Cerity Partners LLC Acquires 25,698 Shares of FedEx Corporation $FDX

Cerity Partners LLC increased its position in shares of FedEx Corporation (NYSE:FDX) by 27.0% in the 4th quarter, HoldingsChannel reports. The firm owned 120,781 shares of the shipping service provider’s stock after acquiring an additional 25,698 shares during the quarter. Cerity Partners LLC’s holdings in FedEx were worth $34,889,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Franklin Resources Inc. lifted its position in FedEx by 6.6% during the fourth quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock worth $1,482,785,000 after purchasing an additional 318,293 shares during the period. Erste Asset Management GmbH lifted its position in FedEx by 1.4% during the fourth quarter. Erste Asset Management GmbH now owns 14,699 shares of the shipping service provider’s stock worth $4,475,000 after purchasing an additional 199 shares during the period. Brandywine Global Investment Management LLC lifted its position in FedEx by 69.0% during the fourth quarter. Brandywine Global Investment Management LLC now owns 553,129 shares of the shipping service provider’s stock worth $159,777,000 after purchasing an additional 225,856 shares during the period. O Shaughnessy Asset Management LLC lifted its position in FedEx by 48.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 63,855 shares of the shipping service provider’s stock worth $18,445,000 after purchasing an additional 20,940 shares during the period. Finally, CenterBook Partners LP bought a new stake in FedEx during the fourth quarter worth about $534,000. Institutional investors own 84.47% of the company’s stock.

More FedEx News

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx pilots ratified a new labor contract, ending a long dispute and reducing uncertainty around one major operating issue for the company. FedEx pilots ratify new wage deal, union says
• Positive Sentiment: FedEx also updated its annual dividend after the FedEx Freight spin-off, reinforcing shareholder returns and signaling management confidence in cash generation. FedEx Updates Annual Dividend Following FedEx Freight Spin-Off
• Neutral Sentiment: Commentary from Jim Cramer and a Zacks value-stock note were supportive of FedEx’s long-term investment case, but they are not major fundamental catalysts on their own. Jim Cramer Says “I’m Proud That We Held on to Our FedEx Freight” Here’s Why FedEx (FDX) is a Strong Value Stock
• Neutral Sentiment: FedEx’s structural changes, including the Freight spin-off and an air-logistics partnership in Asia Pacific, may help the business over time but are not immediate stock-moving catalysts. FedEx Reshapes Freight And Asia Pacific Strategy As Valuation Gap Persists
• Negative Sentiment: Amazon’s expanded trucking and less-than-truckload service is sparking a selloff across transport stocks and creating fresh competitive pressure for FedEx and other logistics companies. Amazon’s Trucking Push Sparks New Slide in Transport Stocks
• Negative Sentiment: Old Dominion, Saia, and XPO fell sharply after Amazon opened its less-than-truckload service more broadly, highlighting investor concern that Amazon could intensify competition in freight markets relevant to FedEx. Amazon LTL expansion hits Old Dominion, Saia, and FedEx Freight stocks

Insider Activity at FedEx

In other news, EVP Kawal Preet sold 4,900 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $367.89, for a total value of $1,802,661.00. Following the completion of the transaction, the executive vice president owned 10,953 shares of the company’s stock, valued at $4,029,499.17. This represents a 30.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Tracy B. Brightman sold 16,959 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total value of $6,164,087.73. Following the completion of the transaction, the executive vice president directly owned 11,052 shares of the company’s stock, valued at $4,017,070.44. This represents a 60.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 48,104 shares of company stock worth $17,599,006 over the last three months. 0.53% of the stock is owned by insiders.

FedEx Stock Down 3.6%

FDX stock opened at $319.70 on Thursday. The stock has a market capitalization of $76.28 billion, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. FedEx Corporation has a 12 month low of $172.88 and a 12 month high of $341.14. The firm has a 50-day moving average price of $372.63 and a 200-day moving average price of $342.19.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, topping analysts’ consensus estimates of $4.12 by $1.13. The firm had revenue of $24 billion during the quarter, compared to analysts’ expectations of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.51 earnings per share. As a group, equities research analysts anticipate that FedEx Corporation will post 19.72 EPS for the current fiscal year.

FedEx Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd will be issued a $1.22 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. FedEx’s dividend payout ratio is 30.87%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Wall Street Zen raised shares of FedEx from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 6th. Raymond James Financial assumed coverage on shares of FedEx in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $180.00 price objective for the company. BNP Paribas Exane cut their price objective on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Finally, Wells Fargo & Company raised shares of FedEx from an “overweight” rating to an “overweight” rating in a report on Wednesday, May 27th. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $372.41.

About FedEx

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.