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

Key Points

• Corundum Group Inc. reduced its holdings in FedEx Corporation by 45.2%, selling 1,681 shares and bringing its total ownership to 2,041 shares valued at $464,000.
• FedEx reported $3.83 earnings per share for its latest quarter, exceeding expectations and showing a 3.1% increase in revenue year-over-year.
• The company declared a quarterly dividend of $1.45 per share, representing a 2.4% dividend yield and a payout ratio of 33.86%.

Corundum Group Inc. lowered its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 45.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,041 shares of the shipping service provider's stock after selling 1,681 shares during the period. Corundum Group Inc.'s holdings in FedEx were worth $464,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in FDX. Brighton Jones LLC lifted its stake in shares of FedEx by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock valued at $514,000 after acquiring an additional 207 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of FedEx in the 1st quarter valued at about $147,000. Merit Financial Group LLC lifted its stake in shares of FedEx by 54.7% in the 1st quarter. Merit Financial Group LLC now owns 4,374 shares of the shipping service provider's stock valued at $1,066,000 after acquiring an additional 1,546 shares during the last quarter. RFG Advisory LLC lifted its stake in shares of FedEx by 26.8% in the 1st quarter. RFG Advisory LLC now owns 1,312 shares of the shipping service provider's stock valued at $320,000 after acquiring an additional 277 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in shares of FedEx by 19.3% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 4,992 shares of the shipping service provider's stock valued at $1,217,000 after acquiring an additional 809 shares during the last quarter. Institutional investors own 84.47% of the company's stock.

FedEx Stock Up 0.7%

FDX stock opened at $244.14 on Friday. FedEx Corporation has a fifty-two week low of $194.29 and a fifty-two week high of $308.53. The business's 50 day moving average price is $229.77 and its two-hundred day moving average price is $226.00. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.21 and a current ratio of 1.25. The company has a market capitalization of $57.61 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 1.34 and a beta of 1.28.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Thursday, September 18th. The shipping service provider reported $3.83 earnings per share 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 firm had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.74 billion. During the same quarter in the prior year, the business earned $3.60 EPS. The business's revenue for the quarter was up 3.1% on a year-over-year basis. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. As a group, analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have commented on FDX. Wells Fargo & Company upped their price target on FedEx from $235.00 to $250.00 and gave the company an "equal weight" rating in a research report on Friday, September 19th. Cowen reaffirmed a "buy" rating on shares of FedEx in a research report on Wednesday, June 25th. Dbs Bank raised FedEx from a "hold" rating to a "moderate buy" rating in a research report on Thursday, August 21st. Susquehanna upped their price target on FedEx from $285.00 to $300.00 and gave the company a "positive" rating in a research report on Friday, September 19th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of FedEx in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, FedEx currently has an average rating of "Moderate Buy" and a consensus price target of $271.67.

Insider Buying and Selling

In related news, Director Paul S. Walsh sold 3,610 shares of the company's stock in a transaction that occurred 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 sale, the director owned 15,513 shares in the company, valued at $3,696,592.77. This represents a 18.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director R Brad Martin sold 2,123 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $241.75, for a total value of $513,235.25. Following the completion of the sale, the director owned 8,935 shares in the company, valued at $2,160,036.25. The trade was a 19.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,343 shares of company stock worth $2,228,816 in the last 90 days. Insiders own 0.53% of the company's stock.

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.

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