Kiltearn Partners LLP Decreases Stake in FedEx Co. (NYSE:FDX)

Kiltearn Partners LLP cut its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 16.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,800 shares of the shipping service provider's stock after selling 7,200 shares during the period. FedEx comprises approximately 1.4% of Kiltearn Partners LLP's investment portfolio, making the stock its 25th biggest holding. Kiltearn Partners LLP's holdings in FedEx were worth $10,345,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its holdings in FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider's stock worth $674,336,000 after acquiring an additional 578,350 shares during the period. Dimensional Fund Advisors LP increased its holdings 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 valued at $654,312,000 after purchasing an additional 121,240 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of FedEx by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider's stock valued at $397,267,000 after purchasing an additional 13,093 shares during the period. Sentry LLC increased its holdings in FedEx by 0.5% in the second quarter. Sentry LLC now owns 1,219,405 shares of the shipping service provider's stock valued at $365,626,000 after buying an additional 6,657 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of FedEx by 473.8% in the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider's stock worth $2,147,540,000 after acquiring an additional 647,926 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Bank of America reduced their price target on FedEx from $347.00 to $345.00 and set a "buy" rating for the company in a report on Wednesday, September 18th. Daiwa America cut shares of FedEx from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, September 11th. Bernstein Bank upped 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. 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 research report on Friday, September 20th. Finally, JPMorgan Chase & Co. decreased their price target on shares of FedEx from $359.00 to $350.00 and set an "overweight" rating on the stock in a research note on Friday, September 20th. Two equities 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's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $316.04.

FedEx Trading Down 0.3 %

Shares of NYSE:FDX traded down $0.89 during midday trading on Wednesday, reaching $302.09. 586,259 shares of the company's stock were exchanged, compared to its average volume of 1,797,033. The stock has a market cap of $73.81 billion, a price-to-earnings ratio of 18.69, a P/E/G 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's 50 day simple moving average is $276.70 and its two-hundred day simple moving average is $278.25. 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 - Get Free Report) last announced 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). The company 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 was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.55 earnings per share. As a group, sell-side analysts forecast that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.83%. FedEx's dividend payout ratio is currently 34.05%.

FedEx 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.