FedEx Co. (FDX) to Issue Quarterly Dividend of $0.65 on January 2nd

FedEx Co. (NYSE:FDX) announced a quarterly dividend on Friday, November 16th, RTT News reports. Stockholders of record on Monday, December 10th will be paid a dividend of 0.65 per share by the shipping service provider on Wednesday, January 2nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Friday, December 7th.

FedEx has raised its dividend payment by an average of 37.0% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. FedEx has a dividend payout ratio of 15.0% meaning its dividend is sufficiently covered by earnings. Analysts expect FedEx to earn $20.19 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 12.9%.

Shares of FedEx stock opened at $215.52 on Thursday. FedEx has a 12-month low of $207.90 and a 12-month high of $274.66. The company has a market cap of $56.79 billion, a PE ratio of 14.08, a P/E/G ratio of 0.97 and a beta of 1.35. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 0.79.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Monday, September 17th. The shipping service provider reported $3.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.78 by ($0.32). FedEx had a return on equity of 23.71% and a net margin of 7.16%. The company had revenue of $17.05 billion for the quarter, compared to the consensus estimate of $16.88 billion. During the same quarter in the prior year, the company earned $2.65 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, equities analysts expect that FedEx will post 17.36 earnings per share for the current fiscal year.

In other FedEx news, Director Susan Patricia Griffith bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 17th. The shares were acquired at an average cost of $225.16 per share, with a total value of $225,160.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John A. Edwardson sold 1,160 shares of the company’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $242.35, for a total value of $281,126.00. Following the completion of the transaction, the director now directly owns 32,800 shares in the company, valued at $7,949,080. The disclosure for this sale can be found here. 8.45% of the stock is currently owned by insiders.

A number of equities research analysts have recently issued reports on FDX shares. Zacks Investment Research cut FedEx from a “hold” rating to a “sell” rating in a research note on Tuesday, August 21st. Morgan Stanley reiterated a “hold” rating and set a $242.00 price objective (down previously from $245.00) on shares of FedEx in a research note on Tuesday, September 18th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $305.00 price objective on shares of FedEx in a research note on Tuesday, September 18th. Credit Suisse Group set a $307.00 target price on FedEx and gave the stock a “buy” rating in a report on Tuesday, September 18th. Finally, Loop Capital boosted their target price on FedEx to $318.00 and gave the stock a “buy” rating in a report on Tuesday, September 18th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. FedEx has an average rating of “Buy” and a consensus price target of $285.85.

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FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Dividend History for FedEx (NYSE:FDX)

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