FedEx Co. (NYSE:FDX) Short Interest Update

FedEx Co. (NYSE:FDX) was the target of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 4,030,000 shares, a decline of 5.4% from the November 15th total of 4,260,000 shares. Based on an average daily trading volume, of 1,810,000 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.8% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on FDX shares. UBS Group cut their target price on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Raymond James dropped their price objective on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. BMO Capital Markets decreased their target price on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. Finally, Evercore ISI dropped their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $316.68.

Hedge Funds Weigh In On FedEx

A number of hedge funds have recently made changes to their positions in FDX. Evermay Wealth Management LLC lifted its holdings in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares in the last quarter. Highline Wealth Partners LLC bought a new position in shares of FedEx during the 3rd quarter valued at about $31,000. Abound Wealth Management grew its position in shares of FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. Sachetta LLC increased its holdings in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of FedEx in the third quarter worth about $47,000. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

NYSE FDX opened at $273.16 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx has a 12 month low of $234.45 and a 12 month high of $313.84. The stock has a market cap of $66.74 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 1.17 and a beta of 1.18. The company’s 50 day moving average is $282.25 and its two-hundred day moving average is $281.70.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.55 earnings per share. As a group, research analysts anticipate that FedEx will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.02%. FedEx’s dividend payout ratio is presently 34.05%.

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.