PNC Financial Services Group Inc. Raises Position in FedEx Co. (NYSE:FDX)

PNC Financial Services Group Inc. lifted its holdings in FedEx Co. (NYSE:FDX) by 0.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,897 shares of the shipping service provider’s stock after buying an additional 259 shares during the period. PNC Financial Services Group Inc.’s holdings in FedEx were worth $21,045,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in FDX. Evermay Wealth Management LLC grew its holdings in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares during the period. Highline Wealth Partners LLC bought a new position in FedEx during the third quarter worth about $31,000. Central Valley Advisors LLC purchased a new position in shares of FedEx in the second quarter worth about $39,000. Abound Wealth Management lifted its stake in shares of FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in FedEx in the 3rd quarter worth approximately $47,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of analyst reports. HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a report on Friday, September 20th. Daiwa America lowered FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Citigroup increased their price target on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Robert W. Baird decreased their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, Raymond James cut their price target on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Trading Up 2.5 %

NYSE FDX opened at $295.34 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The company’s 50 day moving average price is $276.07 and its 200 day moving average price is $277.14. The firm has a market capitalization of $72.16 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 1.22 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its quarterly earnings data 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). The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $4.55 EPS. On average, sell-side analysts predict that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s dividend payout ratio is currently 34.05%.

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.