Sachetta LLC Takes $32,000 Position in FedEx Co. (NYSE:FDX)

Sachetta LLC purchased a new position in shares of FedEx Co. (NYSE:FDX) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 127 shares of the shipping service provider’s stock, valued at approximately $32,000.

Several other hedge funds have also added to or reduced their stakes in the company. Sentry LLC bought a new position in shares of FedEx in the 4th quarter valued at $1,811,748,000. Norges Bank bought a new position in shares of FedEx in the 4th quarter valued at $700,291,000. Mizuho Markets Americas LLC bought a new position in shares of FedEx in the 3rd quarter valued at $496,611,000. FMR LLC increased its stake in shares of FedEx by 29.1% in the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after purchasing an additional 916,555 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of FedEx by 33,890.5% in the 4th quarter. International Assets Investment Management LLC now owns 651,597 shares of the shipping service provider’s stock valued at $166,972,000 after purchasing an additional 649,680 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Performance

Shares of FedEx stock opened at $252.06 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The company has a market cap of $62.03 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 1.05 and a beta of 1.23. The business has a 50 day moving average price of $267.06 and a 200-day moving average price of $256.71. FedEx Co. has a 52 week low of $213.80 and a 52 week high of $291.27.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. The company had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. FedEx’s revenue was down 2.1% on a year-over-year basis. During the same period last year, the business posted $3.41 earnings per share. Equities analysts anticipate that FedEx Co. will post 17.69 earnings per share for the current fiscal year.

FedEx declared that its Board of Directors has initiated a share repurchase plan on Thursday, March 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. TD Cowen boosted their price objective on FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Bank of America reduced their price objective on FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. StockNews.com lowered FedEx from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 11th. Oppenheimer restated a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. Finally, UBS Group cut their target price on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $301.07.

Insider Activity at FedEx

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the completion of the transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction on Monday, April 8th. The shares were sold at an average price of $275.69, for a total value of $703,009.50. Following the sale, the executive vice president now directly owns 6,294 shares of the company’s stock, valued at approximately $1,735,192.86. The disclosure for this sale can be found here. Over the last three months, insiders sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is owned by insiders.

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.