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

Amalgamated Bank trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 5.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor 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.

Several other large investors also recently modified their holdings of FDX. Scarborough Advisors LLC bought a new position in FedEx during the fourth quarter worth $25,000. Fortis Group Advisors LLC raised its holdings in shares of FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares during the period. Sachetta LLC bought a new position in shares of FedEx during the 4th quarter worth about $32,000. Central Valley Advisors LLC acquired a new stake in shares of FedEx in the 2nd quarter valued at about $39,000. Finally, Abound Wealth Management increased its position in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares in the last quarter. 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. The company has a market capitalization of $73.37 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. FedEx Co. has a 52-week low of $224.69 and a 52-week high of $313.84. The business’s fifty day moving average is $293.30 and its 200 day moving average is $274.62. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. During the same quarter last year, the company posted $4.94 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities research analysts anticipate that FedEx Co. will post 20.82 EPS for the current fiscal year.

FedEx Announces Dividend

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

Insider Transactions at FedEx

In related news, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.72, for a total value of $747,115.20. Following the completion of the transaction, the director now directly owns 14,745 shares in the company, valued at $4,345,646.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other FedEx news, Director Paul S. Walsh sold 2,535 shares of FedEx stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.72, for a total transaction of $747,115.20. Following the completion of the sale, the director now owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock valued at $9,882,355 in the last quarter. Insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

FDX has been the subject of a number of research reports. The Goldman Sachs Group raised their price objective 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 set a “buy” rating and a $334.00 price target for the company. Wells Fargo & Company raised their price objective on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. Stifel Nicolaus reissued a “buy” rating and set a $327.00 target price (up from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.58.

FedEx Company 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.