30,889 Shares of FedEx Freight Hldg Co $FDXF Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments bought 30,889 FedEx Freight shares in the third quarter, worth approximately $3.38 million.
• Other institutions also established positions, including State Street, whose reported stake was valued at about $724 million, and Maple Rock Capital Partners, at about $68 million.
• FedEx Freight beat quarterly earnings estimates, reporting EPS of $1.49 versus $1.38 expected. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $159.

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of FedEx Freight Hldg Co (NYSE:FDXF - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 30,889 shares of the company's stock, valued at approximately $3,379,000.

Several other institutional investors also recently modified their holdings of FDXF. Birch Capital Management LLC acquired a new position in FedEx Freight in the second quarter valued at about $1,439,000. Maple Rock Capital Partners Inc. bought a new stake in shares of FedEx Freight in the second quarter worth about $68,207,000. Engineers Gate Manager LP acquired a new stake in shares of FedEx Freight during the second quarter worth about $2,244,000. State Street Corp acquired a new stake in shares of FedEx Freight during the second quarter worth about $723,747,000. Finally, Kiltearn Partners LLP bought a new position in shares of FedEx Freight during the 2nd quarter valued at about $1,727,000.

FedEx Freight Stock Performance

NYSE:FDXF traded down $0.53 during mid-day trading on Friday, hitting $123.88. The stock had a trading volume of 797,910 shares, compared to its average volume of 1,534,560. FedEx Freight Hldg Co has a twelve month low of $103.47 and a twelve month high of $194.27. The stock has a 50 day simple moving average of $118.37.

FedEx Freight (NYSE:FDXF - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.11. The business had revenue of $2.46 billion during the quarter. As a group, equities analysts forecast that FedEx Freight Hldg Co will post 4.67 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citizens Jmp assumed coverage on shares of FedEx Freight in a research note on Wednesday, July 15th. They issued a "market outperform" rating and a $190.00 target price for the company. Truist Financial dropped their price target on FedEx Freight from $155.00 to $115.00 and set a "hold" rating on the stock in a research note on Wednesday, October 7th. Weiss Ratings upgraded FedEx Freight from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday. Citigroup began coverage on FedEx Freight in a report on Wednesday, July 15th. They set an "outperform" rating for the company. Finally, Raymond James Financial reissued an "outperform" rating and issued a $165.00 target price on shares of FedEx Freight in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $159.00.

FedEx Freight Company Profile

FedEx Freight is a less-than-truckload (LTL) freight transportation company that provides pickup, consolidation, transportation and delivery services for shipments that do not require a full truck. Its customers include businesses across manufacturing, retail, wholesale, healthcare, technology and other industries.

The company offers a range of LTL solutions, including time-definite and day-definite services, standard and economy freight transportation, expedited shipping, volume and multiweight services, and specialized delivery options.

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