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

Cornerstone Wealth Management LLC increased its position in shares of FedEx Co. (NYSE:FDX) by 30.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,284 shares of the shipping service provider’s stock after buying an additional 534 shares during the period. Cornerstone Wealth Management LLC’s holdings in FedEx were worth $642,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in FedEx during the 3rd quarter valued at about $3,405,000. Czech National Bank raised its stake in FedEx by 6.4% in the third quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock worth $12,564,000 after buying an additional 2,767 shares in the last quarter. Wedmont Private Capital lifted its holdings in FedEx by 4.1% during the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after buying an additional 91 shares during the period. Persium Advisors LLC bought a new stake in FedEx during the 4th quarter valued at $530,000. Finally, Magnolia Capital Advisors LLC purchased a new position in shares of FedEx in the 2nd quarter valued at $9,226,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Price Performance

Shares of FDX opened at $273.12 on Friday. The business’s 50-day moving average is $281.64 and its two-hundred day moving average is $283.27. The company has a market capitalization of $65.78 billion, a P/E ratio of 17.41, a P/E/G ratio of 1.12 and a beta of 1.20. 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 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping 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 firm had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same period last year, the company earned $3.99 earnings per share. FedEx’s revenue for the quarter was down .7% compared to the same quarter last year. Research analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

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

Insider Buying and Selling at FedEx

In related news, Director Amy B. Lane purchased 333 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were purchased at an average price of $276.06 per share, with a total value of $91,927.98. Following the purchase, the director now owns 333 shares of the company’s stock, valued at $91,927.98. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John W. Dietrich acquired 1,000 shares of FedEx stock in a transaction on Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the transaction, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This trade represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. lifted their price objective on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Barclays increased their target price on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Citigroup lifted their price target on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $325.43.

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.