Mirae Asset Global Investments Co. Ltd. Has $7.15 Million Stock Holdings in FedEx Corporation $FDX

Key Points

• Mirae Asset Global Investments increased its stake in FedEx by 37.9%, owning 31,444 shares worth approximately $7.15 million as of its latest SEC filing.
• FedEx reported better-than-expected quarterly earnings with $3.83 EPS and revenue of $22.20 billion, surpassing analyst predictions.
• Analysts have set new price targets for FedEx, with Goldman Sachs lowering their target to $276 while UBS increased theirs to $314, reflecting a mix of ratings from "Strong Buy" to "Sell".

Mirae Asset Global Investments Co. Ltd. raised its stake in FedEx Corporation (NYSE:FDX - Free Report) by 37.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,444 shares of the shipping service provider's stock after purchasing an additional 8,650 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in FedEx were worth $7,148,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Abound Financial LLC bought a new position in FedEx in the first quarter worth approximately $38,000. WPG Advisers LLC acquired a new position in shares of FedEx during the first quarter worth approximately $43,000. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of FedEx by 60.7% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 188 shares of the shipping service provider's stock worth $46,000 after purchasing an additional 71 shares in the last quarter. SOA Wealth Advisors LLC. grew its position in FedEx by 60.6% in the 1st quarter. SOA Wealth Advisors LLC. now owns 249 shares of the shipping service provider's stock valued at $61,000 after purchasing an additional 94 shares during the period. Finally, Alpine Bank Wealth Management bought a new stake in FedEx during the 1st quarter valued at $65,000. Institutional investors own 84.47% of the company's stock.

Insider Buying and Selling

In related news, Director Marvin R. Ellison sold 3,610 shares of FedEx stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $236.94, for a total value of $855,353.40. Following the completion of the sale, the director owned 7,720 shares of the company's stock, valued at approximately $1,829,176.80. This trade represents a 31.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul S. Walsh sold 3,610 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total value of $860,226.90. Following the completion of the sale, the director owned 15,513 shares in the company, valued at $3,696,592.77. This represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

FedEx Stock Up 0.7%

Shares of NYSE:FDX opened at $244.14 on Monday. FedEx Corporation has a 1 year low of $194.29 and a 1 year high of $308.53. The company has a market capitalization of $57.61 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 1.36 and a beta of 1.28. The business has a fifty day moving average price of $229.77 and a two-hundred day moving average price of $225.71. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.25 and a quick ratio of 1.21.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Thursday, September 18th. The shipping service provider reported $3.83 earnings per share for the quarter, topping analysts' consensus estimates of $3.71 by $0.12. The company had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.74 billion. FedEx had a net margin of 4.65% and a return on equity of 16.33%. The firm's quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.60 EPS. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. Analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 8th were paid a dividend of $1.45 per share. The ex-dividend date was Monday, September 8th. This represents a $5.80 annualized dividend and a dividend yield of 2.4%. FedEx's dividend payout ratio (DPR) is presently 33.86%.

Analysts Set New Price Targets

A number of research firms have weighed in on FDX. The Goldman Sachs Group dropped their price objective on shares of FedEx from $290.00 to $276.00 and set a "buy" rating on the stock in a research note on Friday, September 12th. Wolfe Research lifted their price target on FedEx from $244.00 to $254.00 and gave the company an "outperform" rating in a research note on Friday, September 19th. Susquehanna increased their price objective on FedEx from $285.00 to $300.00 and gave the stock a "positive" rating in a research note on Friday, September 19th. UBS Group lifted their target price on FedEx from $293.00 to $314.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Finally, BNP Paribas Exane upgraded FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 price target for the company in a report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $271.67.

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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