Cornerstone Advisors LLC Purchases 200 Shares of FedEx Co. (NYSE:FDX)

Cornerstone Advisors LLC grew its position in shares of FedEx Co. (NYSE:FDX) by 2.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,400 shares of the shipping service provider’s stock after buying an additional 200 shares during the quarter. Cornerstone Advisors LLC’s holdings in FedEx were worth $2,025,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of FDX. Evermay Wealth Management LLC grew its position in 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 acquiring an additional 40 shares during the last quarter. Highline Wealth Partners LLC bought a new position in FedEx in the third quarter valued at about $31,000. Central Valley Advisors LLC acquired a new stake in FedEx in the second quarter worth about $39,000. Abound Wealth Management raised its holdings in FedEx by 175.9% during 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 during the 3rd quarter valued at about $47,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Evercore ISI reduced their target price on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. TD Cowen reduced their price target on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. Susquehanna decreased their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday, September 20th. Finally, Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Stock Up 2.5 %

FDX stock opened at $295.34 on Friday. The business’s fifty day moving average price is $276.07 and its two-hundred day moving average price is $277.14. The stock has a market capitalization of $72.16 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 1.22 and a beta of 1.17. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

FedEx (NYSE:FDX) last issued 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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter last year, the firm earned $4.55 EPS. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a $1.38 dividend. The ex-dividend date is Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 1.87%. FedEx’s dividend payout ratio is presently 34.05%.

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.