Poplar Forest Capital LLC Increases Stock Holdings in FedEx Co. (NYSE:FDX)

Poplar Forest Capital LLC grew its position in FedEx Co. (NYSE:FDX) by 0.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,460 shares of the shipping service provider’s stock after buying an additional 59 shares during the quarter. FedEx accounts for approximately 3.2% of Poplar Forest Capital LLC’s holdings, making the stock its 16th biggest holding. Poplar Forest Capital LLC’s holdings in FedEx were worth $23,389,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Graypoint LLC increased its position in FedEx by 8.9% during the 3rd quarter. Graypoint LLC now owns 1,726 shares of the shipping service provider’s stock worth $472,000 after purchasing an additional 141 shares in the last quarter. Radnor Capital Management LLC increased its position in FedEx by 11.2% during the 3rd quarter. Radnor Capital Management LLC now owns 8,447 shares of the shipping service provider’s stock worth $2,312,000 after purchasing an additional 849 shares in the last quarter. Catalina Capital Group LLC purchased a new stake in FedEx during the 3rd quarter worth about $202,000. Avidian Wealth Enterprises LLC lifted its position in FedEx by 12.1% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 2,358 shares of the shipping service provider’s stock worth $645,000 after acquiring an additional 254 shares in the last quarter. Finally, FSM Wealth Advisors LLC lifted its position in FedEx by 3.9% during the 3rd quarter. FSM Wealth Advisors LLC now owns 1,113 shares of the shipping service provider’s stock worth $305,000 after acquiring an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on FDX shares. Susquehanna reduced their price target on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research report on Friday, September 20th. StockNews.com lowered FedEx from a “buy” rating to a “hold” rating in a research report on Tuesday. BMO Capital Markets reduced their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 20th. JPMorgan Chase & Co. dropped their price objective on FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Finally, Stephens restated an “overweight” rating and set a $350.00 price objective on shares of FedEx in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $314.17.

FedEx Trading Up 1.7 %

Shares of FDX stock opened at $280.06 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The firm has a market capitalization of $68.42 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 1.09 and a beta of 1.17. The stock has a fifty day moving average of $275.86 and a two-hundred day moving average of $275.26. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84.

FedEx (NYSE:FDX) last announced 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 firm had revenue of $21.58 billion during 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%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $4.55 EPS. As a group, research analysts expect that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 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.