Short Interest in FedEx Co. (NYSE:FDX) Drops By 11.8%

FedEx Co. (NYSE:FDX) saw a significant drop in short interest in the month of July. As of July 15th, there was short interest totalling 5,380,000 shares, a drop of 11.8% from the June 30th total of 6,100,000 shares. Approximately 2.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,700,000 shares, the short-interest ratio is currently 2.0 days.

In other news, CEO Frederick W. Smith sold 155,750 shares of FedEx stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $117.71, for a total value of $18,333,332.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Susan C. Schwab sold 10,570 shares of FedEx stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $155.58, for a total value of $1,644,480.60. Following the completion of the transaction, the director now owns 16,600 shares in the company, valued at approximately $2,582,628. The disclosure for this sale can be found here. Insiders have sold 196,550 shares of company stock valued at $24,818,258 in the last three months. 8.44% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SevenBridge Financial Group LLC boosted its holdings in FedEx by 0.7% in the 2nd quarter. SevenBridge Financial Group LLC now owns 9,602 shares of the shipping service provider’s stock worth $1,346,000 after acquiring an additional 67 shares during the period. Heron Financial Group LLC increased its position in FedEx by 2.5% in the second quarter. Heron Financial Group LLC now owns 3,078 shares of the shipping service provider’s stock worth $488,000 after buying an additional 74 shares during the period. Capital Investment Advisors LLC increased its position in FedEx by 4.8% in the first quarter. Capital Investment Advisors LLC now owns 1,918 shares of the shipping service provider’s stock worth $233,000 after buying an additional 87 shares during the period. Retirement Network increased its position in FedEx by 76.9% in the first quarter. Retirement Network now owns 207 shares of the shipping service provider’s stock worth $25,000 after buying an additional 90 shares during the period. Finally, City Holding Co. increased its holdings in shares of FedEx by 33.6% during the first quarter. City Holding Co. now owns 366 shares of the shipping service provider’s stock valued at $44,000 after purchasing an additional 92 shares during the period. 73.89% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE FDX traded down $4.31 during trading on Friday, hitting $168.40. 2,488,103 shares of the company were exchanged, compared to its average volume of 2,368,773. The company has a market cap of $44.11 billion, a price-to-earnings ratio of 34.44, a PEG ratio of 1.40 and a beta of 1.32. FedEx has a 1 year low of $88.69 and a 1 year high of $176.25. The firm’s fifty day moving average price is $151.03 and its 200 day moving average price is $136.84. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.58 and a quick ratio of 1.53.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 30th. The shipping service provider reported $2.53 EPS for the quarter, topping the consensus estimate of $1.42 by $1.11. FedEx had a net margin of 1.86% and a return on equity of 13.49%. The business had revenue of $17.36 billion for the quarter, compared to analyst estimates of $16.54 billion. During the same period in the previous year, the firm earned $5.01 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, research analysts forecast that FedEx will post 10.03 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Monday, June 29th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Friday, June 26th. FedEx’s dividend payout ratio is currently 27.37%.

Several analysts have weighed in on the company. JPMorgan Chase & Co. raised FedEx from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $145.00 to $188.00 in a research report on Wednesday, July 1st. Bank of America raised FedEx from a “neutral” rating to a “buy” rating and upped their price objective for the company from $117.00 to $140.00 in a research report on Monday, April 13th. Daiwa Capital Markets boosted their target price on shares of FedEx from $104.00 to $147.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Deutsche Bank raised their target price on FedEx from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Finally, Robert W. Baird upped their price target on shares of FedEx from $140.00 to $162.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. FedEx has a consensus rating of “Buy” and an average target price of $161.08.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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