FedEx Co. (NYSE:FDX) to Issue Quarterly Dividend of $1.38

FedEx Co. (NYSE:FDX) declared a quarterly dividend on Friday, August 16th, NASDAQ reports. Investors of record on Monday, September 9th will be paid a dividend of 1.38 per share by the shipping service provider on Tuesday, October 1st. This represents a $5.52 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Monday, September 9th.

FedEx has increased its dividend payment by an average of 23.8% per year over the last three years. FedEx has a payout ratio of 22.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect FedEx to earn $23.11 per share next year, which means the company should continue to be able to cover its $5.52 annual dividend with an expected future payout ratio of 23.9%.

FedEx Stock Up 0.4 %

Shares of NYSE:FDX opened at $285.40 on Friday. The stock has a market cap of $70.23 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 1.08 and a beta of 1.18. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. FedEx has a 12-month low of $224.69 and a 12-month high of $313.84. The business’s 50 day moving average is $284.45 and its 200 day moving average is $266.37.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.34 by $0.07. The company had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. FedEx’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.94 earnings per share. On average, sell-side analysts forecast that FedEx will post 20.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FDX. StockNews.com raised FedEx from a “buy” rating to a “strong-buy” rating in a research report on Friday. Stifel Nicolaus reissued a “buy” rating and issued a $327.00 price objective (up previously from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. UBS Group cut their price objective on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. Bank of America boosted their price objective on FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, The Goldman Sachs Group boosted their price objective on FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $314.00.

Insiders Place Their Bets

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the transaction, the executive vice president now owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock worth $9,882,355 in the last ninety days. 8.73% of the stock is currently owned by insiders.

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.