Amundi Acquires 215,732 Shares of FedEx Co. (NYSE:FDX)

Amundi grew its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 53.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 616,853 shares of the shipping service provider's stock after buying an additional 215,732 shares during the period. Amundi owned 0.26% of FedEx worth $169,573,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of FedEx in the fourth quarter worth approximately $234,028,000. ACR Alpine Capital Research LLC increased its position in shares of FedEx by 62.9% in the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider's stock worth $239,909,000 after purchasing an additional 329,170 shares during the last quarter. Bryn Mawr Capital Management LLC boosted its stake in FedEx by 22,317.0% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider's stock worth $90,751,000 after buying an additional 321,141 shares in the last quarter. Franklin Resources Inc. boosted its stake in FedEx by 8.6% in the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider's stock worth $1,042,050,000 after buying an additional 314,380 shares in the last quarter. Finally, KBC Group NV boosted its stake in FedEx by 197.4% in the fourth quarter. KBC Group NV now owns 341,390 shares of the shipping service provider's stock worth $96,043,000 after buying an additional 226,608 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FDX. Bank of America upped their target price on FedEx from $325.00 to $348.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Raymond James lowered FedEx from an "outperform" rating to a "market perform" rating in a research note on Monday, February 3rd. Piper Sandler lowered FedEx to a "neutral" rating in a research note on Monday, February 3rd. Stifel Nicolaus dropped their price objective on FedEx from $368.00 to $364.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. Finally, Loop Capital lowered FedEx from a "buy" rating to a "hold" rating and dropped their price objective for the company from $365.00 to $283.00 in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $318.04.

FedEx Stock Down 1.1 %

Shares of NYSE:FDX traded down $2.77 on Thursday, hitting $240.74. 1,562,222 shares of the company traded hands, compared to its average volume of 1,667,225. FedEx Co. has a 52 week low of $239.50 and a 52 week high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The stock has a 50 day simple moving average of $264.35 and a 200-day simple moving average of $275.13. The company has a market cap of $57.98 billion, a PE ratio of 15.34, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22 billion for the quarter, compared to analysts' expectations of $22.14 billion. During the same period last year, the firm posted $3.99 earnings per share. FedEx's revenue was down .7% compared to the same quarter last year. As a group, research analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.29%. FedEx's dividend payout ratio (DPR) is presently 35.18%.

Insider Activity at FedEx

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the firm's stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares of the company's stock, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amy B. Lane bought 333 shares of the company's stock in a transaction on Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the transaction, the director now directly owns 333 shares of the company's stock, valued at approximately $91,927.98. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by insiders.

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.