Poplar Forest Capital LLC Has $23.39 Million Stock Position in FedEx Co. (NYSE:FDX)

Poplar Forest Capital LLC boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 0.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,460 shares of the shipping service provider’s stock after buying an additional 59 shares during the period. FedEx makes up about 3.2% of Poplar Forest Capital LLC’s holdings, making the stock its 16th biggest position. Poplar Forest Capital LLC’s holdings in FedEx were worth $23,389,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Evermay Wealth Management LLC increased its position in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in FedEx in the 3rd quarter worth about $31,000. Central Valley Advisors LLC acquired a new position in FedEx in the 2nd quarter worth about $39,000. Abound Wealth Management increased its position in FedEx by 175.9% in the 2nd 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 position in FedEx in the 3rd quarter worth about $47,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FDX has been the topic of several research reports. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Robert W. Baird decreased their price target on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Susquehanna decreased their price target 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, Bank of America decreased their target price on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Two equities research 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Stock Up 1.7 %

Shares of NYSE FDX opened at $280.06 on Thursday. The business has a fifty day moving average of $275.86 and a two-hundred day moving average of $275.26. 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 Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The stock has a market cap of $68.42 billion, a PE ratio of 17.28, a PEG ratio of 1.09 and a beta of 1.17.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.55 earnings per share. As a group, equities research analysts expect that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

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. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.97%. FedEx’s payout ratio is currently 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.