FedEx Co. (FDX) To Go Ex-Dividend on March 10th

FedEx Co. (NYSE:FDX) declared a quarterly dividend on Friday, February 14th,RTT News reports. Stockholders of record on Monday, March 10th will be paid a dividend of 1.38 per share by the shipping service provider on Tuesday, April 1st. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, March 10th.

FedEx has raised its dividend by an average of 23.0% annually over the last three years. FedEx has a payout ratio of 22.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect FedEx to earn $21.65 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 25.5%.

FedEx Stock Up 1.8 %

FedEx stock opened at $267.83 on Friday. The firm has a market cap of $64.51 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.07 and a beta of 1.18. FedEx has a 52-week low of $234.45 and a 52-week high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a 50 day moving average price of $272.40 and a two-hundred day moving average price of $279.23.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the firm earned $3.99 earnings per share. Equities analysts predict that FedEx will post 19.14 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on FDX shares. Raymond James upped their target price on FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Barclays increased their price target on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price objective on shares of FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. TD Cowen raised their price target on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, Stephens dropped their price objective on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $321.87.

Insider Activity at FedEx

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is owned by company insiders.

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.