FedEx Co. (NYSE:FDX) Short Interest Update

FedEx Co. (NYSE:FDX) saw a significant increase in short interest in September. As of September 30th, there was short interest totalling 4,410,000 shares, an increase of 58.1% from the September 15th total of 2,790,000 shares. Currently, 2.0% of the company’s stock are sold short. Based on an average daily volume of 1,740,000 shares, the days-to-cover ratio is presently 2.5 days.

Insider Activity at FedEx

In other FedEx news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the sale, the executive vice president now owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the transaction, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital International Investors raised its position in shares of FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after purchasing an additional 2,163,622 shares during the period. Sentry LLC bought a new position in shares of FedEx in the fourth quarter worth about $307,007,000. Vanguard Group Inc. increased its holdings in shares of FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after buying an additional 1,056,061 shares in the last quarter. Mawer Investment Management Ltd. raised its position in FedEx by 43.5% in the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after purchasing an additional 684,679 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after buying an additional 578,350 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FDX has been the topic of several recent research reports. Susquehanna cut their price target on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Robert W. Baird reduced their price objective on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Stephens reissued an “overweight” rating and set a $350.00 target price on shares of FedEx in a research report on Friday, September 20th. Finally, Bernstein Bank upped their price target on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Stock Performance

FDX stock traded up $3.15 during midday trading on Monday, hitting $267.51. The stock had a trading volume of 920,870 shares, compared to its average volume of 1,857,557. FedEx has a 52 week low of $224.69 and a 52 week high of $313.84. The firm has a market capitalization of $65.83 billion, a price-to-earnings ratio of 15.49, a P/E/G ratio of 1.06 and a beta of 1.17. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The stock has a 50-day simple moving average of $281.08 and a 200 day simple moving average of $275.39.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the company earned $4.55 earnings per share. As a group, equities research analysts anticipate that FedEx will post 19.6 earnings per share for the current year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were given a $1.38 dividend. The ex-dividend date was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.06%. FedEx’s dividend payout ratio is 32.04%.

About FedEx

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.