Short Interest in FedEx Co. (NYSE:FDX) Declines By 5.4%

FedEx Co. (NYSE:FDX) saw a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 4,030,000 shares, a decrease 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 currently 2.2 days. Approximately 1.8% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

FDX has been the topic of several research reports. HSBC lowered shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a research report on Friday, September 20th. Susquehanna lowered their price target on shares of FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Evercore ISI reduced their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Loop Capital lowered their target price on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Finally, Bernstein Bank increased their price target on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $316.68.

Institutional Trading of FedEx

Institutional investors and hedge funds have recently bought and sold shares of the company. Evermay Wealth Management LLC grew 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 buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in FedEx during the 3rd quarter valued at $31,000. Abound Wealth Management increased its holdings in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of FedEx in the third quarter worth $47,000. Finally, Sachetta LLC boosted its position in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

FedEx Price Performance

FDX opened at $277.35 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a market cap of $67.76 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The stock has a fifty day simple moving average of $282.08 and a two-hundred day simple moving average of $281.76. FedEx has a 12-month low of $234.45 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last announced its earnings results 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). The business 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%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $4.55 EPS. Research analysts predict that FedEx will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date 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.