Amalgamated Bank Decreases Holdings in FedEx Co. (NYSE:FDX)

Amalgamated Bank reduced its position in FedEx Co. (NYSE:FDX) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,752 shares of the shipping service provider’s stock after selling 1,091 shares during the period. Amalgamated Bank’s holdings in FedEx were worth $12,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. FourThought Financial Partners LLC purchased a new position in FedEx in the fourth quarter worth about $1,140,000. Processus Wealth & Capital Management LLC boosted its holdings in shares of FedEx by 1.5% in the fourth quarter. Processus Wealth & Capital Management LLC now owns 16,505 shares of the shipping service provider’s stock worth $4,643,000 after buying an additional 240 shares during the last quarter. BHK Investment Advisors LLC grew its position in FedEx by 2.7% during the fourth quarter. BHK Investment Advisors LLC now owns 2,853 shares of the shipping service provider’s stock valued at $803,000 after buying an additional 76 shares during the period. Mengis Capital Management Inc. grew its position in FedEx by 2.2% during the fourth quarter. Mengis Capital Management Inc. now owns 10,297 shares of the shipping service provider’s stock valued at $2,897,000 after buying an additional 220 shares during the period. Finally, BankPlus Trust Department purchased a new stake in FedEx during the fourth quarter valued at approximately $306,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Amy B. Lane acquired 333 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company’s stock.

FedEx Price Performance

Shares of FedEx stock opened at $256.31 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12 month low of $239.07 and a 12 month high of $313.84. The stock has a 50 day moving average of $269.72 and a 200 day moving average of $277.80. The firm has a market cap of $61.73 billion, a PE ratio of 16.34, a PEG ratio of 1.11 and a beta of 1.18.

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

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.15%. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Analyst Upgrades and Downgrades

FDX has been the topic of several analyst reports. Bank of America lifted their price target on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Barclays boosted their price target on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. BMO Capital Markets raised their price objective on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. TD Cowen lifted their price objective on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Piper Sandler lowered shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $321.87.

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.