Crossmark Global Holdings Inc. Has $3.40 Million Position in FedEx Corporation $FDX

Key Points

• Crossmark Global Holdings increased its FedEx stake by 50.1% in the fourth quarter, holding 11,770 shares valued at about $3.4 million.
• Institutional ownership remains high, with hedge funds and other large investors owning 84.47% of FedEx shares, while several other funds also added to their positions.
• FedEx insiders sold shares recently, including two executive vice presidents, and analysts currently view the stock as a Moderate Buy with an average price target of $398.04.

Crossmark Global Holdings Inc. grew its stake in shares of FedEx Corporation (NYSE:FDX - Free Report) by 50.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 11,770 shares of the shipping service provider's stock after buying an additional 3,927 shares during the period. Crossmark Global Holdings Inc.'s holdings in FedEx were worth $3,400,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. New York State Teachers Retirement System increased its stake in FedEx by 2.3% in the third quarter. New York State Teachers Retirement System now owns 207,077 shares of the shipping service provider's stock valued at $48,831,000 after acquiring an additional 4,734 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in FedEx by 11.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,958 shares of the shipping service provider's stock valued at $8,243,000 after acquiring an additional 3,514 shares during the period. Savant Capital LLC increased its stake in FedEx by 32.5% in the third quarter. Savant Capital LLC now owns 40,019 shares of the shipping service provider's stock valued at $9,437,000 after acquiring an additional 9,806 shares during the period. National Pension Service increased its stake in FedEx by 3.9% in the third quarter. National Pension Service now owns 633,376 shares of the shipping service provider's stock valued at $149,356,000 after acquiring an additional 23,563 shares during the period. Finally, Diamond Hill Capital Management Inc. bought a new stake in FedEx in the third quarter valued at about $171,960,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Insider Activity

In other news, EVP Kawal Preet sold 4,900 shares of the company's stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the transaction, the executive vice president directly owned 10,953 shares in the company, valued at approximately $4,029,499.17. This represents a 30.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tracy B. Brightman sold 16,959 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the transaction, the executive vice president owned 11,052 shares in the company, valued at $4,017,070.44. The trade was a 60.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,104 shares of company stock valued at $17,599,006 over the last three months. 0.53% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. HSBC raised shares of FedEx from a "reduce" rating to a "hold" rating and set a $360.00 target price on the stock in a research note on Friday, March 20th. Wolfe Research lowered their target price on shares of FedEx from $427.00 to $423.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 7th. Argus upped their target price on shares of FedEx from $350.00 to $400.00 and gave the company a "buy" rating in a research note on Monday, April 6th. Rothschild & Co Redburn upped their target price on shares of FedEx from $317.00 to $371.00 and gave the company a "neutral" rating in a research note on Tuesday, February 24th. Finally, BMO Capital Markets upped their target price on shares of FedEx from $400.00 to $410.00 and gave the company a "market perform" rating in a research note on Friday, March 20th. Eighteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $398.04.

FedEx Price Performance

Shares of FedEx stock opened at $378.30 on Monday. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $90.27 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 1.44 and a beta of 1.29. FedEx Corporation has a 1-year low of $214.35 and a 1-year high of $404.03. The firm's 50-day moving average price is $370.10 and its two-hundred day moving average price is $323.04.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.12 by $1.13. The firm had revenue of $24 billion for the quarter, compared to analysts' expectations of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The company's quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.51 earnings per share. On average, equities analysts predict that FedEx Corporation will post 19.72 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 9th were paid a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, March 9th. FedEx's dividend payout ratio is currently 30.87%.

FedEx Profile

FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

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