MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Position in FedEx Co. (NYSE:FDX)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in FedEx Co. (NYSE:FDX) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,257 shares of the shipping service provider’s stock after purchasing an additional 919 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in FedEx were worth $6,543,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Park Avenue Securities LLC increased its stake in shares of FedEx by 13.8% during the 4th quarter. Park Avenue Securities LLC now owns 5,741 shares of the shipping service provider’s stock worth $1,615,000 after purchasing an additional 698 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of FedEx by 8.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 4,183 shares of the shipping service provider’s stock worth $1,177,000 after purchasing an additional 334 shares in the last quarter. Ritholtz Wealth Management purchased a new position in shares of FedEx during the 4th quarter worth approximately $249,000. Wedge Capital Management L L P NC increased its stake in shares of FedEx by 11.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 34,836 shares of the shipping service provider’s stock worth $9,800,000 after purchasing an additional 3,697 shares in the last quarter. Finally, Merit Financial Group LLC increased its stake in shares of FedEx by 13.8% during the 4th quarter. Merit Financial Group LLC now owns 2,828 shares of the shipping service provider’s stock worth $796,000 after purchasing an additional 344 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Activity at FedEx

In related news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 8.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FDX. TD Cowen dropped their price objective on shares of FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Barclays dropped their price objective on shares of FedEx from $365.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Bank of America dropped their price objective on shares of FedEx from $272.00 to $270.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. UBS Group decreased their target price on shares of FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a research report on Friday, March 7th. They set a “buy” rating and a $337.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $297.63.

FedEx Stock Performance

NYSE:FDX opened at $229.34 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $54.95 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.11 and a beta of 1.36. The firm’s fifty day simple moving average is $222.96 and its 200 day simple moving average is $256.54. FedEx Co. has a twelve month low of $194.30 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.86 EPS. As a group, equities research analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Company 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.