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

Crossmark Global Holdings Inc. boosted its holdings in FedEx Corporation (NYSE:FDX) by 50.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,770 shares of the shipping service provider’s stock after acquiring an additional 3,927 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in FedEx were worth $3,400,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of FDX. Vanguard Group Inc. lifted its holdings in FedEx by 13.2% in the third quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock valued at $5,527,870,000 after buying an additional 2,741,723 shares during the period. Boston Partners acquired a new stake in FedEx in the third quarter worth $468,195,000. Dodge & Cox raised its holdings in FedEx by 12.0% in the third quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock worth $3,826,055,000 after purchasing an additional 1,742,666 shares during the period. AQR Capital Management LLC raised its holdings in FedEx by 169.2% in the third quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock worth $638,203,000 after purchasing an additional 1,718,278 shares during the period. Finally, Diamond Hill Capital Management Inc. acquired a new stake in FedEx in the third quarter worth $171,960,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Down 0.1%

FedEx stock opened at $378.30 on Monday. The company has a fifty day simple moving average of $370.10 and a 200 day simple moving average of $323.04. FedEx Corporation has a 1-year low of $214.35 and a 1-year high of $404.03. The company has a market cap of $90.27 billion, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 1.44 and a beta of 1.29. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, beating analysts’ consensus estimates of $4.12 by $1.13. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The company had revenue of $24 billion during the quarter, compared to the consensus estimate of $23.44 billion. During the same quarter last year, the firm posted $4.51 EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. Research analysts anticipate 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. Stockholders of record on Monday, March 9th were given a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, March 9th. FedEx’s dividend payout ratio (DPR) is 30.87%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on FDX shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $479.00 target price on shares of FedEx in a report on Friday, February 13th. HSBC raised shares of FedEx from a “reduce” rating to a “hold” rating and set a $360.00 price objective for the company in a research report on Friday, March 20th. The Goldman Sachs Group increased their price objective on shares of FedEx from $364.00 to $369.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Argus increased their price objective on shares of FedEx from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. Finally, Barclays raised their target price on shares of FedEx from $360.00 to $450.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. Eighteen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $398.04.

Insider Activity

In other news, EVP Kawal Preet sold 4,900 shares of FedEx stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total value of $1,802,661.00. Following the completion of the transaction, the executive vice president owned 10,953 shares of the company’s stock, valued at $4,029,499.17. This trade represents a 30.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan C. Schwab sold 5,795 shares of FedEx stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the completion of the transaction, the director directly owned 10,038 shares of the company’s stock, valued at approximately $3,704,022. This trade represents a 36.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 48,104 shares of company stock worth $17,599,006. Insiders own 0.53% of the company’s stock.

FedEx Company 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.