8,593 Shares in FedEx Corporation $FDX Acquired by Pavion Blue Capital LLC

Key Points

• Pavion Blue Capital LLC acquired 8,593 FedEx shares during the second quarter, valued at approximately $2.69 million and representing 1.1% of its portfolio. Institutional investors collectively own 84.47% of FedEx.
• FedEx reported quarterly revenue of $23.26 billion and earnings of $5.88 per share. Its shares opened at $331.86, near the company’s 52-week high of $345.36.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $350.54, while recent research firms have lowered targets or issued “Hold” ratings. FedEx’s quarterly dividend equates to $4.88 annually, producing a 1.5% yield.

Pavion Blue Capital LLC acquired a new stake in shares of FedEx Corporation (NYSE:FDX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,593 shares of the shipping service provider's stock, valued at approximately $2,691,000. FedEx accounts for approximately 1.1% of Pavion Blue Capital LLC's investment portfolio, making the stock its 27th biggest position.

Several other large investors have also recently bought and sold shares of the company. Sivia Capital Partners LLC acquired a new position in FedEx in the 2nd quarter worth $586,000. Canada Post Corp Registered Pension Plan raised its stake in shares of FedEx by 85.9% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider's stock valued at $1,962,000 after purchasing an additional 3,138 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of FedEx by 19.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider's stock valued at $12,081,000 after purchasing an additional 6,864 shares during the period. North Dakota State Investment Board bought a new stake in shares of FedEx in the fourth quarter valued at about $2,122,000. Finally, OMERS ADMINISTRATION Corp boosted its position in shares of FedEx by 104.9% during the first quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider's stock worth $6,169,000 after buying an additional 8,868 shares during the period. Institutional investors own 84.47% of the company's stock.

Insiders Place Their Bets

In related news, Director Paul S. Walsh sold 5,042 shares of the business's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the sale, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.53% of the company's stock.

FedEx Stock Performance

Shares of FDX opened at $331.86 on Tuesday. The firm has a 50-day moving average of $319.43 and a 200-day moving average of $351.54. The company has a market cap of $78.51 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. FedEx Corporation has a one year low of $177.05 and a one year high of $345.36.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The firm had revenue of $23.26 billion for the quarter. As a group, equities analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx's dividend payout ratio is currently 26.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. BMO Capital Markets reissued a "market perform" rating on shares of FedEx in a research report on Wednesday, June 24th. Rothschild & Co Redburn reduced their price target on FedEx from $375.00 to $344.00 and set a "neutral" rating for the company in a research report on Tuesday, June 2nd. HSBC decreased their price target on shares of FedEx from $360.00 to $289.89 and set a "hold" rating for the company in a research note on Monday, June 1st. Wall Street Zen upgraded shares of FedEx to a "hold" rating in a report on Saturday, August 8th. Finally, Weiss Ratings cut shares of FedEx from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $350.54.

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.

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