Amalgamated Bank decreased its stake in shares of FedEx Co. (NYSE:FDX) by 3.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 37,421 shares of the shipping service provider’s stock after selling 1,197 shares during the period. Amalgamated Bank’s holdings in FedEx were worth $9,011,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of FDX. Parkside Financial Bank & Trust raised its holdings in shares of FedEx by 10.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,422 shares of the shipping service provider’s stock valued at $583,000 after acquiring an additional 233 shares in the last quarter. Nwam LLC raised its holdings in shares of FedEx by 13.4% in the 3rd quarter. Nwam LLC now owns 2,012 shares of the shipping service provider’s stock valued at $484,000 after acquiring an additional 237 shares in the last quarter. KCS Wealth Advisory raised its holdings in shares of FedEx by 4.6% in the 3rd quarter. KCS Wealth Advisory now owns 5,490 shares of the shipping service provider’s stock valued at $1,322,000 after acquiring an additional 239 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of FedEx by 0.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 42,827 shares of the shipping service provider’s stock valued at $10,311,000 after acquiring an additional 242 shares in the last quarter. Finally, Vantage Financial Partners Ltd. Inc. increased its position in shares of FedEx by 5.2% during the 3rd quarter. Vantage Financial Partners Ltd. Inc. now owns 5,050 shares of the shipping service provider’s stock valued at $1,216,000 after purchasing an additional 250 shares during the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently commented on FDX. Berenberg Bank began coverage on FedEx in a research report on Friday, September 21st. They set a “buy” rating and a $300.00 price objective on the stock. Robert W. Baird increased their price objective on FedEx from $265.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, September 18th. Morgan Stanley reiterated a “hold” rating and set a $242.00 price objective (down from $245.00) on shares of FedEx in a research report on Tuesday, September 18th. Zacks Investment Research upgraded FedEx from a “sell” rating to a “hold” rating in a research report on Monday, December 3rd. Finally, Wolfe Research set a $275.00 price objective on FedEx and gave the company a “buy” rating in a research report on Tuesday, September 18th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $285.85.
In related news, Director John A. Edwardson sold 1,160 shares of the firm’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $242.35, for a total transaction of $281,126.00. Following the transaction, the director now directly owns 32,800 shares in the company, valued at approximately $7,949,080. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Susan Patricia Griffith acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, October 17th. The stock was acquired at an average price of $225.16 per share, for a total transaction of $225,160.00. The disclosure for this purchase can be found here. 8.45% of the stock is owned by company insiders.
FDX opened at $201.39 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.26 and a current ratio of 1.32. FedEx Co. has a 1 year low of $200.12 and a 1 year high of $274.66. The company has a market cap of $56.79 billion, a P/E ratio of 13.15, a P/E/G ratio of 0.97 and a beta of 1.35.
FedEx (NYSE:FDX) last posted its quarterly earnings results on Monday, September 17th. The shipping service provider reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.78 by ($0.32). FedEx had a return on equity of 23.71% and a net margin of 7.16%. The company had revenue of $17.05 billion for the quarter, compared to the consensus estimate of $16.88 billion. During the same quarter in the previous year, the business earned $2.65 earnings per share. FedEx’s revenue was up 11.5% compared to the same quarter last year. Research analysts forecast that FedEx Co. will post 17.36 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 10th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, December 7th. This represents a $2.60 annualized dividend and a yield of 1.29%. FedEx’s payout ratio is 16.98%.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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