FedEx Co. (NYSE:FDX) Shares Bought by Crossmark Global Holdings Inc.

by · The Markets Daily

Crossmark Global Holdings Inc. lifted its position in shares of FedEx Co. (NYSE:FDX – Free Report) by 20.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,246 shares of the shipping service provider’s stock after purchasing an additional 5,055 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in FedEx were worth $7,398,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Sentry LLC purchased a new position in FedEx in the fourth quarter valued at $1,811,748,000. Norges Bank purchased a new position in shares of FedEx in the 4th quarter valued at about $700,291,000. Mizuho Markets Americas LLC acquired a new position in FedEx in the 3rd quarter worth about $496,611,000. FMR LLC boosted its position in FedEx by 29.1% during the third quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock worth $1,076,619,000 after purchasing an additional 916,555 shares in the last quarter. Finally, Capital International Investors grew its holdings in FedEx by 15.2% in the fourth quarter. Capital International Investors now owns 6,667,462 shares of the shipping service provider’s stock valued at $1,686,738,000 after purchasing an additional 880,894 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other FedEx news, VP Guy M. Erwin II sold 2,749 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total value of $794,763.39. Following the sale, the vice president now owns 486 shares of the company’s stock, valued at $140,507.46. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 shares were 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 owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Guy M. Erwin II sold 2,749 shares of FedEx stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the transaction, the vice president now owns 486 shares of the company’s stock, valued at approximately $140,507.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 136,668 shares of company stock valued at $37,758,773. Company insiders own 8.73% of the company’s stock.

FedEx Trading Up 0.9 %

Shares of FedEx stock traded up $2.10 during trading hours on Wednesday, hitting $248.05. The company’s stock had a trading volume of 930,178 shares, compared to its average volume of 1,835,646. The stock has a market cap of $61.04 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 0.90 and a beta of 1.16. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. FedEx Co. has a twelve month low of $218.55 and a twelve month high of $291.27. The firm has a fifty day moving average of $263.79 and a 200-day moving average of $256.73.

FedEx (NYSE:FDX – Get Free Report) last posted its 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 net margin of 5.02% and a return on equity of 16.60%. The company had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter in the prior year, the company posted $3.41 earnings per share. FedEx’s revenue for the quarter was down 2.1% compared to the same quarter last year. Research analysts forecast that FedEx Co. will post 17.71 EPS for the current year.

FedEx declared that its board has approved a stock buyback program on Thursday, March 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FDX. BNP Paribas reiterated an “underperform” rating and set a $250.00 target price on shares of FedEx in a research report on Wednesday, March 27th. Barclays lifted their target price on shares of FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Bank of America reduced their price target on shares of FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. UBS Group decreased their price target on shares of FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research note on Tuesday, May 21st. Finally, TD Cowen boosted their price objective on FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $300.74.

Check Out Our Latest Analysis on FDX

FedEx Company Profile

(Free Report)

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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