As Fedex Corp (FDX) Share Price Declined, Cornerstone Investment Partners LLC Has Raised by $4.21 Million Its Holding

April 17, 2018 - By Peter Erickson

FedEx Corporation (NYSE:FDX) LogoInvestors sentiment increased to 1.21 in Q4 2017. Its up 0.14, from 1.07 in 2017Q3. It is positive, as 45 investors sold FDX shares while 366 reduced holdings. 137 funds opened positions while 361 raised stakes. 193.75 million shares or 3.04% less from 199.84 million shares in 2017Q3 were reported. Amica Retiree Med Tru accumulated 615 shares. Credit Suisse Ag invested in 407,273 shares or 0.09% of the stock. British Columbia Invest Mngmt Corp invested in 114,138 shares. First Republic Invest Mngmt invested 0.13% in FedEx Corporation (NYSE:FDX). Hitchwood Capital Mngmt LP invested in 525,000 shares or 4.91% of the stock. Northern Tru, Illinois-based fund reported 2.92M shares. Schnieders Cap Management Lc accumulated 3,599 shares. Rampart Invest Mgmt Ltd Limited Liability Company has 0.29% invested in FedEx Corporation (NYSE:FDX) for 3,023 shares. Highline Capital Ltd Partnership holds 2.55% of its portfolio in FedEx Corporation (NYSE:FDX) for 309,000 shares. Afam Capital Inc stated it has 30,260 shares or 0.83% of all its holdings. Eastern Savings Bank reported 65,204 shares or 1.09% of all its holdings. Tradition Ltd Liability Corporation stated it has 18,448 shares. Wedgewood Pa has invested 0.55% in FedEx Corporation (NYSE:FDX). Ativo Mngmt Ltd Com holds 0.7% or 10,561 shares. Daniel Devine And Co reported 8,510 shares.

Since October 26, 2017, it had 1 insider purchase, and 3 selling transactions for $15.22 million activity. 3,016 FedEx Corporation (NYSE:FDX) shares with value of $802,405 were sold by STEINER DAVID P. 46,555 shares valued at $11.89 million were sold by BRONCZEK DAVID J on Tuesday, January 2. $19,837 worth of FedEx Corporation (NYSE:FDX) was bought by SCHWAB SUSAN C on Tuesday, February 6.

Cornerstone Investment Partners Llc increased its stake in Fedex Corp (FDX) by 2.52% based on its latest 2017Q4 regulatory filing with the SEC. Cornerstone Investment Partners Llc bought 16,918 shares as the company’s stock declined 6.15% with the market. The institutional investor held 687,170 shares of the air freight and delivery services company at the end of 2017Q4, valued at $171.48M, up from 670,252 at the end of the previous reported quarter. Cornerstone Investment Partners Llc who had been investing in Fedex Corp for a number of months, seems to be bullish on the $67.07 billion market cap company. The stock increased 0.39% or $0.98 during the last trading session, reaching $251.01. About 617,361 shares traded. FedEx Corporation (NYSE:FDX) has risen 25.45% since April 17, 2017 and is uptrending. It has outperformed by 13.90% the S&P500.

Cornerstone Investment Partners Llc, which manages about $8.61B and $4.60 billion US Long portfolio, decreased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 42,628 shares to 802,374 shares, valued at $152.36 million in 2017Q4, according to the filing. It also reduced its holding in Stanley Black & Decker Inc. (NYSE:SWK) by 59,046 shares in the quarter, leaving it with 579,924 shares, and cut its stake in State Street Corp (NYSE:STT).

FedEx Corporation (NYSE:FDX) Ratings Coverage

Among 17 analysts covering FedEx (NYSE:FDX), 16 have Buy rating, 0 Sell and 1 Hold. Therefore 94% are positive. FedEx had 30 analyst reports since October 20, 2017 according to SRatingsIntel. The firm earned “Buy” rating on Wednesday, December 20 by Bank of America. UBS upgraded the stock to “Buy” rating in Friday, January 5 report. Credit Suisse maintained it with “Buy” rating and $283.0 target in Wednesday, December 20 report. The stock has “Outperform” rating by Robert W. Baird on Thursday, March 15. The stock has “Buy” rating by BMO Capital Markets on Tuesday, December 19. The firm has “Buy” rating by Cowen & Co given on Monday, December 18. Stifel Nicolaus maintained FedEx Corporation (NYSE:FDX) rating on Wednesday, December 20. Stifel Nicolaus has “Hold” rating and $272.0 target. Bernstein upgraded the shares of FDX in report on Friday, February 23 to “Outperform” rating. The company was maintained on Thursday, November 30 by BMO Capital Markets. The stock has “Buy” rating by Robert W. Baird on Tuesday, October 31.

FedEx Corporation (NYSE:FDX) Institutional Positions Chart

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