FedEx Corporation (NYSE:FDX) Declares $1.22 Quarterly Dividend

FedEx Corporation (NYSE:FDX) announced a quarterly dividend on Monday, June 8th. Stockholders of record on Monday, June 22nd will be given a dividend of 1.22 per share by the shipping service provider on Tuesday, July 7th. This represents a c) annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, June 22nd.

FedEx has raised its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. FedEx has a payout ratio of 25.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect FedEx to earn $21.55 per share next year, which means the company should continue to be able to cover its $5.80 annual dividend with an expected future payout ratio of 26.9%.

FedEx Stock Down 0.3%

FDX opened at $329.96 on Tuesday. The firm’s 50-day simple moving average is $373.31 and its 200-day simple moving average is $341.31. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. FedEx has a twelve month low of $172.88 and a twelve month high of $341.14. The firm has a market cap of $78.73 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 1.51 and a beta of 1.28.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.12 by $1.13. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The business had revenue of $24 billion for the quarter, compared to analyst estimates of $23.44 billion. During the same quarter in the prior year, the firm earned $4.51 EPS. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that FedEx will post 19.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other FedEx news, EVP Kawal Preet sold 4,900 shares of the firm’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the completion of the sale, the executive vice president owned 10,953 shares of the company’s stock, valued at $4,029,499.17. This trade represents a 30.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gina F. Adams sold 20,450 shares of the firm’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total value of $7,493,902.50. Following the sale, the executive vice president directly owned 19,403 shares of the company’s stock, valued at $7,110,229.35. This represents a 51.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 48,104 shares of company stock worth $17,599,006. Company insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On FedEx

A number of institutional investors have recently modified their holdings of FDX. Brighton Jones LLC boosted its position in shares of FedEx by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock valued at $514,000 after acquiring an additional 207 shares during the period. Empowered Funds LLC raised its stake in FedEx by 78.9% during the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock worth $2,514,000 after acquiring an additional 4,548 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in FedEx during the second quarter worth about $586,000. Quantbot Technologies LP acquired a new position in FedEx during the second quarter worth about $186,000. Finally, Jump Financial LLC bought a new stake in shares of FedEx during the second quarter worth about $456,000. Institutional investors own 84.47% of the company’s stock.

About FedEx

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.