FedEx Co. (NYSE:FDX) Short Interest Update

FedEx Co. (NYSE:FDX) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 3,050,000 shares, a growth of 5.9% from the August 15th total of 2,880,000 shares. Currently, 1.4% of the company’s shares are sold short. Based on an average trading volume of 1,690,000 shares, the days-to-cover ratio is currently 1.8 days.

FedEx Stock Up 1.4 %

NYSE FDX traded up $4.21 on Thursday, hitting $302.38. 386,185 shares of the stock traded hands, compared to its average volume of 1,748,724. The stock has a 50-day moving average of $293.30 and a 200 day moving average of $274.62. FedEx has a twelve month low of $224.69 and a twelve month high of $313.84. The company has a market capitalization of $74.41 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter in the prior year, the firm posted $4.94 earnings per share. FedEx’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, analysts expect that FedEx will post 20.82 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s payout ratio is 32.04%.

Insider Activity at FedEx

In related news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was 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 in the company, valued at approximately $17,634,640.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FedEx news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the sale, the executive vice president now owns 59,884 shares in the company, valued at $17,634,640.32. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock worth $9,882,355 in the last three months. 8.73% of the stock is owned by company insiders.

Institutional Trading of FedEx

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fortis Group Advisors LLC raised its position in shares of FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 50 shares during the period. Scarborough Advisors LLC acquired a new stake in shares of FedEx during the 4th quarter worth approximately $25,000. Sachetta LLC acquired a new stake in shares of FedEx during the 4th quarter worth approximately $32,000. Central Valley Advisors LLC acquired a new stake in shares of FedEx during the 2nd quarter worth approximately $39,000. Finally, Security National Bank acquired a new stake in shares of FedEx during the 4th quarter worth approximately $44,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on FDX. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. StockNews.com lowered FedEx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 24th. Robert W. Baird restated an “outperform” rating and set a $340.00 price target on shares of FedEx in a research note on Friday, September 13th. Finally, Raymond James dropped their price target on FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.58.

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.