FedEx Co. (NYSE:FDX – Get Free Report) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 3,730,000 shares, a growth of 20.7% from the October 31st total of 3,090,000 shares. Based on an average trading volume of 1,760,000 shares, the short-interest ratio is currently 2.1 days. Approximately 1.6% of the shares of the company are sold short.

Insider Transactions at FedEx

In other news, VP Jennifer L. Johnson sold 13,348 shares of the firm’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $258.25, for a total value of $3,447,121.00. Following the completion of the sale, the vice president now owns 3,428 shares in the company, valued at approximately $885,281. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.73% of the company’s stock.

Institutional Investors Weigh In On FedEx

Several large investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its position in shares of FedEx by 566.3% in the third quarter. Wellington Management Group LLP now owns 403,462 shares of the shipping service provider’s stock worth $106,885,000 after acquiring an additional 342,905 shares in the last quarter. American Century Companies Inc. increased its position in shares of FedEx by 11.1% in the third quarter. American Century Companies Inc. now owns 216,931 shares of the shipping service provider’s stock worth $57,469,000 after acquiring an additional 21,650 shares in the last quarter. Modera Wealth Management LLC boosted its stake in shares of FedEx by 3.9% in the third quarter. Modera Wealth Management LLC now owns 41,432 shares of the shipping service provider’s stock valued at $10,976,000 after purchasing an additional 1,572 shares during the period. USA Financial Formulas purchased a new position in shares of FedEx in the third quarter valued at $264,000. Finally, EP Wealth Advisors LLC boosted its stake in shares of FedEx by 42.1% in the third quarter. EP Wealth Advisors LLC now owns 2,800 shares of the shipping service provider’s stock valued at $742,000 after purchasing an additional 830 shares during the period. Institutional investors and hedge funds own 73.61% of the company’s stock.

FedEx Trading Up 2.2 %

FDX stock traded up $5.59 on Friday, hitting $264.42. 1,994,950 shares of the company were exchanged, compared to its average volume of 1,178,330. FedEx has a twelve month low of $162.61 and a twelve month high of $270.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.37 and a quick ratio of 1.32. The business’s fifty day moving average is $251.04 and its two-hundred day moving average is $249.57. The stock has a market capitalization of $66.48 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 1.21 and a beta of 1.33.

FedEx (NYSE:FDX – Get Free Report) last issued its quarterly earnings results on Wednesday, September 20th. The shipping service provider reported $4.55 EPS for the quarter, topping the consensus estimate of $3.71 by $0.84. FedEx had a net margin of 4.71% and a return on equity of 16.14%. The firm had revenue of $21.68 billion during the quarter, compared to analyst estimates of $21.74 billion. During the same quarter in the prior year, the business posted $3.44 earnings per share. FedEx’s revenue for the quarter was down 6.5% compared to the same quarter last year. As a group, research analysts forecast that FedEx will post 18.17 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be given a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, December 8th. FedEx’s payout ratio is currently 30.73%.

Analysts Set New Price Targets

Several brokerages recently commented on FDX. Deutsche Bank Aktiengesellschaft raised their price objective on shares of FedEx from $255.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, September 22nd. Morgan Stanley raised their price objective on shares of FedEx from $200.00 to $205.00 and gave the company an “equal weight” rating in a research note on Thursday, September 21st. BMO Capital Markets raised their price objective on shares of FedEx from $280.00 to $290.00 and gave the company a “market perform” rating in a research note on Friday, September 22nd. Stifel Nicolaus raised their price objective on shares of FedEx from $284.00 to $285.00 in a research note on Thursday, October 5th. Finally, Bank of America raised their price objective on shares of FedEx from $309.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, September 21st. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $282.54.

Check Out Our Latest Report on FedEx

About FedEx (Get Free Report)

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.

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Original: MarketBeat News Feed: FedEx Co. (NYSE:FDX) Sees Large Increase in Short Interest