Southeast Asset Advisors Inc. Purchases 1,393 Shares of FedEx Co. (NYSE:FDX)

Southeast Asset Advisors Inc. lifted its position in shares of FedEx Co. (NYSE:FDX) by 20.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,083 shares of the shipping service provider’s stock after purchasing an additional 1,393 shares during the quarter. Southeast Asset Advisors Inc.’s holdings in FedEx were worth $2,045,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Western Wealth Management LLC boosted its holdings in FedEx by 10.0% in the fourth quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock worth $925,000 after acquiring an additional 333 shares in the last quarter. Trust Point Inc. purchased a new position in shares of FedEx in the fourth quarter worth $282,000. Planned Solutions Inc. purchased a new position in shares of FedEx in the fourth quarter worth $32,000. Skba Capital Management LLC raised its stake in shares of FedEx by 0.3% in the third quarter. Skba Capital Management LLC now owns 39,320 shares of the shipping service provider’s stock worth $10,417,000 after purchasing an additional 100 shares during the last quarter. Finally, EFG Asset Management North America Corp. raised its stake in shares of FedEx by 173.2% in the fourth quarter. EFG Asset Management North America Corp. now owns 7,620 shares of the shipping service provider’s stock worth $1,928,000 after purchasing an additional 4,831 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction that occurred 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 sale, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other FedEx news, VP Guy M. Erwin II sold 2,749 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total transaction of $794,763.39. Following the transaction, the vice president now directly owns 486 shares in the company, valued at approximately $140,507.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The disclosure for this sale can be found here. Insiders sold 136,668 shares of company stock valued at $37,758,773 in the last ninety days. Insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FDX shares. Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. BMO Capital Markets upped their price objective on FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. Robert W. Baird upped their price objective on FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. reduced their price objective on FedEx from $301.00 to $296.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. Finally, Bank of America reduced their price objective on FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $300.74.

FedEx Price Performance

FedEx stock traded up $0.47 during midday trading on Wednesday, reaching $246.42. 182,532 shares of the stock traded hands, compared to its average volume of 1,828,517. The stock’s fifty day moving average is $263.79 and its 200-day moving average is $256.73. FedEx Co. has a 12 month low of $218.55 and a 12 month high of $291.27. The stock has a market cap of $60.64 billion, a P/E ratio of 14.18, a PEG ratio of 0.90 and a beta of 1.16. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76.

FedEx (NYSE:FDX) last announced 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. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.95 billion. During the same period in the prior year, the company earned $3.41 earnings per share. The firm’s revenue was down 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that FedEx Co. will post 17.71 EPS for the current year.

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

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.