FedEx Co. (NYSE:FDX - Get Rating) was the target of a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 4,350,000 shares, a decrease of 16.7% from the November 30th total of 5,220,000 shares. Based on an average daily trading volume, of 3,420,000 shares, the short-interest ratio is presently 1.3 days. Approximately 1.9% of the shares of the company are short sold.
Institutional Investors Weigh In On FedEx
A number of hedge funds have recently added to or reduced their stakes in FDX. RB Capital Management LLC grew its holdings in FedEx by 3.3% during the 1st quarter. RB Capital Management LLC now owns 1,951 shares of the shipping service provider's stock worth $451,000 after acquiring an additional 63 shares during the last quarter. AMI Investment Management Inc. boosted its stake in shares of FedEx by 43.9% in the 1st quarter. AMI Investment Management Inc. now owns 15,385 shares of the shipping service provider's stock valued at $3,560,000 after purchasing an additional 4,693 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of FedEx by 366.1% in the 1st quarter. Acadian Asset Management LLC now owns 27,222 shares of the shipping service provider's stock valued at $6,294,000 after purchasing an additional 21,381 shares during the last quarter. Visionary Wealth Advisors boosted its stake in shares of FedEx by 3.6% in the 1st quarter. Visionary Wealth Advisors now owns 1,459 shares of the shipping service provider's stock valued at $338,000 after purchasing an additional 51 shares during the last quarter. Finally, Integrated Wealth Concepts LLC boosted its stake in shares of FedEx by 4.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 5,354 shares of the shipping service provider's stock valued at $1,239,000 after purchasing an additional 220 shares during the last quarter. Institutional investors own 72.02% of the company's stock.
FedEx Price Performance
NYSE:FDX traded down $2.35 during mid-day trading on Monday, reaching $173.20. 79,666 shares of the company were exchanged, compared to its average volume of 2,809,649. FedEx has a 12 month low of $141.92 and a 12 month high of $266.79. The company has a fifty day moving average of $170.07 and a 200 day moving average of $192.38. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.83. The stock has a market cap of $43.72 billion, a PE ratio of 13.61, a PEG ratio of 1.07 and a beta of 1.31.
FedEx Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Monday, December 12th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Friday, December 9th. FedEx's dividend payout ratio is currently 36.14%.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on FDX. Evercore ISI decreased their price objective on shares of FedEx from $225.00 to $202.00 and set an "outperform" rating for the company in a report on Monday, December 19th. Barclays set a $240.00 target price on shares of FedEx in a research note on Monday. The Goldman Sachs Group set a $218.00 target price on shares of FedEx in a research note on Monday. UBS Group set a $215.00 target price on shares of FedEx in a research note on Wednesday, December 28th. Finally, Stifel Nicolaus cut shares of FedEx from a "buy" rating to a "hold" rating and cut their target price for the company from $288.00 to $195.00 in a research note on Friday, September 16th. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, FedEx currently has a consensus rating of "Hold" and a consensus price target of $203.84.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.
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