FedEx Co. (FDX) Announces Quarterly Dividend of $0.65

FedEx Co. (NYSE:FDX) announced a quarterly dividend on Friday, November 16th, RTT News reports. Stockholders of record on Monday, December 10th will be given a dividend of 0.65 per share by the shipping service provider on Wednesday, January 2nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, December 7th.

FedEx has raised its dividend payment by an average of 37.0% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. FedEx has a dividend payout ratio of 15.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect FedEx to earn $20.19 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 12.9%.

Shares of FDX stock opened at $215.52 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 0.79. FedEx has a twelve month low of $207.90 and a twelve month high of $274.66. The firm has a market cap of $56.79 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 0.97 and a beta of 1.35.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Monday, September 17th. The shipping service provider reported $3.46 earnings per share for the quarter, missing the consensus estimate of $3.78 by ($0.32). FedEx had a return on equity of 23.71% and a net margin of 7.16%. The business had revenue of $17.05 billion for the quarter, compared to the consensus estimate of $16.88 billion. During the same quarter in the prior year, the company earned $2.65 earnings per share. FedEx’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, research analysts expect that FedEx will post 17.36 earnings per share for the current fiscal year.

In other news, Director Susan Patricia Griffith bought 1,000 shares of the company’s stock in a transaction on Wednesday, October 17th. The stock was purchased at an average cost of $225.16 per share, for a total transaction of $225,160.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John A. Edwardson sold 1,160 shares of the stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $242.35, for a total value of $281,126.00. Following the completion of the transaction, the director now owns 32,800 shares of the company’s stock, valued at $7,949,080. The disclosure for this sale can be found here. 8.45% of the stock is currently owned by company insiders.

Several analysts recently weighed in on the company. Morgan Stanley restated a “hold” rating and set a $242.00 price objective (down from $245.00) on shares of FedEx in a research report on Tuesday, September 18th. Credit Suisse Group set a $307.00 price objective on FedEx and gave the stock a “buy” rating in a research report on Tuesday, September 18th. JPMorgan Chase & Co. restated a “buy” rating and set a $305.00 price objective on shares of FedEx in a research report on Tuesday, September 18th. Zacks Investment Research downgraded FedEx from a “hold” rating to a “sell” rating in a research report on Tuesday, August 21st. Finally, Berenberg Bank assumed coverage on FedEx in a research report on Friday, September 21st. They set a “buy” rating and a $300.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. FedEx has a consensus rating of “Buy” and an average price target of $285.85.

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About FedEx

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Dividend History for FedEx (NYSE:FDX)

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