Cornerstone Wealth Management Trims Stake in FedEx

In a recent strategic move, Cornerstone Wealth Management LLC has reduced its investment in FedEx Co. (NYSE:FDX), according to the latest Securities and Exchange Commission filings. The reduction took place in the fourth quarter and constituted a 2.0% sell-off, amounting to 48 shares. Following the sale, Cornerstone's remaining ownership in FedEx totals 2,383 shares, valued at approximately $603,000.

Recent Investments by Other Funds

Meanwhile, other financial institutions have also been adjusting their stakes in FedEx. Camarda Financial Advisors LLC experienced a slight increase of 0.6%, bringing its share count to 6,419, while M&R Capital Management Inc. saw a 0.3% hike, owning 16,192 shares. Furthermore, Family Legacy Inc.'s shares went up by 3.2%, and Venturi Wealth Management LLC escalated its holdings by a robust 42.5%. Wade G W & Inc. also joined the trend with a marginal increase of 0.3%, signaling considerable activity around FedEx's stock amongst hedge funds and institutional investors, who collectively own over 73% of the company.

Analyst Perspectives

Analysts have taken varied stances on FedEx, with some upgrading and others downgrading the stock. Notable updates include Melius's shift from a 'hold' to a 'buy' rating and Stifel Nicolaus's increase in price objective. Conversely, JPMorgan Chase & Co. and Raymond James adjusted their price objectives downwards. Overall, FedEx holds a 'Moderate Buy' consensus rating from analysts, with numerous 'buy' endorsements.

Insider Transactions

There has been noteworthy insider activity at FedEx as well, with Director Amy B. Lane and EVP John W. Dietrich making significant share purchases. These transactions demonstrate continued confidence by insiders in the company's future prospects.

FedEx's Financial Performance

FedEx's stock has demonstrated consistent market performance, with its opening price recently recorded at $256.62. The company maintains healthy financial ratios and has a notable market capitalization. However, its latest quarterly earnings fell slightly short of expectations, reporting an EPS of $3.99 against the predicted $4.14. Despite a year-over-year dip in quarterly revenue, FedEx possesses a strong return on equity and net margin.

Dividend Announcement

FedEx also declared a quarterly dividend of $1.26 per share, reinforcing its steady commitment to shareholder returns. This equates to an annualized yield of approximately 1.96%. The company's dividend payout ratio stands at an attractive 29.86%.

About FedEx

FedEx Corporation offers a broad range of transportation, e-commerce, and business services globally. It operates multiple segments, including the pivotal FedEx Express segment which provides diverse shipping services and time-critical delivery solutions.

Cornerstone, Wealth, FedEx