FedEx Corporation (NYSE:FDX) Short Interest Update

FedEx Corporation (NYSE:FDX) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totaling 3,275,799 shares, an increase of 23.6% from the March 31st total of 2,650,351 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 1,533,619 shares, the short-interest ratio is currently 2.1 days.

Insiders Place Their Bets

In other news, EVP Tracy B. Brightman sold 16,959 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the transaction, the executive vice president directly owned 11,052 shares in the company, valued at approximately $4,017,070.44. The trade was a 60.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 5,795 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total value of $2,138,355.00. Following the transaction, the director owned 10,038 shares of the company’s stock, valued at approximately $3,704,022. This represents a 36.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 48,104 shares of company stock valued at $17,599,006. Corporate insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Welch & Forbes LLC bought a new position in shares of FedEx in the first quarter valued at $237,000. Ferguson Wellman Capital Management Inc. increased its holdings in shares of FedEx by 3.2% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider’s stock valued at $296,000 after buying an additional 26 shares in the last quarter. Citizens Financial Group Inc. RI increased its holdings in shares of FedEx by 24.6% in the first quarter. Citizens Financial Group Inc. RI now owns 4,919 shares of the shipping service provider’s stock valued at $1,759,000 after buying an additional 971 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of FedEx by 98.9% in the first quarter. Fifth Third Bancorp now owns 67,597 shares of the shipping service provider’s stock valued at $24,077,000 after buying an additional 33,612 shares in the last quarter. Finally, American Trust bought a new position in shares of FedEx in the first quarter valued at $203,000. Institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the subject of several analyst reports. Raymond James Financial boosted their price objective on FedEx from $305.00 to $410.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Stifel Nicolaus boosted their price objective on FedEx from $425.00 to $442.00 in a research report on Friday, April 10th. Stephens reiterated an “overweight” rating and set a $435.00 price objective on shares of FedEx in a research report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $479.00 price objective on shares of FedEx in a research report on Friday, February 13th. Finally, Rothschild & Co Redburn boosted their price objective on FedEx from $317.00 to $371.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Eighteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $398.04.

FedEx Price Performance

FDX traded down $9.52 during trading on Friday, reaching $393.79. The stock had a trading volume of 1,070,941 shares, compared to its average volume of 1,391,174. The firm has a market capitalization of $93.96 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 1.53 and a beta of 1.29. FedEx has a 1-year low of $211.89 and a 1-year high of $404.03. The stock has a 50 day moving average of $370.95 and a two-hundred day moving average of $318.96. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $1.13. The company had revenue of $24 billion for the quarter, compared to analysts’ expectations of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.51 earnings per share. As a group, equities analysts anticipate that FedEx will post 19.72 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 9th were issued a $1.45 dividend. The ex-dividend date of this dividend was Monday, March 9th. This represents a $5.80 annualized dividend and a dividend yield of 1.5%. FedEx’s dividend payout ratio is currently 30.87%.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.