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

FedEx Co. (NYSE:FDX) declared a quarterly dividend on Friday, February 14th,RTT News reports. Investors 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 annualized dividend and a yield of 2.07%.

FedEx has increased its dividend payment by an average of 23.0% per year 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 Price Performance

Shares of NYSE FDX opened at $266.77 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The firm’s 50 day simple moving average is $272.65 and its 200-day simple moving average is $279.45. FedEx has a 12 month low of $234.45 and a 12 month high of $313.84. The stock has a market capitalization of $64.25 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 1.07 and a beta of 1.18.

FedEx (NYSE:FDX) last issued its quarterly earnings data 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. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter in the prior year, the firm posted $3.99 earnings per share. The company’s revenue was down .7% compared to the same quarter last year. Analysts expect that FedEx will post 19.14 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on the company. Citigroup raised their price objective on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. UBS Group lifted their target price on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Bank of America upped their price target on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. boosted their price objective on FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $321.87.

Insiders Place Their Bets

In related news, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy B. Lane purchased 333 shares of FedEx stock in a transaction dated Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by 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.