FedEx Corporation Announces Quarterly Dividend of $0.50 (FDX)
FedEx Corporation (NYSE:FDX) announced a quarterly dividend on Friday, August 18th, RTT News reports. Stockholders of record on Monday, September 11th will be paid a dividend of 0.50 per share by the shipping service provider on Monday, October 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.97%.
FedEx Corporation has increased its dividend payment by an average of 43.5% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. FedEx Corporation has a payout ratio of 14.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect FedEx Corporation to earn $15.35 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 13.0%.
Shares of FedEx Corporation (FDX) traded down 0.17% during mid-day trading on Friday, hitting $205.02. The stock had a trading volume of 186,604 shares. FedEx Corporation has a 52-week low of $158.20 and a 52-week high of $219.99. The firm has a 50 day moving average price of $211.96 and a 200 day moving average price of $199.04. The firm has a market cap of $55.00 billion, a PE ratio of 18.52 and a beta of 1.27.
FedEx Corporation (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.88 by $0.37. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The firm had revenue of $15.70 billion for the quarter, compared to analysts’ expectations of $15.56 billion. During the same quarter in the previous year, the firm posted $3.30 EPS. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. Equities analysts predict that FedEx Corporation will post $13.56 EPS for the current year.
Several research firms have issued reports on FDX. Stifel Nicolaus reiterated a “neutral” rating on shares of FedEx Corporation in a research report on Wednesday. Cowen and Company reissued a “buy” rating and set a $240.00 price target on shares of FedEx Corporation in a research note on Thursday, August 10th. Credit Suisse Group reissued a “buy” rating and set a $237.00 price target on shares of FedEx Corporation in a research note on Monday, August 7th. BidaskClub lowered FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Vetr raised FedEx Corporation from a “sell” rating to a “hold” rating and set a $206.26 price target on the stock in a research note on Tuesday, July 18th. Six research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $221.78.
In other news, insider Henry J. Maier sold 12,580 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $209.50, for a total transaction of $2,635,510.00. Following the transaction, the insider now owns 38,177 shares of the company’s stock, valued at $7,998,081.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John L. Merino sold 7,200 shares of the stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $211.26, for a total transaction of $1,521,072.00. Following the transaction, the vice president now directly owns 33,908 shares in the company, valued at approximately $7,163,404.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,757 shares of company stock valued at $16,447,426. 8.67% of the stock is currently owned by corporate insiders.
FedEx Corporation Company Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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