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

Kiltearn Partners LLP reduced its position in FedEx Co. (NYSE:FDX) by 17.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,000 shares of the shipping service provider’s stock after selling 9,600 shares during the quarter. FedEx accounts for about 1.6% of Kiltearn Partners LLP’s holdings, making the stock its 24th largest holding. Kiltearn Partners LLP’s holdings in FedEx were worth $13,493,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Capital International Investors boosted its stake in FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after buying an additional 2,163,622 shares in the last quarter. Sentry LLC bought a new stake in shares of FedEx in the 4th quarter worth approximately $307,007,000. Vanguard Group Inc. boosted its stake in shares of FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after purchasing an additional 1,056,061 shares in the last quarter. Putnam Investments LLC grew its holdings in shares of FedEx by 38.1% during the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after purchasing an additional 798,084 shares during the last quarter. Finally, Mawer Investment Management Ltd. raised its position in FedEx by 43.5% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after purchasing an additional 684,679 shares during the period. 84.47% of the stock is currently owned by institutional investors.

FedEx Trading Up 1.6 %

Shares of NYSE FDX opened at $258.82 on Tuesday. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The firm has a 50-day moving average of $291.50 and a 200 day moving average of $275.28. The stock has a market cap of $63.69 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.55 earnings per share. As a group, sell-side analysts expect that FedEx Co. will post 20.82 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.13%. FedEx’s payout ratio is presently 32.04%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FDX. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Bank of America reduced their price target on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Susquehanna lowered their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research report on Friday. Argus raised their target price on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.74.

Insider Transactions at FedEx

In related news, EVP Brie Carere sold 1,958 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director David P. Steiner sold 1,369 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $297.71, for a total value of $407,564.99. Following the completion of the transaction, the director now owns 35,183 shares in the company, valued at $10,474,330.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock valued at $9,882,355 in the last quarter. 8.73% of the stock is owned by 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.