W.H. Cornerstone Investments Inc. Has $592,000 Position in FedEx Co. (NYSE:FDX)

W.H. Cornerstone Investments Inc. lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 36.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,106 shares of the shipping service provider’s stock after selling 1,218 shares during the period. W.H. Cornerstone Investments Inc.’s holdings in FedEx were worth $592,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in FDX. Exchange Traded Concepts LLC bought a new position in FedEx during the 3rd quarter worth approximately $97,000. CX Institutional increased its position in shares of FedEx by 7.6% in the 3rd quarter. CX Institutional now owns 2,552 shares of the shipping service provider’s stock valued at $698,000 after buying an additional 180 shares in the last quarter. Creative Planning grew its stake in FedEx by 15.7% in the third quarter. Creative Planning now owns 81,696 shares of the shipping service provider’s stock valued at $22,237,000 after acquiring an additional 11,081 shares during the period. Swedbank AB grew its position in shares of FedEx by 0.4% in the 3rd quarter. Swedbank AB now owns 111,426 shares of the shipping service provider’s stock valued at $30,495,000 after purchasing an additional 403 shares during the period. Finally, Sumitomo Life Insurance Co. raised its holdings in FedEx by 4.3% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 2,901 shares of the shipping service provider’s stock worth $794,000 after buying an additional 120 shares during the period. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

Shares of FDX opened at $263.30 on Friday. The company’s 50-day moving average is $272.98 and its 200-day moving average is $279.56. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The firm has a market capitalization of $63.41 billion, a PE ratio of 16.78, a PEG ratio of 1.07 and a beta of 1.18. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84.

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

Insider Activity at FedEx

In other FedEx news, Director Amy B. Lane purchased 333 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were acquired at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the transaction, the director now owns 333 shares in the company, valued at $91,927.98. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Raymond James raised their price objective on shares of FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. BMO Capital Markets increased their price objective on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Bank of America boosted their target price on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Stifel Nicolaus decreased their price target on shares of FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Finally, Citigroup boosted their price objective on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $321.87.

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.