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.
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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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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