FedEx shares have risen 61% over the past year and 32% year-to-date, drawing praise from CNBC's Jim Cramer for CEO Raj Subramaniam and the recent spinoff of its freight business. The freight division was divested on June 1st, with the new entity trading on the NYSE under ticker FDXF, while FedEx retains a 19.9% stake. Shortly after, FedEx announced a 5% increase in its annual dividend rate. Cramer commended Subramaniam's leadership, noting his anticipation of the freight recession and recovery, and called the spinoff a good move.
FedEx CorporationJim Cramer's praise and the freight spinoff, plus dividend increase, are positive financial/valuation events.