Poplar Forest Capital LLC Lowers Stock Position in FedEx Co. (NYSE:FDX)

Poplar Forest Capital LLC cut its stake in shares of FedEx Co. (NYSE:FDX) by 25.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 64,081 shares of the shipping service provider’s stock after selling 21,379 shares during the period. FedEx accounts for approximately 3.3% of Poplar Forest Capital LLC’s holdings, making the stock its 13th biggest holding. Poplar Forest Capital LLC’s holdings in FedEx were worth $18,028,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in FDX. Fortitude Family Office LLC grew its stake in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares during the period. Peoples Financial Services CORP. purchased a new stake in shares of FedEx during the 4th quarter valued at $28,000. City Holding Co. purchased a new stake in shares of FedEx during the 4th quarter valued at $28,000. Kentucky Trust Co purchased a new stake in shares of FedEx during the 4th quarter valued at $28,000. Finally, Activest Wealth Management acquired a new position in shares of FedEx during the 4th quarter valued at $29,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FDX. Wells Fargo & Company lifted their target price on shares of FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Barclays lifted their target price on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Citigroup lifted their target price on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Piper Sandler lowered shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. Finally, TD Cowen lifted their target price on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $321.87.

FedEx Stock Performance

Shares of FedEx stock opened at $263.11 on Friday. The firm has a market cap of $63.37 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.11 and a beta of 1.18. The firm’s 50-day simple moving average is $268.78 and its 200-day simple moving average is $277.40. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx Co. has a 1 year low of $242.92 and a 1 year high of $313.84.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same quarter in the prior year, the business posted $3.99 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. Equities analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.10%. FedEx’s dividend payout ratio is currently 35.18%.

Insiders Place Their Bets

In related news, EVP John W. Dietrich acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was purchased at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the purchase, the executive vice president now directly owns 9,067 shares in the company, valued at $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by corporate insiders.

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.