Corundum Group Inc. Sells 1,681 Shares of FedEx Corporation $FDX

Corundum Group Inc. cut its holdings in FedEx Corporation (NYSE:FDX) by 45.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,041 shares of the shipping service provider’s stock after selling 1,681 shares during the quarter. Corundum Group Inc.’s holdings in FedEx were worth $464,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Abound Financial LLC bought a new position in FedEx in the 1st quarter valued at approximately $38,000. WPG Advisers LLC bought a new position in FedEx in the 1st quarter valued at approximately $43,000. Cary Street Partners Investment Advisory LLC lifted its position in FedEx by 60.7% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 188 shares of the shipping service provider’s stock valued at $46,000 after acquiring an additional 71 shares in the last quarter. SOA Wealth Advisors LLC. lifted its position in FedEx by 60.6% in the 1st quarter. SOA Wealth Advisors LLC. now owns 249 shares of the shipping service provider’s stock valued at $61,000 after acquiring an additional 94 shares in the last quarter. Finally, Alpine Bank Wealth Management bought a new position in FedEx in the 1st quarter valued at approximately $65,000. 84.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other FedEx news, Director Marvin R. Ellison sold 3,610 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $236.94, for a total value of $855,353.40. Following the completion of the sale, the director owned 7,720 shares in the company, valued at approximately $1,829,176.80. This represents a 31.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul S. Walsh sold 3,610 shares of the stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total value of $860,226.90. Following the completion of the sale, the director owned 15,513 shares of the company’s stock, valued at $3,696,592.77. The trade was a 18.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,343 shares of company stock worth $2,228,816. Corporate insiders own 0.53% of the company’s stock.

FedEx Price Performance

Shares of FedEx stock opened at $244.14 on Friday. FedEx Corporation has a one year low of $194.29 and a one year high of $308.53. The stock’s fifty day moving average is $229.77 and its 200 day moving average is $226.00. The stock has a market cap of $57.61 billion, a P/E ratio of 14.25, a P/E/G ratio of 1.34 and a beta of 1.28. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.21 and a current ratio of 1.25.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 18th. The shipping service provider reported $3.83 EPS for the quarter, topping analysts’ consensus estimates of $3.71 by $0.12. FedEx had a return on equity of 16.33% and a net margin of 4.65%.The company had revenue of $22.20 billion for the quarter, compared to analysts’ expectations of $21.74 billion. During the same period last year, the firm earned $3.60 EPS. FedEx’s revenue for the quarter was up 3.1% compared to the same quarter last year. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. Sell-side analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 8th were paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Monday, September 8th. FedEx’s dividend payout ratio is presently 33.86%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FDX. Cowen reissued a “buy” rating on shares of FedEx in a report on Wednesday, June 25th. Truist Financial reissued a “buy” rating and set a $275.00 price target on shares of FedEx in a report on Wednesday, June 25th. Weiss Ratings reissued a “hold (c)” rating on shares of FedEx in a report on Saturday, September 27th. Dbs Bank raised FedEx from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 21st. Finally, Wells Fargo & Company increased their price target on FedEx from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $271.67.

FedEx Company Profile

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.