FedEx Co. (NYSE:FDX) Short Interest Up 5.1% in August

FedEx Co. (NYSE:FDX) was the recipient of a significant increase in short interest in August. As of August 15th, there was short interest totalling 2,880,000 shares, an increase of 5.1% from the July 31st total of 2,740,000 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily volume of 1,740,000 shares, the short-interest ratio is presently 1.7 days.

FedEx Trading Up 0.9 %

NYSE:FDX opened at $298.77 on Tuesday. FedEx has a one year low of $224.69 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The firm has a market cap of $72.99 billion, a P/E ratio of 17.34, a P/E/G ratio of 1.08 and a beta of 1.18. The firm has a 50-day simple moving average of $294.11 and a 200-day simple moving average of $270.91.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. During the same quarter in the previous year, the business posted $4.94 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. Equities analysts anticipate that FedEx will post 20.87 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be issued a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.85%. FedEx’s dividend payout ratio is currently 32.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FDX shares. Argus lifted their price objective on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Robert W. Baird lifted their price objective on shares of FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. TD Cowen started coverage on shares of FedEx in a research note on Thursday, August 22nd. They issued a “buy” rating and a $334.00 price objective for the company. StockNews.com cut shares of FedEx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 24th. Finally, JPMorgan Chase & Co. raised shares of FedEx from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $296.00 to $359.00 in a research note on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $313.96.

Insider Transactions at FedEx

In other news, CAO Guy M. Erwin II sold 116 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the sale, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at $278,293.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the transaction, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at $278,293.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the transaction, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock valued at $9,882,355 over the last three months. Corporate insiders own 8.73% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after buying an additional 1,056,061 shares during the last quarter. Capital International Investors lifted its stake in FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after acquiring an additional 2,163,622 shares during the period. Putnam Investments LLC lifted its stake in FedEx by 38.1% during the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after acquiring an additional 798,084 shares during the period. Norges Bank acquired a new position in shares of FedEx in the 4th quarter valued at $700,291,000. Finally, Mawer Investment Management Ltd. lifted its stake in shares of FedEx by 43.5% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after purchasing an additional 684,679 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

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.