Citizens Financial Group Inc. RI Acquires 38 Shares of FedEx Co. (NYSE:FDX)

Citizens Financial Group Inc. RI raised its stake in shares of FedEx Co. (NYSE:FDX) by 3.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,308 shares of the shipping service provider’s stock after purchasing an additional 38 shares during the period. Citizens Financial Group Inc. RI’s holdings in FedEx were worth $360,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FDX. Evermay Wealth Management LLC lifted its stake in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares during the period. Highline Wealth Partners LLC acquired a new position in shares of FedEx in the 3rd quarter worth approximately $31,000. Central Valley Advisors LLC bought a new stake in shares of FedEx in the 2nd quarter valued at $39,000. Abound Wealth Management increased its position in shares of FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares during the period. Finally, Sachetta LLC raised its stake in FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of research analyst reports. BMO Capital Markets cut their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 20th. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research report on Friday, September 20th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th. Stifel Nicolaus dropped their price target on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Finally, Bernstein Bank raised their price objective on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Trading Up 1.6 %

NYSE FDX opened at $299.97 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The business has a fifty day simple moving average of $276.34 and a 200 day simple moving average of $277.54. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The firm has a market capitalization of $73.29 billion, a P/E ratio of 18.51, a PEG ratio of 1.23 and a beta of 1.17.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the previous year, the business earned $4.55 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts predict that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio is presently 34.05%.

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.