Alpine Bank Wealth Management Makes New $65,000 Investment in FedEx Corporation (NYSE:FDX)

Alpine Bank Wealth Management bought a new position in shares of FedEx Corporation (NYSE:FDX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 265 shares of the shipping service provider’s stock, valued at approximately $65,000.

A number of other large investors also recently modified their holdings of FDX. Vanguard Group Inc. raised its stake in FedEx by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock worth $5,682,727,000 after acquiring an additional 56,236 shares during the period. Dodge & Cox grew its holdings in shares of FedEx by 5.6% during the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock valued at $3,907,568,000 after purchasing an additional 734,268 shares during the last quarter. Geode Capital Management LLC raised its position in shares of FedEx by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock worth $1,350,686,000 after purchasing an additional 109,006 shares during the period. Franklin Resources Inc. lifted its holdings in shares of FedEx by 8.1% in the 4th quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock worth $1,209,338,000 after purchasing an additional 323,115 shares during the last quarter. Finally, Invesco Ltd. boosted its position in FedEx by 4.1% during the 4th quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider’s stock valued at $906,165,000 after purchasing an additional 127,044 shares during the period. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Performance

Shares of FDX opened at $222.07 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.24 and a quick ratio of 1.19. The firm’s 50 day moving average is $219.48 and its 200-day moving average is $243.71. FedEx Corporation has a 12-month low of $194.30 and a 12-month high of $313.84. The stock has a market capitalization of $53.21 billion, a P/E ratio of 13.16, a P/E/G ratio of 1.15 and a beta of 1.35.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.98 by $0.09. The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.54%. During the same quarter in the previous year, the business posted $5.41 earnings per share. Equities research analysts anticipate that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be issued a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.61%. This is a boost from FedEx’s previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Monday, June 23rd. FedEx’s payout ratio is presently 36.39%.

Analyst Ratings Changes

FDX has been the subject of a number of recent research reports. Stephens restated an “overweight” rating and set a $300.00 price objective on shares of FedEx in a research note on Tuesday, May 20th. BMO Capital Markets lowered their price target on shares of FedEx from $275.00 to $260.00 and set a “market perform” rating for the company in a research report on Monday, May 19th. Loop Capital downgraded shares of FedEx from a “hold” rating to a “sell” rating and cut their price objective for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Wells Fargo & Company boosted their target price on shares of FedEx from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Sanford C. Bernstein dropped their price target on shares of FedEx from $282.00 to $249.00 and set a “market perform” rating on the stock in a research note on Friday, June 13th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $285.75.

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.