AMG National Trust Bank Buys New Stake in FedEx Corporation $FDX
I'm LongbridgeAI, I can summarize articles.AMG National Trust Bank acquired a new $3.56 million stake in FedEx (FDX) during Q2, joining other institutional investors increasing their holdings. Meanwhile, insider Paul Walsh sold shares worth $1.64 million. Analyst sentiment varies: BNP Paribas and Goldman Sachs lowered price targets, while Citizens JMP initiated coverage with a 'market outperform' rating and $375 target. Key news includes FedEx's automation strategy, potential pricing benefits from shipping constraints, tariff refund impacts, and recent layoffs in Southern California.
AMG National Trust Bank bought a new position in FedEx Corporation (NYSE:FDX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 11,376 shares of the shipping service provider's stock, valued at approximately $3,562,000.
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A number of other institutional investors and hedge funds have also recently bought and sold shares of FDX. Hollencrest Capital Management acquired a new stake in shares of FedEx in the first quarter valued at about $25,000. Bayban acquired a new position in shares of FedEx during the 1st quarter worth about $26,000. EFG International AG bought a new stake in FedEx during the 4th quarter valued at approximately $27,000. Wealth Watch Advisors INC bought a new stake in FedEx during the 3rd quarter valued at approximately $28,000. Finally, Tucker Asset Management LLC acquired a new stake in FedEx in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 84.47% of the company's stock.
FedEx News Summary
Here are the key news stories impacting FedEx this week:
- Positive Sentiment: Automation strategy supports efficiency: FedEx is sharpening its focus on automation to improve productivity and reduce costs, which could support margins over time. FedEx Automation Strategy Sharpens Focus on Efficiency
- Positive Sentiment: Industry shipping constraints may improve pricing: Capacity limitations, delays and higher prices reported by major ocean carriers could benefit parcel and freight operators such as FedEx if customers shift transportation modes or accept higher shipping rates. Walmart, Tesla, FedEx, and More Winners and Losers From Shipping's Rough Seas
- Neutral Sentiment: Call-option activity signals bullish speculation: Investors purchased a high volume of FedEx call options, indicating increased expectations for a rebound, although options activity does not guarantee fundamental improvement. Investors Purchase High Volume of Call Options on FedEx
- Neutral Sentiment: FedEx Freight’s upbeat debut is separate from FDX: Newly independent FedEx Freight Holding Company NASDAQ: FDXF attracted favorable analyst coverage, with reported targets above its trading level and fiscal fourth-quarter revenue of $2.4 billion. The development may highlight value unlocked by FedEx’s freight separation, but FDXF now trades as a separate company.
- Negative Sentiment: Tariff refunds will not provide a lasting earnings boost: FedEx reportedly plans to return approximately $800 million in tariff refunds to customers after courts invalidated the tariffs. Passing the funds through limits the benefit to FedEx’s profits and could create administrative costs or temporary cash-flow pressure. Nike, FedEx Reap Billions From Tariff Refunds
- Negative Sentiment: Southern California closures and layoffs underscore cost pressure: FedEx is among employers announcing more than 500 job cuts in the region, including facility closures in Palm Springs and Victorville. While potentially supportive of restructuring savings, the actions point to softer demand and ongoing network rationalization. FedEx and Others Announce Layoffs in Southern California
Insider Buying and Selling at FedEx
- FedEx’s Earnings Drop May Be Missing the Bigger Freight Story
In other news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the transaction, the director directly owned 16,359 shares of the company's stock, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.53% of the company's stock.
Wall Street Analyst Weigh In
FDX has been the topic of several recent analyst reports. BNP Paribas Exane dropped their price target on FedEx from $335.00 to $269.76 and set a "neutral" rating on the stock in a research report on Tuesday, June 2nd. Citizens Jmp initiated coverage on FedEx in a research report on Wednesday, July 15th. They issued a "market outperform" rating and a $375.00 price objective for the company. Wall Street Zen upgraded shares of FedEx to a "hold" rating in a research note on Saturday, August 8th. Barclays dropped their target price on shares of FedEx from $450.00 to $425.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 17th. Finally, The Goldman Sachs Group cut their target price on shares of FedEx from $405.00 to $375.00 and set a "buy" rating for the company in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $350.54.
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Check Out Our Latest Research Report on FDX
FedEx Price Performance
NYSE:FDX opened at $334.56 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The company has a 50-day moving average of $319.39 and a 200-day moving average of $351.40. FedEx Corporation has a 52 week low of $177.05 and a 52 week high of $345.36. The company has a market capitalization of $79.15 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 1.72 and a beta of 1.30.
FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business had revenue of $23.26 billion for the quarter. As a group, equities research analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.
FedEx Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were paid a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, June 22nd. FedEx's dividend payout ratio is currently 26.36%.
FedEx Profile
(Free Report)FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.
FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.
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Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Corporation (NYSE:FDX - Free Report).
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