’s holdings in FedEx were worth $127,635,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of FDX. Norges Bank bought a new stake in FedEx in the fourth quarter worth $523,326,000. Lazard Asset Management LLC lifted its stake in FedEx by 980.7% in the first quarter. Lazard Asset Management LLC now owns 1,270,674 shares of the shipping service provider’s stock worth $360,921,000 after purchasing an additional 1,153,097 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in FedEx by 4.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,127,584 shares of the shipping service provider’s stock worth $2,629,323,000 after purchasing an additional 435,381 shares during the last quarter. BlackRock Inc. lifted its stake in FedEx by 2.2% in the first quarter. BlackRock Inc. now owns 18,519,425 shares of the shipping service provider’s stock worth $5,260,259,000 after purchasing an additional 406,634 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in FedEx by 10,682.3% in the first quarter. Citigroup Inc. now owns 394,404 shares of the shipping service provider’s stock worth $112,026,000 after purchasing an additional 398,131 shares during the last quarter. 71.88% of the stock is owned by institutional investors and hedge funds.
FDX has been the subject of several recent research reports. Credit Suisse Group boosted their price target on shares of FedEx from $364.00 to $373.00 and gave the stock an “outperform” rating in a research note on Friday, June 25th. JPMorgan Chase & Co. set a $340.00 price objective on shares of FedEx and gave the company a “buy” rating in a research note on Thursday, April 8th. Stifel Nicolaus initiated coverage on shares of FedEx in a research note on Monday, June 21st. They set a “buy” rating and a $344.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their price objective on shares of FedEx from $318.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, June 28th. Finally, Raymond James upped their price objective on shares of FedEx from $310.00 to $330.00 and gave the company an “outperform” rating in a research note on Friday, June 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $341.04.
Shares of FDX opened at $298.35 on Thursday. The stock has a market capitalization of $79.76 billion, a PE ratio of 15.34, a PEG ratio of 1.17 and a beta of 1.24. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.86. FedEx Co. has a fifty-two week low of $163.44 and a fifty-two week high of $319.90. The business has a 50-day simple moving average of $300.66.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Wednesday, June 23rd. The shipping service provider reported $5.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.99 by $0.02. The business had revenue of $22.57 billion for the quarter, compared to analysts’ expectations of $21.54 billion. FedEx had a net margin of 6.23% and a return on equity of 22.55%. The business’s revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.53 earnings per share. On average, sell-side analysts forecast that FedEx Co. will post 21.28 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 12th. Stockholders of record on Monday, June 28th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, June 25th. This is an increase from FedEx’s previous quarterly dividend of $0.65. FedEx’s dividend payout ratio is currently 16.51%.
FedEx Corp. is a holding company, which engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other, and Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.
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