FedEx Co. (NYSE:FDX) Shares Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI increased its position in FedEx Co. (NYSE:FDX) by 74.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,270 shares of the shipping service provider’s stock after acquiring an additional 542 shares during the period. Citizens Financial Group Inc. RI’s holdings in FedEx were worth $381,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of FedEx by 5.6% in the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after buying an additional 1,056,061 shares in the last quarter. Capital International Investors raised its position in FedEx by 32.5% during the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after acquiring an additional 2,163,622 shares during the last quarter. Putnam Investments LLC lifted its holdings in shares of FedEx by 38.1% in the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after purchasing an additional 798,084 shares in the last quarter. Mawer Investment Management Ltd. grew its position in shares of FedEx by 43.5% in the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after purchasing an additional 684,679 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of FedEx by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock worth $654,312,000 after purchasing an additional 121,240 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Performance

NYSE:FDX opened at $298.17 on Thursday. The firm’s fifty day simple moving average is $293.30 and its 200 day simple moving average is $274.62. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The firm has a market capitalization of $73.37 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping the consensus estimate of $5.34 by $0.07. The company had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company’s revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.94 earnings per share. As a group, equities research analysts expect that FedEx Co. will post 20.82 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be paid a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.85%. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Insider Activity at FedEx

In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the transaction, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the transaction, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the sale, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. In the last three months, insiders sold 32,944 shares of company stock valued at $9,882,355. Corporate insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. The Goldman Sachs Group increased their target price on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. StockNews.com cut FedEx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 24th. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Evercore ISI lowered their price target on shares of FedEx from $339.00 to $335.00 and set an “outperform” rating for the company in a report on Thursday, September 12th. Finally, Argus upped their price objective on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $314.58.

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.