Mirae Asset Global Investments Co. Ltd. Makes New $17.74 Million Investment in FedEx Corporation $FDX

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of FedEx Corporation (NYSE:FDX) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 62,238 shares of the shipping service provider’s stock, valued at approximately $17,743,000.

Several other institutional investors also recently bought and sold shares of the stock. Aviance Capital Partners LLC grew its position in shares of FedEx by 11.5% during the third quarter. Aviance Capital Partners LLC now owns 3,439 shares of the shipping service provider’s stock valued at $981,000 after purchasing an additional 354 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of FedEx by 18.0% in the third quarter. ProShare Advisors LLC now owns 40,049 shares of the shipping service provider’s stock worth $11,418,000 after purchasing an additional 6,120 shares during the last quarter. Vise Technologies Inc. increased its holdings in shares of FedEx by 19.8% in the third quarter. Vise Technologies Inc. now owns 15,006 shares of the shipping service provider’s stock worth $4,278,000 after purchasing an additional 2,485 shares during the last quarter. Moss Adams Wealth Advisors LLC lifted its position in shares of FedEx by 13.8% in the third quarter. Moss Adams Wealth Advisors LLC now owns 1,917 shares of the shipping service provider’s stock worth $549,000 after buying an additional 233 shares in the last quarter. Finally, Summit Global Investments purchased a new stake in shares of FedEx in the third quarter worth about $367,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Performance

FedEx stock opened at $318.03 on Wednesday. The company’s 50-day moving average price is $303.85 and its 200-day moving average price is $337.21. The company has a quick ratio of 1.29, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The company has a market cap of $74.48 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 1.28 and a beta of 1.27. FedEx Corporation has a twelve month low of $200.20 and a twelve month high of $345.36.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Wednesday, October 28th. The shipping service provider reported $3.74 EPS for the quarter, beating analysts’ consensus estimates of $3.34 by $0.40. FedEx had a net margin of 4.09% and a return on equity of 15.53%. The firm had revenue of $22.93 billion during the quarter, compared to the consensus estimate of $22.73 billion. During the same quarter last year, the firm earned $3.83 EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities research analysts forecast that FedEx Corporation will post 18.29 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 14th were given a dividend of $1.22 per share. The ex-dividend date was Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. FedEx’s dividend payout ratio is 30.01%.

Analyst Ratings Changes

A number of equities analysts recently commented on FDX shares. Evercore increased their price target on FedEx from $350.00 to $351.00 in a research note on Monday, September 28th. JPMorgan Chase & Co. lifted their price objective on FedEx from $399.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday, October 29th. Citizens Jmp assumed coverage on FedEx in a report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 price objective on the stock. Sanford C. Bernstein set a $377.00 price objective on FedEx in a report on Monday, October 26th. Finally, BNP Paribas Exane increased their target price on FedEx from $269.80 to $300.00 and gave the company a “neutral” rating in a research report on Wednesday, September 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus price target of $359.16.

Insider Buying and Selling

In other news, EVP Tracy B. Brightman sold 26,611 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $316.68, for a total transaction of $8,427,171.48. Following the transaction, the executive vice president owned 12,245 shares of the company’s stock, valued at approximately $3,877,746.60. The trade was a 68.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gina F. Adams sold 3,014 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $317.06, for a total value of $955,618.84. Following the transaction, the executive vice president directly owned 9,656 shares in the company, valued at approximately $3,061,531.36. This represents a 23.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.65% of the company’s stock.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, customs brokerage, logistics and supply chain services for businesses, governments and consumers.

The company’s services include domestic and international package delivery, less-than-truckload freight transportation, warehousing, fulfillment, supply chain management and specialized logistics solutions.