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

FedEx Co. (NYSE:FDX) saw a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 4,030,000 shares, a drop of 5.4% from the November 15th total of 4,260,000 shares. Based on an average daily volume of 1,810,000 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.8% of the shares of the company are short sold.

Wall Street Analyst Weigh In

FDX has been the topic of several research reports. Robert W. Baird dropped their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Loop Capital decreased their target price on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Evercore ISI reduced their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Finally, HSBC cut 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. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $316.68.

FedEx Price Performance

FedEx stock opened at $277.35 on Wednesday. The firm has a market capitalization of $67.76 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. FedEx has a 12-month low of $234.45 and a 12-month high of $313.84. The firm has a 50-day moving average price of $282.08 and a 200-day moving average price of $281.76. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter last year, the firm earned $4.55 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities research analysts forecast that FedEx will post 19.59 EPS for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Monday, December 9th. FedEx’s payout ratio is presently 34.05%.

Institutional Investors Weigh In On FedEx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FDX. International Assets Investment Management LLC grew its stake in FedEx by 473.8% in the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after acquiring an additional 647,926 shares in the last quarter. Ameriprise Financial Inc. grew its stake in FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares in the last quarter. Franklin Resources Inc. increased its holdings in FedEx by 8.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after purchasing an additional 314,380 shares during the period. World Investment Advisors LLC raised its position in FedEx by 2,163.7% during the 3rd quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock valued at $52,667,000 after purchasing an additional 183,940 shares in the last quarter. Finally, Ceredex Value Advisors LLC lifted its holdings in shares of FedEx by 77.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock worth $101,022,000 after buying an additional 161,022 shares during the period. 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.