62,238 Shares of FedEx Corporation $FDX Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of FedEx Corporation (NYSE:FDX) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 62,238 shares of the shipping service provider’s stock, valued at approximately $17,743,000.

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

FedEx Price Performance

Shares of FDX stock opened at $318.03 on Wednesday. The company has a market capitalization of $74.48 billion, a P/E ratio of 19.56, a P/E/G ratio of 1.28 and a beta of 1.27. The company’s 50-day simple moving average is $303.85 and its two-hundred day simple moving average is $337.21. FedEx Corporation has a one year low of $200.20 and a one year high of $345.36. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.29.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Wednesday, October 28th. The shipping service provider reported $3.74 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $22.73 billion. During the same quarter in the previous year, the business posted $3.83 EPS. FedEx’s revenue was up 12.3% on a year-over-year basis. As a group, equities analysts anticipate that FedEx Corporation will post 18.29 EPS for the current year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 14th were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, September 14th. FedEx’s payout ratio is currently 30.01%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FDX. Raymond James Financial set a $162.00 price target on FedEx in a research note on Tuesday. Sanford C. Bernstein set a $377.00 price objective on FedEx in a research report on Monday, October 26th. UBS Group reaffirmed a “hold” rating on shares of FedEx in a research report on Friday. Citigroup increased their target price on FedEx from $373.00 to $374.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Wall Street Zen upgraded FedEx to a “hold” rating in a research report on Saturday, August 8th. One equities research 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 issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $359.16.

Insiders Place Their Bets

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

FedEx 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.