Cornerstone Investment Partners LLC Purchases 351,909 Shares of FedEx Co. (FDX)

Cornerstone Investment Partners LLC lifted its position in shares of FedEx Co. (NYSE:FDX) by 105.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 687,170 shares of the shipping service provider’s stock after purchasing an additional 351,909 shares during the period. FedEx comprises approximately 3.7% of Cornerstone Investment Partners LLC’s portfolio, making the stock its 10th largest position. Cornerstone Investment Partners LLC owned approximately 0.26% of FedEx worth $171,476,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. lifted its position in shares of FedEx by 2.8% during the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after purchasing an additional 13 shares during the last quarter. Krilogy Financial LLC raised its stake in FedEx by 0.4% during the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after acquiring an additional 2 shares in the last quarter. Financial Engines Advisors L.L.C. acquired a new stake in FedEx during the 3rd quarter worth $132,000. Massey Quick Simon & CO. LLC acquired a new stake in FedEx during the 3rd quarter worth $136,000. Finally, Carroll Financial Associates Inc. raised its stake in FedEx by 61.1% during the 3rd quarter. Carroll Financial Associates Inc. now owns 633 shares of the shipping service provider’s stock worth $140,000 after acquiring an additional 240 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently commented on the stock. Citigroup lifted their price target on shares of FedEx to $275.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Barclays reiterated an “overweight” rating and set a $270.00 price target (up from $230.00) on shares of FedEx in a research note on Thursday, November 30th. They noted that the move was a valuation call. KeyCorp assumed coverage on shares of FedEx in a research note on Tuesday, October 10th. They set an “overweight” rating and a $260.00 price target on the stock. Goldman Sachs Group assumed coverage on shares of FedEx in a research note on Monday, November 13th. They set a “buy” rating and a $270.00 price target on the stock. Finally, Stifel Nicolaus lifted their price target on shares of FedEx from $221.00 to $272.00 and gave the stock a “hold” rating in a research note on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $270.49.

FedEx Co. (NYSE FDX) traded down $0.37 during midday trading on Monday, reaching $273.95. 510,697 shares of the company’s stock were exchanged, compared to its average volume of 1,899,085. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $73,170.00, a price-to-earnings ratio of 25.18, a PEG ratio of 1.62 and a beta of 1.36. FedEx Co. has a one year low of $182.89 and a one year high of $274.66.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.29. The company had revenue of $16.30 billion for the quarter, compared to analyst estimates of $15.67 billion. FedEx had a net margin of 4.74% and a return on equity of 20.56%. FedEx’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.80 earnings per share. research analysts anticipate that FedEx Co. will post 13.28 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, December 8th. FedEx’s payout ratio is 18.38%.

In other news, Director David P. Steiner sold 3,016 shares of FedEx stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $266.05, for a total value of $802,406.80. Following the sale, the director now owns 16,040 shares of the company’s stock, valued at $4,267,442. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Henry J. Maier sold 11,150 shares of FedEx stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the completion of the sale, the insider now directly owns 36,747 shares in the company, valued at approximately $8,395,219.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,671 shares of company stock worth $17,137,160. Insiders own 8.45% of the company’s stock.

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FedEx Profile

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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