FedEx Co. (NYSE:FDX) Short Interest Up 5.1% in August

FedEx Co. (NYSE:FDX) was the recipient of a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 2,880,000 shares, an increase of 5.1% from the July 31st total of 2,740,000 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average daily trading volume, of 1,740,000 shares, the short-interest ratio is currently 1.7 days.

FedEx Trading Up 0.9 %

Shares of FedEx stock opened at $298.77 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm has a market cap of $72.99 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18. The business has a fifty day simple moving average of $294.11 and a 200-day simple moving average of $270.91. FedEx has a fifty-two week low of $224.69 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating the consensus estimate of $5.34 by $0.07. The business had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.94 earnings per share. On average, equities analysts forecast that FedEx will post 20.87 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Wall Street Analyst Weigh In

FDX has been the subject of several research reports. Wells Fargo & Company lifted their price objective on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. Stephens reissued an “overweight” rating and set a $325.00 price target on shares of FedEx in a research report on Wednesday, June 26th. Raymond James cut their price objective on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. Evercore ISI cut their price target on FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a report on Monday, June 24th. Finally, Bank of America increased their target price on FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $313.96.

Insider Activity at FedEx

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the transaction, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the sale, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock worth $9,882,355 in the last three months. Insiders own 8.73% of the company’s stock.

Institutional Investors Weigh In On FedEx

Institutional investors and hedge funds have recently modified their holdings of the stock. SeaCrest Wealth Management LLC raised its position in FedEx by 0.6% during the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after buying an additional 34 shares during the period. LRI Investments LLC raised its position in FedEx by 8.6% during the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after buying an additional 36 shares during the period. Ascent Wealth Partners LLC raised its position in FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after buying an additional 36 shares during the period. Detalus Advisors LLC raised its position in FedEx by 2.4% during the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after buying an additional 37 shares during the period. Finally, Sachetta LLC increased its position in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Company 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.