W.H. Cornerstone Investments Inc. Sells 1,218 Shares of FedEx Co. (NYSE:FDX)

W.H. Cornerstone Investments Inc. reduced its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 36.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,106 shares of the shipping service provider's stock after selling 1,218 shares during the quarter. W.H. Cornerstone Investments Inc.'s holdings in FedEx were worth $592,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC raised its position in FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock worth $25,000 after acquiring an additional 52 shares in the last quarter. Evermay Wealth Management LLC raised its position in FedEx by 72.7% during the third 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 in the last quarter. Peoples Financial Services CORP. bought a new position in shares of FedEx in the fourth quarter valued at about $28,000. City Holding Co. bought a new position in shares of FedEx in the fourth quarter valued at about $28,000. Finally, Kentucky Trust Co bought a new position in shares of FedEx in the fourth quarter valued at about $28,000. 84.47% of the stock is owned by institutional investors.

FedEx Price Performance

Shares of FDX traded down $0.42 during mid-day trading on Tuesday, reaching $267.35. The company had a trading volume of 927,497 shares, compared to its average volume of 1,668,628. The company's 50 day simple moving average is $272.17 and its 200 day simple moving average is $278.71. FedEx Co. has a 1-year low of $235.32 and a 1-year 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. The company has a market capitalization of $64.39 billion, a price-to-earnings ratio of 17.04, a P/E/G ratio of 1.07 and a beta of 1.18.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts' consensus estimates of $3.88 by $0.17. The company had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm's quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the company posted $3.99 EPS. Analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.06%. FedEx's dividend payout ratio (DPR) is presently 35.18%.

Insider Activity at FedEx

In related news, CEO Richard W. Smith sold 2,576 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the firm's stock in a transaction that occurred on 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 transaction, the director now owns 8,904 shares of the company's stock, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on FDX. Sanford C. Bernstein lowered shares of FedEx from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Stephens dropped their price objective on shares of FedEx from $350.00 to $345.00 and set an "overweight" rating on the stock in a research report on Friday, December 20th. Bank of America increased their price objective on shares of FedEx from $325.00 to $348.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Citigroup increased their price objective on shares of FedEx from $301.00 to $331.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Finally, Barclays increased their price objective 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $321.87.

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.