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
(Get a rating)
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.
This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Before you consider FedEx, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and FedEx wasn’t on the list.
Although FedEx currently has a “moderate buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the five actions here