FedEx Co. (FDX) To Go Ex-Dividend on September 9th

FedEx Co. (NYSE:FDX) announced a quarterly dividend on Friday, August 16th, NASDAQ reports. Investors of record on Monday, September 9th will be given a dividend of 1.38 per share by the shipping service provider on Tuesday, October 1st. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Monday, September 9th.

FedEx has increased its dividend by an average of 23.8% per year over the last three years. FedEx has a dividend payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect FedEx to earn $23.11 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 23.9%.

FedEx Trading Down 0.7 %

Shares of FDX opened at $283.37 on Friday. FedEx has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The company’s fifty day moving average is $294.25 and its 200 day moving average is $271.87. The stock has a market capitalization of $69.73 billion, a PE ratio of 16.45, a P/E/G ratio of 1.08 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. The business had revenue of $22.11 billion for the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $4.94 earnings per share. Sell-side analysts expect that FedEx will post 20.87 earnings per share for the current fiscal year.

Insider Transactions at FedEx

In related news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the transaction, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FedEx news, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.72, for a total value of $747,115.20. Following the sale, the director now directly owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,944 shares of company stock worth $9,882,355. Company insiders own 8.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on FDX. Argus boosted their price objective on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Raymond James dropped their target price on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, June 24th. UBS Group reduced their target price on shares of FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $327.00 price target (up previously from $303.00) on shares of FedEx in a report on Wednesday, June 26th. Finally, TD Cowen started coverage on FedEx in a report on Thursday, August 22nd. They set a “buy” rating and a $334.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $313.96.

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.