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.
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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