FedEx Co. (NYSE:FDX) Shares Sold by Kiltearn Partners LLP

Kiltearn Partners LLP reduced its holdings in shares of FedEx Co. (NYSE:FDX) by 16.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,800 shares of the shipping service provider’s stock after selling 7,200 shares during the period. FedEx makes up 1.4% of Kiltearn Partners LLP’s holdings, making the stock its 25th largest position. Kiltearn Partners LLP’s holdings in FedEx were worth $10,345,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Evermay Wealth Management LLC raised its holdings 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 buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in FedEx during the 3rd quarter valued at about $31,000. Central Valley Advisors LLC acquired a new position in shares of FedEx in the second quarter valued at about $39,000. Abound Wealth Management raised its stake in shares of FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of FedEx during the third quarter worth about $47,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Price Performance

Shares of FDX opened at $302.95 on Wednesday. The company has a market capitalization of $74.02 billion, a price-to-earnings ratio of 18.69, a price-to-earnings-growth ratio of 1.27 and a beta of 1.17. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The firm has a 50-day simple moving average of $276.70 and a 200-day simple moving average of $278.25. 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 (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $4.55 EPS. On average, equities research analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.82%. The ex-dividend date is Monday, December 9th. FedEx’s payout ratio is 34.05%.

Analyst Ratings Changes

Several analysts have commented on FDX shares. Barclays lifted their price objective on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a research note on Friday, September 20th. Citigroup raised their price objective on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Susquehanna reduced their target price on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Finally, Raymond James dropped their price target on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Two 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $316.04.

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.