FedEx Co. (NYSE:FDX) Sees Large Drop in Short Interest

FedEx Co. (NYSE:FDX) was the recipient of a significant decrease in short interest in the month of February. As of February 29th, there was short interest totalling 3,170,000 shares, a decrease of 14.6% from the February 14th total of 3,710,000 shares. Based on an average trading volume of 2,450,000 shares, the days-to-cover ratio is currently 1.3 days. Currently, 1.4% of the shares of the company are sold short.

FedEx Trading Down 0.1 %

Shares of NYSE FDX traded down $0.17 during midday trading on Monday, reaching $253.12. 1,557,686 shares of the stock were exchanged, compared to its average volume of 1,992,058. The stock has a market capitalization of $63.25 billion, a P/E ratio of 15.00, a PEG ratio of 1.04 and a beta of 1.20. The company has a 50 day simple moving average of $245.82 and a 200 day simple moving average of $251.43. FedEx has a twelve month low of $213.80 and a twelve month high of $285.53. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.30 and a current ratio of 1.34.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.14 by ($0.15). The business had revenue of $22.17 billion during the quarter, compared to analyst estimates of $22.36 billion. FedEx had a return on equity of 16.47% and a net margin of 4.87%. FedEx’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.18 EPS. As a group, equities analysts expect that FedEx will post 17.62 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 11th will be paid a $1.26 dividend. The ex-dividend date of this dividend is Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a yield of 1.99%. FedEx’s payout ratio is 29.86%.

Analyst Ratings Changes

A number of research firms recently commented on FDX. TD Cowen boosted their price target on FedEx from $290.00 to $293.00 and gave the stock an “outperform” rating in a report on Tuesday, December 12th. Melius Research raised shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 target price on the stock in a report on Monday, January 8th. Raymond James cut their price target on FedEx from $279.00 to $275.00 and set an “outperform” rating for the company in a research note on Wednesday, December 20th. Melius raised FedEx from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Finally, Stephens reduced their price objective on FedEx from $330.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, December 20th. Six equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus target price of $289.56.

Insider Buying and Selling

In related news, EVP John W. Dietrich bought 1,000 shares of the business’s stock in a transaction on Thursday, December 28th. The stock was bought at an average price of $252.02 per share, for a total transaction of $252,020.00. Following the transaction, the executive vice president now directly owns 4,745 shares in the company, valued at $1,195,834.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Amy B. Lane purchased 200 shares of the company’s stock in a transaction dated Tuesday, December 26th. The shares were purchased at an average price of $253.22 per share, for a total transaction of $50,644.00. Following the transaction, the director now owns 3,304 shares of the company’s stock, valued at $836,638.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John W. Dietrich purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The stock was bought at an average cost of $252.02 per share, for a total transaction of $252,020.00. Following the completion of the acquisition, the executive vice president now directly owns 4,745 shares in the company, valued at approximately $1,195,834.90. The disclosure for this purchase can be found here. 8.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On FedEx

Large investors have recently made changes to their positions in the company. Fortis Group Advisors LLC boosted its stake in shares of 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 buying an additional 50 shares during the last quarter. Scarborough Advisors LLC purchased a new position in shares of FedEx in the 4th quarter worth $25,000. Financial Management Professionals Inc. raised its holdings in shares of FedEx by 143.2% in the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after purchasing an additional 63 shares in the last quarter. Private Wealth Management Group LLC purchased a new position in shares of FedEx in the fourth quarter worth $28,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of FedEx in the fourth quarter valued at about $30,000. Institutional investors own 73.61% 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.