Amalgamated Bank Sells 1,091 Shares of FedEx Co. (NYSE:FDX)

Amalgamated Bank reduced its stake in FedEx Co. (NYSE:FDX) by 2.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 43,752 shares of the shipping service provider’s stock after selling 1,091 shares during the quarter. Amalgamated Bank’s holdings in FedEx were worth $12,309,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of FDX. Geode Capital Management LLC grew its stake in FedEx by 1.5% in the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock worth $1,281,335,000 after purchasing an additional 67,502 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of FedEx by 8.6% in the 3rd 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 during the period. Hotchkis & Wiley Capital Management LLC grew its position in shares of FedEx by 0.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock worth $465,031,000 after buying an additional 11,100 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of FedEx by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock valued at $397,267,000 after buying an additional 13,093 shares during the period. Finally, Sentry LLC raised its holdings in shares of FedEx by 0.4% in the fourth quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider’s stock valued at $342,412,000 after acquiring an additional 5,404 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on FDX shares. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. UBS Group lifted their price objective on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a report on Friday, December 20th. Loop Capital downgraded shares of FedEx from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $365.00 to $283.00 in a research note on Monday, February 3rd. Bank of America increased their target price on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, TD Cowen boosted their price target on FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $321.87.

FedEx Stock Performance

Shares of FDX stock opened at $256.31 on Wednesday. The business has a fifty day moving average of $269.72 and a 200 day moving average of $277.80. FedEx Co. has a 1 year low of $239.07 and a 1 year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The firm has a market capitalization of $61.73 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 1.11 and a beta of 1.18.

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

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is currently 35.18%.

Insider Transactions at FedEx

In other news, Director Susan C. Schwab sold 3,980 shares of the company’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 sale, the director now owns 8,904 shares in the company, valued at $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the transaction, the chief executive officer now owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

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.