Corundum Group Inc. Has $907,000 Stock Position in FedEx Corporation (NYSE:FDX)

Corundum Group Inc. cut its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 34.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,722 shares of the shipping service provider's stock after selling 1,972 shares during the period. Corundum Group Inc.'s holdings in FedEx were worth $907,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FDX. Regal Investment Advisors LLC lifted its holdings in shares of FedEx by 2.4% in the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider's stock valued at $451,000 after purchasing an additional 38 shares during the last quarter. Aviso Financial Inc. boosted its holdings in FedEx by 1.2% in the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock valued at $957,000 after purchasing an additional 40 shares in the last quarter. Garner Asset Management Corp grew its holdings in FedEx by 0.7% during the fourth quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider's stock worth $1,659,000 after acquiring an additional 41 shares during the period. Curi RMB Capital LLC increased its holdings in shares of FedEx by 1.3% in the 4th quarter. Curi RMB Capital LLC now owns 3,615 shares of the shipping service provider's stock valued at $1,017,000 after purchasing an additional 47 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of FedEx by 1.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,664 shares of the shipping service provider's stock valued at $749,000 after acquiring an additional 50 shares during the period. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Price Performance

FedEx stock traded down $1.01 during trading hours on Thursday, hitting $220.99. 4,708,661 shares of the stock were exchanged, compared to its average volume of 1,848,012. FedEx Corporation has a 12 month low of $194.30 and a 12 month high of $313.84. The business's 50-day moving average is $219.48 and its two-hundred day moving average is $243.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.19 and a current ratio of 1.19. The stock has a market capitalization of $52.95 billion, a P/E ratio of 13.09, a P/E/G ratio of 1.13 and a beta of 1.35.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, beating analysts' consensus estimates of $5.98 by $0.09. The firm had revenue of $22.20 billion during the quarter, compared to analysts' expectations of $21.86 billion. FedEx had a return on equity of 16.34% and a net margin of 4.65%. During the same period last year, the firm posted $5.41 EPS. Equities research analysts expect that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be issued a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.62%. This is a boost from FedEx's previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Monday, June 23rd. FedEx's payout ratio is currently 36.39%.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of recent research reports. TD Cowen reduced their target price on shares of FedEx from $310.00 to $269.00 and set a "buy" rating on the stock in a report on Wednesday. Raymond James Financial reissued an "outperform" rating and issued a $260.00 target price (down previously from $275.00) on shares of FedEx in a report on Wednesday. Oppenheimer reaffirmed a "market perform" rating on shares of FedEx in a research note on Friday, March 21st. Loop Capital cut shares of FedEx from a "hold" rating to a "sell" rating and decreased their target price for the stock from $283.00 to $221.00 in a report on Friday, March 21st. Finally, Bank of America cut their price target on FedEx from $270.00 to $245.00 and set a "buy" rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $285.17.

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.