Miracle Mile Advisors LLC Boosts Holdings in FedEx Co. (NYSE:FDX)

Miracle Mile Advisors LLC increased its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 39.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,301 shares of the shipping service provider's stock after purchasing an additional 8,014 shares during the quarter. Miracle Mile Advisors LLC's holdings in FedEx were worth $7,962,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in FedEx by 473.8% during the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider's stock worth $2,147,540,000 after buying an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider's stock valued at $674,336,000 after buying an additional 578,350 shares during the period. Franklin Resources Inc. boosted its position in shares of FedEx by 8.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider's stock worth $1,042,050,000 after purchasing an additional 314,380 shares in the last quarter. World Investment Advisors LLC boosted its holdings in FedEx by 2,163.7% during the third quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider's stock worth $52,667,000 after buying an additional 183,940 shares in the last quarter. Finally, Ceredex Value Advisors LLC grew its holdings in shares of FedEx by 77.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider's stock worth $101,022,000 after acquiring an additional 161,022 shares during the period. Institutional investors and hedge funds own 84.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. 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. Loop Capital raised shares of FedEx from a "hold" rating to a "buy" rating and increased their target price for the stock from $288.00 to $365.00 in a research report on Friday, December 20th. TD Cowen upped their target price on FedEx from $328.00 to $337.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. Sanford C. Bernstein lowered FedEx from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Finally, Stephens cut their price objective on FedEx from $350.00 to $345.00 and set an "overweight" rating on the stock in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $325.61.

FedEx Stock Performance

Shares of FDX stock traded up $3.73 on Monday, hitting $274.46. The company's stock had a trading volume of 1,367,542 shares, compared to its average volume of 1,490,883. The stock's 50 day moving average is $283.78 and its 200-day moving average is $284.61. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The company has a market capitalization of $66.10 billion, a PE ratio of 16.93, a PEG ratio of 1.18 and a beta of 1.20. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion for the quarter, compared to analysts' expectations of $22.14 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm's quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the firm posted $3.99 earnings per share. Equities research analysts expect that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were given a dividend of $1.38 per share. 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 dividend payout ratio (DPR) is 35.18%.

Insider Transactions at FedEx

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 111,886 shares in the company, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Amy B. Lane purchased 333 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the transaction, the director now directly owns 333 shares in the company, valued at $91,927.98. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by corporate 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.

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