Natixis Advisors L.P. Cuts Stock Holdings in FedEx Co. (NYSE:FDX)

Posted by Defense World Staff on Apr 13th, 2023

Natixis Advisors L.P. cut its stake in shares of FedEx Co. (NYSE:FDX – Get Rating) by 20.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 63,451 shares of the shipping service provider’s stock after selling 15,976 shares during the period. Natixis Advisors L.P.’s holdings in FedEx were worth $10,990,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Coston McIsaac & Partners acquired a new position in FedEx in the second quarter valued at $30,000. Global Wealth Management Investment Advisory Inc. acquired a new position in shares of FedEx in the 1st quarter valued at about $35,000. CenterStar Asset Management LLC purchased a new stake in shares of FedEx during the 4th quarter worth about $29,000. My Personal CFO LLC acquired a new stake in FedEx during the 4th quarter worth approximately $31,000. Finally, Householder Group Estate & Retirement Specialist LLC raised its holdings in FedEx by 163.9% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 190 shares of the shipping service provider’s stock valued at $33,000 after buying an additional 118 shares during the period. 72.02% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Down 0.9 %

NYSE:FDX opened at $229.47 on Thursday. FedEx Co. has a 52 week low of $141.92 and a 52 week high of $248.76. The company has a quick ratio of 1.27, a current ratio of 1.32 and a debt-to-equity ratio of 0.81. The company has a market cap of $57.68 billion, a PE ratio of 19.82, a P/E/G ratio of 1.29 and a beta of 1.33. The business’s 50 day moving average is $213.76 and its two-hundred day moving average is $185.75.

FedEx (NYSE:FDX – Get Rating) last released its quarterly earnings data on Thursday, March 16th. The shipping service provider reported $3.41 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.74. The firm had revenue of $22.17 billion during the quarter, compared to the consensus estimate of $22.74 billion. FedEx had a net margin of 3.23% and a return on equity of 17.71%. The firm’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.59 earnings per share. On average, analysts predict that FedEx Co. will post 14.95 EPS for the current year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Monday, June 12th will be paid a dividend of $1.26 per share. This is a positive change from FedEx’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, June 9th. This represents a $5.04 annualized dividend and a yield of 2.20%. FedEx’s dividend payout ratio is 39.72%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Melius began coverage on shares of FedEx in a research report on Monday, March 27th. They issued a “hold” rating and a $240.00 price objective for the company. Bank of America raised their price objective on FedEx from $233.00 to $305.00 in a research report on Friday, March 17th. JPMorgan Chase & Co. upped their target price on FedEx from $199.00 to $233.00 in a research report on Friday, March 17th. Jefferies Financial Group raised their target price on FedEx from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, December 22nd. Finally, Morgan Stanley upped their price target on FedEx from $145.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, April 6th. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus target price of $241.41.

Insiders Place Their Bets

In other news, CEO Rajesh Subramaniam sold 11,125 shares of the company’s stock in a transaction that occurred on Thursday, April 6th. The stock was sold at an average price of $231.01, for a total transaction of $2,569,986.25. Following the completion of the transaction, the chief executive officer now directly owns 39,483 shares of the company’s stock, valued at $9,120,967.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other FedEx news, CEO Rajesh Subramaniam sold 11,125 shares of the firm’s stock in a transaction on Thursday, April 6th. The stock was sold at an average price of $231.01, for a total value of $2,569,986.25. Following the sale, the chief executive officer now directly owns 39,483 shares in the company, valued at $9,120,967.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frederick W. Smith sold 131,755 shares of the company’s stock in a transaction dated Tuesday, April 11th. The stock was sold at an average price of $232.21, for a total transaction of $30,594,828.55. Following the transaction, the chief executive officer now owns 14,459,759 shares of the company’s stock, valued at approximately $3,357,700,637.39. The disclosure for this sale can be found here. Insiders have sold 146,486 shares of company stock valued at $34,001,009 over the last quarter. Insiders own 8.62% of the company’s stock.

FedEx Profile

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FedEx Corp. provides a broad portfolio of transportation, e-commerce and business services under the FedEx brand. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.