17,046 Shares in FedEx Freight Hldg Co $FDXF Purchased by NEOS Investment Management LLC

Key Points

• NEOS Investment Management purchased 17,046 shares of FedEx Freight, valued at approximately $2.6 million, during the second quarter. Several other institutional investors also initiated positions, including Maple Rock Capital Partners with a stake worth about $68.2 million.
• FedEx Freight shares opened at $129.13, near the lower end of their $123.24–$194.27 one-year range. The company reported quarterly EPS of $0.00, while analysts expect full-year EPS of $5.48.
• Wall Street has a consensus “Moderate Buy” rating and an average price target of $177.90, implying potential upside from current levels; analyst targets range from $150 to $200.

NEOS Investment Management LLC bought a new position in FedEx Freight Hldg Co (NYSE:FDXF - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 17,046 shares of the company's stock, valued at approximately $2,574,000.

A number of other institutional investors have also added to or reduced their stakes in FDXF. Maple Rock Capital Partners Inc. bought a new stake in shares of FedEx Freight during the 2nd quarter valued at about $68,207,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in FedEx Freight in the second quarter valued at approximately $19,666,000. Ancora Advisors LLC bought a new stake in FedEx Freight during the second quarter valued at approximately $8,279,000. Pacific Heights Asset Management LLC bought a new stake in FedEx Freight during the second quarter valued at approximately $6,418,000. Finally, Public Employees Retirement System of Ohio purchased a new position in FedEx Freight in the 2nd quarter worth approximately $5,884,000.

FedEx Freight Trading Down 0.2%

Shares of NYSE FDXF opened at $129.13 on Tuesday. FedEx Freight Hldg Co has a one year low of $123.24 and a one year high of $194.27. The company's 50 day simple moving average is $143.02.

FedEx Freight (NYSE:FDXF - Get Free Report) last announced its quarterly earnings data on Thursday, June 25th. The company reported $0.00 earnings per share for the quarter. As a group, sell-side analysts predict that FedEx Freight Hldg Co will post 5.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Jefferies Financial Group began coverage on shares of FedEx Freight in a report on Tuesday, June 23rd. They issued a "buy" rating and a $200.00 price target on the stock. Stifel Nicolaus initiated coverage on shares of FedEx Freight in a research report on Thursday, June 4th. They issued a "hold" rating and a $160.00 target price for the company. Bank of America initiated coverage on FedEx Freight in a research note on Monday, June 1st. They issued a "buy" rating and a $185.00 target price on the stock. Stephens began coverage on FedEx Freight in a research report on Wednesday, July 8th. They set an "overweight" rating and a $180.00 price target on the stock. Finally, BMO Capital Markets lifted their price target on FedEx Freight from $140.00 to $150.00 and gave the stock a "market perform" rating in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, FedEx Freight has a consensus rating of "Moderate Buy" and an average target price of $177.90.

About FedEx Freight

FedEx Freight is the less-than-truckload (LTL) freight transportation arm of FedEx, providing time-definite, regional, and interregional shipping services for commercial customers in North America. The company specializes in moving palletized freight that is too large for parcel shipment but does not require a full truckload, and it offers services designed to help businesses manage supply chain and distribution needs.

As part of the FedEx family of companies, FedEx Freight operates an extensive network of service centers and transportation routes across the United States, Canada, and Mexico.

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