FedEx Co. (NYSE:FDX – Get Free Report) 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.
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.
Get Our Latest Stock Report on FDX
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.
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