Cornerstone Advisors LLC Has $2.73 Million Stock Holdings in FedEx Co. (NYSE:FDX)

Cornerstone Advisors LLC boosted its holdings in FedEx Co. (NYSE:FDX) by 31.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,700 shares of the shipping service provider’s stock after purchasing an additional 2,300 shares during the quarter. Cornerstone Advisors LLC’s holdings in FedEx were worth $2,729,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Fortitude Family Office LLC boosted its position in FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after buying an additional 52 shares during the period. Peoples Financial Services CORP. bought a new stake in FedEx during the 4th quarter valued at $28,000. City Holding Co. bought a new stake in shares of FedEx in the 4th quarter worth $28,000. Kentucky Trust Co bought a new position in FedEx during the fourth quarter valued at about $28,000. Finally, Activest Wealth Management purchased a new stake in FedEx during the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Transactions at FedEx

In other FedEx news, Director Amy B. Lane purchased 333 shares of the stock in a transaction dated Thursday, December 26th. The shares were bought 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. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the transaction, the chief executive officer now owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FDX. Loop Capital cut shares of FedEx from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $365.00 to $283.00 in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on FedEx in a research note on Friday. They issued a “buy” rating and a $337.00 price target for the company. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Piper Sandler lowered FedEx to a “neutral” rating in a research report on Monday, February 3rd. Finally, Bank of America lifted their price objective on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $318.58.

FedEx Price Performance

Shares of FedEx stock opened at $246.40 on Tuesday. FedEx Co. has a twelve month low of $242.92 and a twelve month high of $313.84. The stock has a market capitalization of $59.35 billion, a P/E ratio of 15.70, a PEG ratio of 1.11 and a beta of 1.23. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The business’s fifty day moving average price is $265.87 and its 200 day moving average price is $275.74.

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

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.24%. FedEx’s dividend payout ratio is presently 35.18%.

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.