Mirae Asset Global Investments Co. Ltd. Grows Position in FedEx Co. (NYSE:FDX)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 30.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,364 shares of the shipping service provider's stock after purchasing an additional 3,330 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in FedEx were worth $3,847,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. SeaCrest Wealth Management LLC boosted its stake in FedEx by 0.6% during the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider's stock worth $1,683,000 after buying an additional 34 shares during the period. LRI Investments LLC boosted its position in shares of FedEx by 8.6% during the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider's stock valued at $137,000 after buying an additional 36 shares during the period. Ascent Wealth Partners LLC grew its stake in shares of FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider's stock valued at $2,306,000 after buying an additional 36 shares during the last quarter. Detalus Advisors LLC raised its holdings in shares of FedEx by 2.4% in the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider's stock worth $480,000 after buying an additional 37 shares during the period. Finally, Sachetta LLC lifted its stake in shares of FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider's stock worth $49,000 after acquiring an additional 37 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FDX has been the topic of a number of recent analyst reports. The Goldman Sachs Group reduced their target price on FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. UBS Group decreased their price objective on shares of FedEx from $333.00 to $311.00 and set a "buy" rating for the company in a report on Friday, September 20th. Loop Capital dropped their target price on shares of FedEx from $317.00 to $288.00 and set a "hold" rating on the stock in a research note on Monday, September 23rd. StockNews.com raised shares of FedEx from a "hold" rating to a "buy" rating in a research note on Monday, October 21st. Finally, BMO Capital Markets dropped their price objective on FedEx from $325.00 to $300.00 and set a "market perform" rating on the stock in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat, FedEx currently has an average rating of "Moderate Buy" and an average target price of $314.17.

FedEx Stock Performance

Shares of NYSE FDX traded up $0.56 during mid-day trading on Wednesday, hitting $275.60. The stock had a trading volume of 605,988 shares, compared to its average volume of 1,822,426. The company has a 50 day moving average of $278.30 and a two-hundred day moving average of $274.91. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The firm has a market cap of $67.34 billion, a PE ratio of 17.09, a PEG ratio of 1.08 and a beta of 1.17.

FedEx (NYSE:FDX - Get Free Report) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts' consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same period last year, the firm earned $4.55 EPS. The company's revenue for the quarter was down .5% compared to the same quarter last year. Research analysts predict that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a dividend of $1.38 per share. The ex-dividend date was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.00%. FedEx's payout ratio is currently 34.05%.

FedEx 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.