Short Interest in FedEx Co. (NYSE:FDX) Rises By 7.5%

FedEx Co. (NYSE:FDX) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 4,010,000 shares, a growth of 7.5% from the June 30th total of 3,730,000 shares. Currently, 1.8% of the shares of the company are sold short. Based on an average trading volume of 1,740,000 shares, the days-to-cover ratio is presently 2.3 days.

FedEx Stock Down 0.4 %

FDX traded down $1.20 on Thursday, hitting $301.05. The company had a trading volume of 127,581 shares, compared to its average volume of 1,883,115. The stock has a fifty day simple moving average of $275.93 and a 200-day simple moving average of $263.50. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The firm has a market capitalization of $73.55 billion, a P/E ratio of 17.54, a P/E/G ratio of 1.09 and a beta of 1.18. FedEx has a 52-week low of $224.69 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. The company had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $4.94 EPS. As a group, equities analysts expect that FedEx will post 20.94 EPS for the current fiscal year.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Monday, June 24th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.83%. This is a positive change from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date was Monday, June 24th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Insider Buying and Selling at FedEx

In other news, Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the completion of the transaction, the director now directly owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other FedEx news, EVP Brie Carere sold 1,958 shares of the 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 sale, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.72, for a total transaction of $747,115.20. Following the completion of the transaction, the director now directly owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock valued at $9,882,355 in the last 90 days. 8.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Fortis Group Advisors LLC raised its holdings 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 during the last quarter. Scarborough Advisors LLC purchased a new position in shares of FedEx in the fourth quarter worth $25,000. Private Wealth Management Group LLC purchased a new stake in shares of FedEx during the fourth quarter valued at $28,000. Rakuten Securities Inc. bought a new stake in FedEx in the 4th quarter worth about $30,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in FedEx in the 4th quarter worth about $31,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. upgraded FedEx from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $296.00 to $359.00 in a research note on Wednesday, June 26th. Wells Fargo & Company raised their price objective on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. Stifel Nicolaus restated a “buy” rating and issued a $327.00 price objective (up from $303.00) on shares of FedEx in a report on Wednesday, June 26th. Stephens reaffirmed an “overweight” rating and set a $325.00 target price on shares of FedEx in a report on Wednesday, June 26th. Finally, Morgan Stanley boosted their price target on shares of FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.00.

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.