FedEx Co. (NYSE:FDX) Short Interest Update

FedEx Co. (NYSE:FDX) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 4,160,000 shares, an increase of 5.6% from the October 15th total of 3,940,000 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average daily volume of 1,630,000 shares, the short-interest ratio is currently 2.6 days.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FDX. Raymond James dropped their price target on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. HSBC downgraded shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research report on Friday, September 20th. Bank of America lowered their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Loop Capital cut their price objective on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Finally, Susquehanna lowered their target price on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $316.04.

Hedge Funds Weigh In On FedEx

A number of hedge funds have recently made changes to their positions in the company. Evermay Wealth Management LLC grew its stake in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of FedEx in the third quarter valued at approximately $31,000. Central Valley Advisors LLC purchased a new position in FedEx during the second quarter worth approximately $39,000. Abound Wealth Management boosted its stake in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in FedEx during the third quarter worth $47,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of NYSE FDX traded down $0.39 during midday trading on Tuesday, reaching $294.82. 514,851 shares of the stock were exchanged, compared to its average volume of 1,798,602. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The firm has a 50-day simple moving average of $275.64 and a two-hundred day simple moving average of $276.71. FedEx has a twelve month low of $234.45 and a twelve month high of $313.84. The firm has a market cap of $72.03 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 1.23 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share 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 firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter last year, the company posted $4.55 EPS. The company’s revenue was down .5% on a year-over-year basis. As a group, analysts anticipate that FedEx will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s payout ratio is 34.05%.

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.