Corundum Group Inc. Purchases 1,894 Shares of FedEx Co. (NYSE:FDX)

Corundum Group Inc. increased its stake in shares of FedEx Co. (NYSE:FDX) by 49.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,694 shares of the shipping service provider’s stock after acquiring an additional 1,894 shares during the period. Corundum Group Inc.’s holdings in FedEx were worth $1,602,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in FDX. Fortitude Family Office LLC increased its position in shares of FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 52 shares during the period. Evermay Wealth Management LLC grew its position in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares during the last quarter. Peoples Financial Services CORP. bought a new stake in shares of FedEx during the fourth quarter worth about $28,000. City Holding Co. acquired a new position in FedEx in the 4th quarter valued at approximately $28,000. Finally, Highline Wealth Partners LLC bought a new position in FedEx during the 3rd quarter worth $31,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In related news, EVP John W. Dietrich purchased 1,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average cost of $273.98 per share, with a total value of $273,980.00. Following the purchase, the executive vice president now directly owns 9,067 shares in the company, valued at $2,484,176.66. This trade represents a 12.40 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the sale, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of recent analyst reports. UBS Group boosted their price objective on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Stephens decreased their target price on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. JPMorgan Chase & Co. lifted their price objective on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Citigroup boosted their target price on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus lifted their price objective on shares of FedEx from $321.00 to $368.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $325.61.

FedEx Stock Down 0.8 %

FDX stock opened at $275.11 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The firm’s fifty day moving average is $283.48 and its 200 day moving average is $283.94. The firm has a market cap of $66.26 billion, a PE ratio of 17.53, a P/E/G ratio of 1.12 and a beta of 1.20.

FedEx (NYSE:FDX) last released its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s revenue was down .7% on a year-over-year basis. During the same period last year, the company posted $3.99 EPS. On average, research analysts forecast that FedEx Co. will post 19.2 EPS for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were issued a $1.38 dividend. The ex-dividend date was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.01%. FedEx’s payout ratio is 35.18%.

About FedEx

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.