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

FedEx Co. (NYSE:FDX) declared a quarterly dividend on Friday, February 14th,RTT News reports. Stockholders of record on Monday, March 10th will be given 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%.

FedEx has raised its dividend by an average of 23.0% annually over the last three years. FedEx has a dividend payout ratio of 22.1% indicating that its dividend is sufficiently covered by earnings. Equities research 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 %

FDX opened at $267.83 on Friday. The company has a 50 day moving average of $272.65 and a 200 day moving average of $279.45. The company has a market cap of $64.51 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 1.07 and a beta of 1.18. FedEx has a 12 month low of $234.45 and a 12 month high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

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, beating 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 firm had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same quarter in the previous year, the firm posted $3.99 EPS. The company’s revenue for the quarter was down .7% compared to the same quarter last year. On average, sell-side analysts expect that FedEx will post 19.14 EPS for the current year.

Insider Activity at FedEx

In other news, EVP John W. Dietrich bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was acquired at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the acquisition, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. TD Cowen boosted their price objective on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. Barclays upped their target price on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Raymond James upped their price target on shares of FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. BMO Capital Markets upped their target price on shares of FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Finally, UBS Group lifted their price objective on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $321.87.

FedEx Company Profile

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.