FedEx Co. (NYSE:FDX) Short Interest Up 31.3% in September

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FedEx Co. (NYSE:FDX – Get Rating) was the target of significant short-term interest growth during the month of September. As of September 30, there was short interest totaling 4,740,000 shares, up 31.3% from the September 15 total of 3,610,000 shares. Currently, 2.0% of the stock’s shares are sold short. Based on an average daily trading volume of 3,260,000 shares, the day-to-cover ratio is currently 1.5 days.

FedEx stock up 0.5%

NYSE FDX traded down $0.71 during Friday trading, hitting $156.96. The stock recorded a trading volume of 2,270,567 shares, compared to an average volume of 7,241,013 shares. The company has a market capitalization of $40.84 billion, a PE ratio of 11.59, a P/E/G ratio of 0.88 and a beta of 1.31. The company’s 50-day moving average price is $191.63 and its two-hundred-day moving average price is $208.68. The company has a debt ratio of 0.79, a quick ratio of 1.38 and a current ratio of 1.42. FedEx has a 12-month low of $141.92 and a 12-month high of $266.79.

FedEx (NYSE:FDX – Get Rating) last reported quarterly earnings data on Thursday, September 22. The shipping service provider reported earnings per share (EPS) of $3.44 for the quarter, missing analyst consensus estimates of $5.14 per ($1.70). FedEx had a return on equity of 20.95% and a net margin of 3.79%. The company posted revenue of $23.20 billion for the quarter, versus a consensus estimate of $23.78 billion. During the same quarter of the previous year, the company achieved EPS of $4.37. The company’s revenue for the quarter increased 5.4% year over year. As a group, sell-side analysts expect FedEx to post EPS of 14.53 for the current year.

FedEx announces dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3. Shareholders of record on Friday, September 2 received a dividend of $1.15 per share. This represents a dividend of $4.60 on an annualized basis and a dividend yield of 2.93%. The ex-dividend date was Thursday, September 1. FedEx’s dividend payout rate is currently 33.97%.

Insider Activity at FedEx

In other FedEx news, R Manager Brad Martin bought 1,500 shares of the company in a trade that took place on Monday, September 26. The shares were acquired at an average cost of $143.41 per share, with a total value of $215,115.00. Following the completion of the acquisition, the director now directly owns 750 shares of the company, valued at approximately $107,557.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other news, R manager Brad Martin acquired 1,500 shares in a trade that took place on Monday, September 26. The shares were purchased at an average cost of $143.41 per share, for a total transaction of $215,115.00. Following completion of the transaction, the administrator now directly owns 750 shares of the company, valued at $107,557.50. The purchase was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Additionally, Executive Vice President Robert B. Carter sold 12,310 FedEx shares in a trade dated Tuesday, July 26. The stock was sold at an average price of $224.67, for a total value of $2,765,687.70. Following the completion of the sale, the executive vice president now owns 54,916 shares of the company, valued at $12,337,977.72. The disclosure of this sale can be found here. Insiders sold 36,500 shares of the company valued at $8,361,089 in the past ninety days. 8.62% of the shares are held by insiders.

Institutional investors weigh in on FedEx

A number of institutional investors and hedge funds have recently changed their positions in FDX. Activest Wealth Management increased its holding in FedEx shares by 121.6% during the 2nd quarter. Activest Wealth Management now owns 113 shares of the shipping service provider worth $26,000 after acquiring 62 additional shares in the last quarter. Holloway Wealth Management LLC acquired a new position in FedEx stock during Q1 worth approximately $29,000. Coston McIsaac & Partners acquired a new position in FedEx stock during Q2 worth approximately $30,000. American National Bank increased its holdings of FedEx shares by 206.7% during the 2nd quarter. American National Bank now owns 138 shares of the shipping service provider worth $31,000 after acquiring 93 more shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. acquired a new position in FedEx stock during Q1 worth approximately $35,000. Institutional investors hold 71.62% of the company’s shares.

Analyst upgrades and downgrades

FDX has been the subject of several research reports. Susquehanna Bancshares lowered its price target on FedEx from $250.00 to $165.00 in a research report on Thursday. Robert W. Baird cut his target price on FedEx from $300.00 to $240.00 and set an “outperform” rating for the company in a research report on Friday, September 16. BMO Capital Markets cut its target price on FedEx from $215.00 to $190.00 and set a “market performance” rating for the company in a Friday, Sept. 23 research report. Wells Fargo & Company cut its target price on FedEx from $269.00 to $199.00 and set an “overweight” rating for the company in a Friday, Sept. 16 research report. Finally, StockNews.com supported FedEx coverage in a research report on Wednesday. They set a “hold” rating for the company. Ten research analysts have rated the stock with a hold rating and twelve have assigned the stock a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $210.00.

FedEx Company Profile

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FedEx Corporation provides transportation, e-commerce and business services in the United States and abroad. The Company’s FedEx Express segment offers express transportation, small package ground delivery and freight transportation services; urgent transportation services; and enabling, technology and cross-border transport solutions for e-commerce.

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