FedEx Co. (NYSE:FDX) Short Interest Update

FedEx Co. (NYSE:FDX) saw a significant decrease in short interest in September. As of September 15th, there was short interest totalling 2,790,000 shares, a decrease of 8.5% from the August 31st total of 3,050,000 shares. Based on an average daily volume of 2,020,000 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.3% of the shares of the stock are short sold.

Analyst Ratings Changes

FDX has been the subject of a number of research reports. Stifel Nicolaus reduced their target price on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Bernstein Bank raised their target price on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Wells Fargo & Company upped their price target on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $215.00 to $200.00 in a report on Friday, September 20th. Finally, Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.74.

FedEx Stock Down 1.5 %

Shares of NYSE FDX traded down $4.12 during trading on Tuesday, reaching $269.56. 1,685,263 shares of the stock were exchanged, compared to its average volume of 1,886,419. FedEx has a twelve month low of $224.69 and a twelve month high of $313.84. The company has a market capitalization of $66.33 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The business’s 50-day moving average price is $286.76 and its 200 day moving average price is $275.91.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the previous year, the company earned $4.55 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities analysts forecast that FedEx will post 19.66 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Insider Activity at FedEx

In related news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,030 shares of company stock valued at $4,013,050. 8.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FDX. Fortis Group Advisors LLC lifted its stake in FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 50 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in shares of FedEx in the fourth quarter worth approximately $25,000. Central Valley Advisors LLC acquired a new stake in shares of FedEx during the second quarter worth approximately $39,000. Security National Bank purchased a new position in FedEx during the fourth quarter valued at approximately $44,000. Finally, Abound Wealth Management increased its stake in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

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.