Pavion Blue Capital LLC Invests $2.69 Million in FedEx Corporation $FDX

Pavion Blue Capital LLC purchased a new stake in FedEx Corporation (NYSE:FDX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,593 shares of the shipping service provider’s stock, valued at approximately $2,691,000. FedEx makes up 1.1% of Pavion Blue Capital LLC’s holdings, making the stock its 27th largest position.

Several other institutional investors have also made changes to their positions in FDX. Hollencrest Capital Management bought a new position in FedEx during the 1st quarter worth $25,000. Bayban bought a new stake in shares of FedEx during the 1st quarter valued at $26,000. EFG International AG acquired a new stake in shares of FedEx during the 4th quarter worth $27,000. Wealth Watch Advisors INC acquired a new stake in shares of FedEx during the 3rd quarter worth $28,000. Finally, Tucker Asset Management LLC bought a new position in shares of FedEx in the fourth quarter worth $29,000. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FDX shares. TD Cowen cut their price objective on shares of FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. Stifel Nicolaus decreased their target price on shares of FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. UBS Group dropped their target price on shares of FedEx from $445.00 to $350.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Weiss Ratings downgraded shares of FedEx from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, July 29th. Finally, Sanford C. Bernstein set a $397.00 price target on shares of FedEx in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $350.54.

Insider Buying and Selling at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the sale, the director directly owned 16,359 shares of the company’s stock, valued at $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.53% of the company’s stock.

FedEx Stock Down 0.8%

FDX stock opened at $331.86 on Tuesday. The stock has a market capitalization of $78.51 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. FedEx Corporation has a 12 month low of $177.05 and a 12 month high of $345.36. The firm has a 50-day moving average price of $319.43 and a 200-day moving average price of $351.54.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The company had revenue of $23.26 billion for the quarter. As a group, equities research analysts anticipate that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were given a $1.22 dividend. The ex-dividend date was Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.5%. FedEx’s dividend payout ratio (DPR) is currently 26.36%.

About FedEx

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.