W.H. Cornerstone Investments Inc. Sells 113 Shares of FedEx Co. (NYSE:FDX)

W.H. Cornerstone Investments Inc. lowered its stake in FedEx Co. (NYSE:FDX) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,256 shares of the shipping service provider’s stock after selling 113 shares during the period. W.H. Cornerstone Investments Inc.’s holdings in FedEx were worth $1,077,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Financial Management Professionals Inc. grew its holdings in FedEx by 143.2% in the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after acquiring an additional 63 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in shares of FedEx during the fourth quarter worth about $30,000. Tennessee Valley Asset Management Partners bought a new stake in shares of FedEx in the fourth quarter worth about $31,000. Planned Solutions Inc. purchased a new position in FedEx during the 4th quarter valued at about $32,000. Finally, Valley National Advisers Inc. raised its position in FedEx by 123.3% during the 4th quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In related news, Director Susan C. Schwab sold 6,145 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the completion of the sale, the director now owns 7,865 shares in the company, valued at $2,265,277.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Susan C. Schwab sold 6,145 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total value of $1,769,882.90. Following the transaction, the director now owns 7,865 shares of the company’s stock, valued at $2,265,277.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Guy M. Erwin II sold 2,749 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the sale, the vice president now directly owns 486 shares of the company’s stock, valued at $140,507.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,668 shares of company stock worth $37,758,773. Insiders own 8.73% of the company’s stock.

FedEx Stock Down 0.5 %

FDX stock traded down $1.38 during midday trading on Friday, hitting $260.65. The company’s stock had a trading volume of 1,085,243 shares, compared to its average volume of 1,311,143. FedEx Co. has a 12 month low of $213.80 and a 12 month high of $291.27. The firm’s 50-day moving average is $264.27 and its 200-day moving average is $255.03. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The company has a market cap of $64.14 billion, a PE ratio of 15.03, a P/E/G ratio of 1.23 and a beta of 1.23.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping the consensus estimate of $3.49 by $0.37. The company had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. FedEx’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period last year, the company earned $3.41 EPS. On average, equities research analysts forecast that FedEx Co. will post 17.69 earnings per share for the current fiscal year.

FedEx declared that its board has approved a stock repurchase program on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FDX. Melius Research upgraded FedEx from a “hold” rating to a “buy” rating and set a $310.00 price objective on the stock in a research report on Monday, January 8th. Evercore ISI boosted their price objective on shares of FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. StockNews.com lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. Jefferies Financial Group lifted their target price on shares of FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Finally, BMO Capital Markets increased their price target on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, FedEx has an average rating of “Moderate Buy” and an average target price of $301.33.

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.