Amalgamated Bank Sells 2,481 Shares of FedEx Co. (NYSE:FDX)

Amalgamated Bank decreased its stake in shares of FedEx Co. (NYSE:FDX) by 5.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 45,899 shares of the shipping service provider’s stock after selling 2,481 shares during the period. Amalgamated Bank’s holdings in FedEx were worth $13,762,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Precision Wealth Strategies LLC acquired a new stake in FedEx during the 4th quarter worth approximately $324,000. Gladstone Institutional Advisory LLC lifted its holdings in shares of FedEx by 42.2% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 3,625 shares of the shipping service provider’s stock worth $917,000 after buying an additional 1,075 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in shares of FedEx by 12.3% in the fourth quarter. Coldstream Capital Management Inc. now owns 4,011 shares of the shipping service provider’s stock valued at $1,015,000 after acquiring an additional 440 shares during the period. Wells Fargo & Company MN grew its stake in shares of FedEx by 2.9% in the fourth quarter. Wells Fargo & Company MN now owns 630,171 shares of the shipping service provider’s stock valued at $159,414,000 after acquiring an additional 17,491 shares in the last quarter. Finally, Sachetta LLC bought a new position in FedEx during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Up 0.3 %

Shares of FDX stock opened at $298.17 on Thursday. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The stock’s fifty day simple moving average is $293.30 and its 200 day simple moving average is $274.62. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $73.37 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping the consensus estimate of $5.34 by $0.07. The company had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business posted $4.94 earnings per share. As a group, sell-side analysts predict that FedEx Co. will post 20.82 EPS for the current fiscal year.

FedEx Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have issued reports on FDX. Oppenheimer restated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. Bank of America reduced their price target on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $327.00 price objective (up from $303.00) on shares of FedEx in a report on Wednesday, June 26th. Stephens reissued an “overweight” rating and set a $325.00 target price on shares of FedEx in a report on Wednesday, June 26th. Finally, Raymond James dropped their price target on FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $314.58.

Insider Buying and Selling

In related news, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the transaction, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at approximately $278,293.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Guy M. Erwin II sold 116 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the sale, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David P. Steiner sold 1,369 shares of FedEx stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $297.71, for a total value of $407,564.99. Following the completion of the transaction, the director now directly owns 35,183 shares in the company, valued at $10,474,330.93. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock valued at $9,882,355 over the last 90 days. 8.73% of the stock is owned by insiders.

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.