Cornerstone Wealth Management LLC Raises Holdings in FedEx Co. (NYSE:FDX)

Cornerstone Wealth Management LLC raised its holdings in shares of FedEx Co. (NYSE:FDX) by 30.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,284 shares of the shipping service provider’s stock after purchasing an additional 534 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in FedEx were worth $642,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FDX. Fortitude Family Office LLC grew its stake in 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 acquiring an additional 52 shares in the last quarter. Evermay Wealth Management LLC boosted its holdings in shares of FedEx by 72.7% during 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. Peoples Financial Services CORP. acquired a new position in shares of FedEx during the 4th quarter worth approximately $28,000. City Holding Co. acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $28,000. Finally, FNY Investment Advisers LLC boosted its stake in FedEx by 177.5% during the fourth quarter. FNY Investment Advisers LLC now owns 111 shares of the shipping service provider’s stock worth $31,000 after buying an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Transactions at FedEx

In related news, Director Amy B. Lane purchased 333 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed 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 shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of 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 position. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FDX shares. BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Loop Capital raised shares of FedEx from a “hold” rating to a “buy” rating and increased their price target for the company from $288.00 to $365.00 in a research note on Friday, December 20th. Citigroup lifted their price target on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, TD Cowen raised their target price on FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $325.43.

FedEx Stock Up 1.1 %

Shares of NYSE FDX opened at $273.12 on Friday. The stock has a market cap of $65.78 billion, a P/E ratio of 17.41, a PEG ratio of 1.12 and a beta of 1.20. The business’s fifty day simple moving average is $281.64 and its 200-day simple moving average is $283.27. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter last year, the business posted $3.99 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. As a group, equities analysts predict that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio is presently 35.18%.

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.