FedEx Co. (FDX) Shares Sold by Amalgamated Bank
Amalgamated Bank lessened its position in FedEx Co. (NYSE:FDX) by 3.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 37,421 shares of the shipping service provider’s stock after selling 1,197 shares during the quarter. Amalgamated Bank’s holdings in FedEx were worth $9,011,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new position in FedEx during the second quarter valued at $171,000. CIBC Private Wealth Group LLC raised its stake in FedEx by 0.8% during the second quarter. CIBC Private Wealth Group LLC now owns 58,596 shares of the shipping service provider’s stock valued at $13,304,000 after buying an additional 460 shares during the last quarter. Vicus Capital raised its stake in FedEx by 27.4% during the second quarter. Vicus Capital now owns 6,282 shares of the shipping service provider’s stock valued at $1,426,000 after buying an additional 1,352 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its stake in FedEx by 1.9% during the second quarter. Kornitzer Capital Management Inc. KS now owns 24,410 shares of the shipping service provider’s stock valued at $5,543,000 after buying an additional 460 shares during the last quarter. Finally, Alps Advisors Inc. raised its stake in FedEx by 30.3% during the second quarter. Alps Advisors Inc. now owns 4,042 shares of the shipping service provider’s stock valued at $918,000 after buying an additional 941 shares during the last quarter. Institutional investors own 72.11% of the company’s stock.
FedEx stock opened at $201.39 on Friday. The firm has a market capitalization of $56.79 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 0.97 and a beta of 1.35. FedEx Co. has a 12 month low of $200.12 and a 12 month high of $274.66. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.32 and a quick ratio of 1.26.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 10th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Friday, December 7th. FedEx’s payout ratio is 16.98%.
In other FedEx news, Director Susan Patricia Griffith bought 1,000 shares of FedEx stock in a transaction on Wednesday, October 17th. The stock was acquired at an average price of $225.16 per share, with a total value of $225,160.00. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director John A. Edwardson sold 1,160 shares of FedEx stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $242.35, for a total value of $281,126.00. Following the completion of the sale, the director now directly owns 32,800 shares of the company’s stock, valued at approximately $7,949,080. The disclosure for this sale can be found here. 8.45% of the stock is currently owned by company insiders.
A number of research analysts have issued reports on the company. Zacks Investment Research cut FedEx from a “hold” rating to a “sell” rating in a research note on Tuesday, August 21st. Morgan Stanley set a $240.00 price objective on FedEx and gave the company a “hold” rating in a research note on Monday, October 22nd. JPMorgan Chase & Co. reiterated a “buy” rating and set a $305.00 price objective on shares of FedEx in a research note on Tuesday, September 18th. Credit Suisse Group set a $307.00 price objective on FedEx and gave the company a “buy” rating in a research note on Tuesday, September 18th. Finally, Bank of America lowered their price objective on FedEx from $310.00 to $304.00 and set a “buy” rating for the company in a research note on Tuesday, September 18th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $285.85.
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FedEx Company Profile
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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