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

Kiltearn Partners LLP trimmed its position in FedEx Co. (NYSE:FDX) by 17.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 45,000 shares of the shipping service provider’s stock after selling 9,600 shares during the period. FedEx comprises about 1.6% of Kiltearn Partners LLP’s investment portfolio, making the stock its 24th biggest position. Kiltearn Partners LLP’s holdings in FedEx were worth $13,493,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Fortis Group Advisors LLC increased its holdings in FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 50 shares during the last quarter. Scarborough Advisors LLC purchased a new position in shares of FedEx during the 4th quarter worth $25,000. Central Valley Advisors LLC bought a new stake in shares of FedEx during the 2nd quarter valued at $39,000. Security National Bank purchased a new stake in shares of FedEx in the 4th quarter worth $44,000. Finally, Abound Wealth Management lifted its position in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

FedEx Trading Up 1.6 %

FDX opened at $258.82 on Tuesday. The stock has a 50-day moving average of $291.50 and a 200 day moving average of $275.28. 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 12 month low of $224.69 and a 12 month high of $313.84. The firm has a market cap of $63.69 billion, a P/E ratio of 15.02, a P/E/G ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter last year, the firm posted $4.55 EPS. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, research analysts forecast that FedEx Co. will post 20.82 EPS for the current year.

FedEx Dividend Announcement

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. This represents a $5.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio is currently 32.04%.

Analysts Set New Price Targets

A number of brokerages have commented on FDX. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Robert W. Baird reduced their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday. The Goldman Sachs Group lowered their price target on shares of FedEx from $333.00 to $332.00 in a report on Friday. Argus increased their price objective on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, Evercore ISI decreased their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $314.74.

Insider Activity

In related news, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.72, for a total transaction of $747,115.20. Following the transaction, the director now directly owns 14,745 shares in the company, valued at approximately $4,345,646.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.72, for a total transaction of $747,115.20. Following the completion of the sale, the director now directly owns 14,745 shares of the company’s stock, valued at approximately $4,345,646.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the transaction, the chief accounting officer now directly owns 930 shares in the company, valued at approximately $278,293.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is currently owned by company insiders.

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.