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

FedEx Co. (NYSE:FDX) was the target of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 3,290,000 shares, a drop of 7.8% from the January 15th total of 3,570,000 shares. Based on an average trading volume of 1,800,000 shares, the short-interest ratio is currently 1.8 days. Approximately 1.5% of the shares of the stock are short sold.

FedEx Stock Down 0.2 %

FDX traded down $0.42 during midday trading on Tuesday, reaching $267.35. The company’s stock had a trading volume of 927,497 shares, compared to its average volume of 1,668,628. The stock’s 50-day moving average is $272.17 and its 200-day moving average is $278.71. FedEx has a 1 year low of $235.32 and a 1 year high of $313.84. The firm has a market capitalization of $64.39 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 1.07 and a beta of 1.18. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter in the previous year, the business earned $3.99 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. As a group, research analysts expect that FedEx will post 19.14 EPS for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.06%. FedEx’s dividend payout ratio is presently 35.18%.

Insider Buying and Selling at FedEx

In related news, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy B. Lane purchased 333 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company’s stock.

Institutional Investors Weigh In On FedEx

A number of institutional investors have recently made changes to their positions in FDX. Fortitude Family Office LLC lifted its position in FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 52 shares in the last quarter. Evermay Wealth Management LLC lifted its holdings in shares of FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares in the last quarter. Transce3nd LLC purchased a new stake in shares of FedEx during the fourth quarter valued at $26,000. Peoples Financial Services CORP. bought a new stake in FedEx in the 4th quarter worth about $28,000. Finally, City Holding Co. purchased a new position in FedEx in the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FDX shares. Bank of America lifted their target price on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Stifel Nicolaus reduced their price target on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Finally, Wells Fargo & Company upped their price target on FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $321.87.

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.