FedEx Co. (NYSE:FDX) Shares Purchased by Corundum Group Inc.

Corundum Group Inc. boosted its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 49.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,694 shares of the shipping service provider's stock after acquiring an additional 1,894 shares during the quarter. Corundum Group Inc.'s holdings in FedEx were worth $1,602,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of FDX. Brighton Jones LLC boosted its position in shares of FedEx by 4.7% during the 2nd quarter. Brighton Jones LLC now owns 1,685 shares of the shipping service provider's stock worth $505,000 after purchasing an additional 75 shares in the last quarter. AE Wealth Management LLC lifted its position in shares of FedEx by 49.0% during the 2nd quarter. AE Wealth Management LLC now owns 2,881 shares of the shipping service provider's stock valued at $864,000 after acquiring an additional 948 shares during the period. Summit Trail Advisors LLC boosted its stake in shares of FedEx by 99.6% during the 2nd quarter. Summit Trail Advisors LLC now owns 4,594 shares of the shipping service provider's stock worth $1,384,000 after acquiring an additional 2,292 shares in the last quarter. Legacy Financial Advisors Inc. grew its holdings in shares of FedEx by 5.1% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 1,379 shares of the shipping service provider's stock worth $413,000 after acquiring an additional 67 shares during the period. Finally, ProShare Advisors LLC raised its holdings in FedEx by 6.2% during the second quarter. ProShare Advisors LLC now owns 38,209 shares of the shipping service provider's stock worth $11,457,000 after purchasing an additional 2,230 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Citigroup raised their price target on FedEx from $301.00 to $331.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Barclays raised their target price on shares of FedEx from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. BMO Capital Markets increased their price target on shares of FedEx from $300.00 to $330.00 and gave the company a "market perform" rating in a research report on Friday, December 20th. Bank of America lifted their price objective on FedEx from $325.00 to $348.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. Finally, UBS Group increased their target price on FedEx from $311.00 to $350.00 and gave the company a "buy" rating in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, FedEx has an average rating of "Moderate Buy" and a consensus price target of $325.61.

FedEx Stock Down 0.8 %

Shares of FDX stock traded down $2.26 on Monday, hitting $275.11. The stock had a trading volume of 1,577,458 shares, compared to its average volume of 1,877,061. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The firm has a market capitalization of $66.26 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 1.12 and a beta of 1.20. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The stock's 50 day moving average is $283.48 and its 200-day moving average is $283.87.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts' consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx's quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the firm earned $3.99 EPS. As a group, research analysts expect that FedEx Co. will post 19.2 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were paid a dividend of $1.38 per share. The ex-dividend date was Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 2.01%. FedEx's dividend payout ratio (DPR) is 35.18%.

Insider Buying and Selling at FedEx

In other news, EVP John W. Dietrich acquired 1,000 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The shares were purchased at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard W. Smith sold 2,576 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the sale, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by insiders.

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.