FedEx Co. (FDX) To Go Ex-Dividend on March 10th

FedEx Co. (NYSE:FDX) declared a quarterly dividend on Friday, February 14th, RTT News reports. Investors of record on Monday, March 10th will be given a dividend of 1.38 per share by the shipping service provider on Tuesday, April 1st. This represents a $5.52 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, March 10th.

FedEx has raised its dividend by an average of 23.0% annually over the last three years. FedEx has a payout ratio of 22.0% meaning its dividend is sufficiently covered by earnings. Analysts expect FedEx to earn $21.65 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 25.5%.

FedEx Stock Performance

NYSE:FDX opened at $253.80 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $61.13 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 1.11 and a beta of 1.23. The firm’s fifty day simple moving average is $266.55 and its 200 day simple moving average is $276.26. FedEx has a twelve month low of $242.92 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same quarter in the previous year, the business posted $3.99 EPS. The firm’s revenue was down .7% compared to the same quarter last year. As a group, equities research analysts expect that FedEx will post 19.14 earnings per share for the current fiscal year.

Insider Transactions at FedEx

In other FedEx news, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was acquired at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the sale, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Institutional Investors Weigh In On FedEx

A hedge fund recently raised its stake in FedEx stock. Brighton Jones LLC lifted its position in FedEx Co. (NYSE:FDX) by 12.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,825 shares of the shipping service provider’s stock after acquiring an additional 207 shares during the quarter. Brighton Jones LLC’s holdings in FedEx were worth $514,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FDX shares. JPMorgan Chase & Co. cut their target price on shares of FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Stifel Nicolaus cut their target price on shares of FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Barclays upped their target price on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Finally, Raymond James lowered shares of FedEx from an “outperform” rating to a “market perform” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $318.58.

About FedEx

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.