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

FedEx Co. (NYSE:FDX) announced a quarterly dividend on Friday, August 16th, NASDAQ reports. Stockholders of record on Monday, September 9th will be given a dividend of 1.38 per share by the shipping service provider on Tuesday, October 1st. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Monday, September 9th.

FedEx has raised its dividend by an average of 23.8% per year over the last three years. FedEx has a dividend payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.8 %

Shares of NYSE:FDX opened at $283.04 on Friday. The firm has a market capitalization of $69.65 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 1.08 and a beta of 1.17. The business’s 50 day moving average price is $294.25 and its 200-day moving average price is $272.09. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. FedEx has a 1 year low of $224.69 and a 1 year high of $313.84.

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. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. During the same quarter last year, the business earned $4.94 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts forecast that FedEx will post 20.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other FedEx news, Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.72, for a total value of $747,115.20. Following the completion of the transaction, the director now owns 14,745 shares of the company’s stock, valued at approximately $4,345,646.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the transaction, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at $278,293.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.72, for a total transaction of $747,115.20. Following the completion of the sale, the director now directly owns 14,745 shares in the company, valued at approximately $4,345,646.40. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock valued at $9,882,355 in the last ninety days. Company insiders own 8.73% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Stifel Nicolaus reiterated a “buy” rating and set a $327.00 price target (up from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. The Goldman Sachs Group raised their price objective on shares of FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. StockNews.com lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 24th. Wells Fargo & Company lifted their price target on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. Finally, Raymond James lowered their price objective on FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $313.96.

About FedEx

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.