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

FedEx Co. (NYSE:FDXGet Free Report) declared a quarterly dividend on Monday, June 10th, RTT News reports. Stockholders of record on Monday, June 24th will be given a dividend of 1.38 per share by the shipping service provider on Tuesday, July 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.18%. This is a boost from FedEx’s previous quarterly dividend of $1.26.

FedEx has raised its dividend payment by an average of 23.8% per year over the last three years and has increased its dividend annually for the last 3 consecutive years.

FedEx Price Performance

Shares of NYSE:FDX opened at $252.90 on Tuesday. The company has a market capitalization of $62.23 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 0.90 and a beta of 1.16. The company’s 50-day moving average is $260.83 and its 200 day moving average is $256.56. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. FedEx has a fifty-two week low of $222.01 and a fifty-two week high of $291.27.

FedEx (NYSE:FDXGet Free Report) last posted its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter last year, the company posted $3.41 earnings per share. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, equities research analysts forecast that FedEx will post 17.76 earnings per share for the current year.

FedEx announced that its board has initiated a share repurchase program on Thursday, March 21st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 6,145 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the transaction, the director now directly owns 7,865 shares in the company, valued at $2,265,277.30. The disclosure for this sale can be found here. Insiders have sold a total of 136,668 shares of company stock valued at $37,758,773 over the last three months. 8.73% of the stock is owned by company insiders.

Analyst Ratings Changes

FDX has been the subject of several recent research reports. UBS Group reduced their target price on shares of FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a research note on Tuesday, May 21st. Barclays lifted their target price on shares of FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. reduced their target price on shares of FedEx from $301.00 to $296.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. TD Cowen lifted their target price on shares of FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Finally, Jefferies Financial Group lifted their target price on shares of FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $301.92.

Get Our Latest Stock Analysis on FDX

About FedEx

(Get Free Report)

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.

Featured Articles

Dividend History for FedEx (NYSE:FDX)

Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.