Short Interest in FedEx Co. (NYSE:FDX) Drops By 8.5%

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

FedEx Stock Down 1.5 %

NYSE FDX traded down $4.12 during trading hours on Tuesday, reaching $269.56. 1,685,263 shares of the company’s stock were exchanged, compared to its average volume of 1,886,419. The company’s 50-day moving average is $286.76 and its two-hundred day moving average is $275.91. FedEx has a one year low of $224.69 and a one year 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 debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX) last issued 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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the previous year, the business posted $4.55 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts forecast that FedEx will post 19.66 EPS for the current fiscal year.

FedEx Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently commented on the stock. UBS Group decreased their price target on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a report on Friday, September 20th. Bank of America reduced their target price on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. TD Cowen reduced their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Wells Fargo & Company lifted their target price on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. Finally, Raymond James reduced their target price on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $314.74.

Insider Activity

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 sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the transaction, the chief executive officer now owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Marvin R. Ellison sold 2,535 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $299.34, for a total value of $758,826.90. Following the completion of the transaction, the director now directly owns 6,955 shares in the company, valued at approximately $2,081,909.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,030 shares of company stock valued at $4,013,050. Insiders own 8.73% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. SeaCrest Wealth Management LLC lifted its holdings in FedEx by 0.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after purchasing an additional 34 shares in the last quarter. LRI Investments LLC increased its position in shares of FedEx by 8.6% during the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after purchasing an additional 36 shares during the last quarter. Ascent Wealth Partners LLC increased its position in shares of FedEx by 0.5% during the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after purchasing an additional 36 shares during the last quarter. Detalus Advisors LLC increased its position in shares of FedEx by 2.4% during the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after purchasing an additional 37 shares during the last quarter. Finally, Sachetta LLC grew its position in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

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.