BNP PARIBAS ASSET MANAGEMENT Holding S.A. Increases Stake in FedEx Co. (NYSE:FDX)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of FedEx Co. (NYSE:FDX) by 7.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 255,864 shares of the shipping service provider’s stock after purchasing an additional 18,042 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.10% of FedEx worth $76,718,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of FDX. Crossmark Global Holdings Inc. boosted its position in shares of FedEx by 20.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock valued at $7,398,000 after buying an additional 5,055 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of FedEx in the first quarter worth approximately $1,667,000. Allegheny Financial Group LTD purchased a new position in shares of FedEx during the first quarter valued at approximately $203,000. Hilltop National Bank bought a new position in FedEx during the first quarter valued at approximately $476,000. Finally, Csenge Advisory Group boosted its holdings in FedEx by 14.9% in the first quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock worth $666,000 after purchasing an additional 298 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FDX. Bank of America raised their price target on FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. The Goldman Sachs Group boosted their price target on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. TD Cowen began coverage on shares of FedEx in a research note on Thursday, August 22nd. They issued a “buy” rating and a $334.00 price objective on the stock. Stephens restated an “overweight” rating and set a $325.00 target price on shares of FedEx in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. upgraded shares of FedEx from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $296.00 to $359.00 in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average target price of $313.96.

FedEx Price Performance

FDX stock traded up $2.42 during midday trading on Friday, hitting $298.67. The company’s stock had a trading volume of 1,096,914 shares, compared to its average volume of 1,804,945. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The company has a 50 day moving average of $292.37 and a two-hundred day moving average of $269.63. The firm has a market capitalization of $73.50 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The firm had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. FedEx’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.94 earnings per share. On average, analysts expect that FedEx Co. will post 20.94 EPS for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be issued a $1.38 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.85%. FedEx’s dividend payout ratio (DPR) is 32.04%.

Insider Buying and Selling

In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the transaction, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,944 shares of company stock worth $9,882,355. Corporate insiders own 8.73% of the company’s stock.

FedEx 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.