FedEx Corporation (NYSE:FDX) Announces $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 paid a dividend of 1.22 per share by the shipping service provider on Tuesday, July 7th. This represents a c) dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, June 22nd.

FedEx has increased its dividend payment by an average of 0.2%per year 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% indicating that its dividend is sufficiently covered by earnings. 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%

Shares of NYSE FDX opened at $329.96 on Tuesday. The company has a 50 day simple moving average of $373.31 and a 200-day simple moving average of $341.31. The company has a market capitalization of $78.73 billion, a P/E ratio of 17.56, a P/E/G ratio of 1.51 and a beta of 1.28. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44. FedEx has a 1 year low of $172.88 and a 1 year high of $341.14.

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

Insider Buying and Selling at FedEx

In other FedEx news, EVP Kawal Preet sold 4,900 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total value of $1,802,661.00. Following the completion of the transaction, 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 filing with the SEC, which is available at this link. Also, EVP Tracy B. Brightman sold 16,959 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the transaction, the executive vice president directly owned 11,052 shares of the company’s stock, valued at $4,017,070.44. This represents a 60.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 48,104 shares of company stock worth $17,599,006. 0.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FedEx

Institutional investors have recently modified their holdings of the company. Applied Finance Capital Management LLC purchased a new stake in shares of FedEx during the 3rd quarter worth $727,000. Sivia Capital Partners LLC purchased a new stake in shares of FedEx during the 2nd quarter worth $586,000. Franklin Resources Inc. lifted its position in shares of FedEx by 5.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,814,938 shares of the shipping service provider’s stock worth $1,135,411,000 after purchasing an additional 269,567 shares during the last quarter. CWM LLC lifted its position in shares of FedEx by 32.2% during the 4th quarter. CWM LLC now owns 108,031 shares of the shipping service provider’s stock worth $31,206,000 after purchasing an additional 26,322 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of FedEx by 12.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 295,489 shares of the shipping service provider’s stock worth $69,679,000 after purchasing an additional 33,368 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

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.