FedEx Co. (NYSE:FDX – Get Rating) declared a quarterly dividend on Tuesday, June 14th, RTT News reports. Stockholders of record on Monday, June 27th will be given a dividend of 1.15 per share by the shipping service provider on Monday, July 11th. This represents a $4.60 annualized dividend and a dividend yield of 2.03%. This is a boost from FedEx’s previous quarterly dividend of $0.75.
FedEx has raised its dividend by an average of 5.8% per year over the last three years and has raised its dividend every year for the last 1 years. FedEx has a payout ratio of 13.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect FedEx to earn $22.60 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 13.3%.
Shares of FDX stock traded up $25.76 during midday trading on Tuesday, reaching $226.74. 256,619 shares of the stock were exchanged, compared to its average volume of 1,947,876. The company has a current ratio of 1.39, a quick ratio of 1.35 and a debt-to-equity ratio of 0.83. The company’s 50 day moving average is $208.54 and its two-hundred day moving average is $227.38. FedEx has a 1 year low of $192.82 and a 1 year high of $304.59. The firm has a market cap of $58.77 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 0.76 and a beta of 1.31.
FedEx (NYSE:FDX – Get Rating) last announced its earnings results on Thursday, March 17th. The shipping service provider reported $4.59 earnings per share for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.10). The company had revenue of $23.64 billion for the quarter, compared to analysts’ expectations of $23.33 billion. FedEx had a net margin of 5.60% and a return on equity of 20.67%. FedEx’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.47 earnings per share. As a group, equities analysts expect that FedEx will post 20.6 EPS for the current fiscal year.
In other FedEx news, Director Paul S. Walsh sold 3,720 shares of the company’s stock in a transaction that occurred on Thursday, April 14th. The stock was sold at an average price of $206.42, for a total transaction of $767,882.40. Following the completion of the sale, the director now owns 14,000 shares of the company’s stock, valued at $2,889,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.16% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. OLD Mission Capital LLC acquired a new stake in FedEx in the third quarter worth about $219,000. Penserra Capital Management LLC raised its position in FedEx by 23.9% in the 4th quarter. Penserra Capital Management LLC now owns 1,103 shares of the shipping service provider’s stock valued at $284,000 after buying an additional 213 shares during the last quarter. NEXT Financial Group Inc increased its position in shares of FedEx by 14.2% during the 4th quarter. NEXT Financial Group Inc now owns 983 shares of the shipping service provider’s stock worth $254,000 after purchasing an additional 122 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in shares of FedEx during the 4th quarter worth approximately $206,000. Finally, Geller Advisors LLC acquired a new position in shares of FedEx during the 1st quarter worth approximately $203,000. Hedge funds and other institutional investors own 79.92% of the company’s stock.
FDX has been the subject of several analyst reports. The Goldman Sachs Group decreased their price objective on shares of FedEx from $331.00 to $291.00 and set a “buy” rating for the company in a research note on Tuesday, June 7th. StockNews.com raised shares of FedEx from a “buy” rating to a “strong-buy” rating in a report on Monday. Robert W. Baird reaffirmed an “outperform” rating and issued a $300.00 price target on shares of FedEx in a report on Monday, March 21st. Barclays lowered their price objective on shares of FedEx from $345.00 to $320.00 in a research note on Friday, March 18th. Finally, KeyCorp decreased their target price on shares of FedEx from $325.00 to $300.00 and set an “overweight” rating for the company in a research report on Monday, March 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, FedEx currently has an average rating of “Buy” and an average target price of $298.30.
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company’s FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.
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