Kiltearn Partners LLP Lowers Position in FedEx Co. (NYSE:FDX)

Kiltearn Partners LLP lowered its stake in shares of FedEx Co. (NYSE:FDX) by 16.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,800 shares of the shipping service provider’s stock after selling 7,200 shares during the period. FedEx makes up approximately 1.4% of Kiltearn Partners LLP’s portfolio, making the stock its 25th biggest holding. Kiltearn Partners LLP’s holdings in FedEx were worth $10,345,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FDX. Silvercrest Asset Management Group LLC purchased a new stake in shares of FedEx during the first quarter valued at approximately $629,000. Waverly Advisors LLC boosted its holdings in FedEx by 124.6% in the first quarter. Waverly Advisors LLC now owns 3,522 shares of the shipping service provider’s stock valued at $1,021,000 after purchasing an additional 1,954 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in FedEx by 15.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 13,944 shares of the shipping service provider’s stock valued at $3,711,000 after purchasing an additional 1,894 shares in the last quarter. Tidal Investments LLC increased its holdings in FedEx by 77.9% during the 1st quarter. Tidal Investments LLC now owns 17,530 shares of the shipping service provider’s stock worth $5,079,000 after purchasing an additional 7,678 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. purchased a new position in shares of FedEx during the 1st quarter valued at approximately $251,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of recent analyst reports. Bank of America cut their target price on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. BMO Capital Markets reduced their price objective on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research note on Friday, September 20th. TD Cowen decreased their price objective on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. Evercore ISI dropped their target price on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, Stephens reissued an “overweight” rating and issued a $350.00 target price on shares of FedEx in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Price Performance

Shares of FDX opened at $302.95 on Wednesday. The business’s 50-day moving average is $276.70 and its 200-day moving average is $278.25. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The company has a market capitalization of $74.02 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 1.27 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $4.55 earnings per share. Equities research analysts expect that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a $1.38 dividend. The ex-dividend date is Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.82%. FedEx’s dividend payout ratio (DPR) is currently 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.