FedEx Co. (NYSE:FDX – Get Rating) announced a quarterly dividend on Tuesday, June 14th, RTT News reports. Stockholders of record on Monday, June 27th will be paid a dividend of 1.15 per share by the shipping service provider on Monday, July 11th. This represents a $4.60 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, June 24th. This is a boost from FedEx’s previous quarterly dividend of $0.75.
FedEx has raised its dividend by an average of 5.8% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. FedEx has a payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect FedEx to earn $22.67 per share next year, which means the company should continue to be able to cover its $4.60 annual dividend with an expected future payout ratio of 20.3%.
Shares of FDX opened at $229.02 on Thursday. FedEx has a twelve month low of $192.82 and a twelve month high of $304.59. The company has a market cap of $59.36 billion, a P/E ratio of 12.02, a P/E/G ratio of 0.85 and a beta of 1.31. The company has a current ratio of 1.39, a quick ratio of 1.35 and a debt-to-equity ratio of 0.83. The company’s fifty day simple moving average is $211.98 and its 200-day simple moving average is $227.23.
Several institutional investors have recently bought and sold shares of FDX. Global Wealth Management Investment Advisory Inc. purchased a new stake in shares of FedEx in the 1st quarter valued at approximately $35,000. Worth Asset Management LLC purchased a new stake in shares of FedEx in the 1st quarter valued at approximately $41,000. Loomis Sayles & Co. L P lifted its holdings in shares of FedEx by 553.3% in the 1st quarter. Loomis Sayles & Co. L P now owns 392 shares of the shipping service provider’s stock worth $91,000 after acquiring an additional 332 shares during the last quarter. Covestor Ltd lifted its holdings in shares of FedEx by 77.7% in the 1st quarter. Covestor Ltd now owns 636 shares of the shipping service provider’s stock worth $147,000 after acquiring an additional 278 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its holdings in shares of FedEx by 96.5% in the 1st quarter. Zions Bancorporation N.A. now owns 853 shares of the shipping service provider’s stock worth $197,000 after acquiring an additional 419 shares during the last quarter. 79.92% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently commented on FDX shares. The Goldman Sachs Group cut their price target on shares of FedEx from $331.00 to $291.00 and set a “buy” rating on the stock in a report on Tuesday, June 7th. StockNews.com downgraded shares of FedEx from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Berenberg Bank set a $330.00 price target on shares of FedEx in a research note on Friday, May 27th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of FedEx from $310.00 to $298.00 and set a “buy” rating for the company in a research note on Monday, March 21st. Finally, Sanford C. Bernstein set a $333.00 price target on shares of FedEx in a research note on Friday, March 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $298.30.
About FedEx (Get Rating)
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.
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