451,700 Shares in FedEx Freight Hldg Co $FDXF Acquired by Maple Rock Capital Partners Inc.

Key Points

• Maple Rock Capital Partners acquired 451,700 FedEx Freight shares worth approximately $68.2 million, giving it a 0.30% stake and making FDXF its 23rd-largest holding.
• Several other institutional investors also initiated positions during the second quarter, including Diamond Hill Capital Management, which purchased a stake valued at about $19.7 million.
• Analysts maintain a “Moderate Buy” consensus on FDXF, with an average price target of $177.90 versus the stock’s recent price of $133.88.

Maple Rock Capital Partners Inc. purchased a new stake in FedEx Freight Hldg Co (NYSE:FDXF - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 451,700 shares of the company's stock, valued at approximately $68,207,000. FedEx Freight makes up approximately 1.4% of Maple Rock Capital Partners Inc.'s investment portfolio, making the stock its 23rd biggest holding. Maple Rock Capital Partners Inc. owned about 0.30% of FedEx Freight as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Kiltearn Partners LLP acquired a new stake in FedEx Freight during the second quarter worth approximately $1,727,000. Ancora Advisors LLC acquired a new position in shares of FedEx Freight in the 2nd quarter valued at $8,279,000. F&V Capital Management LLC purchased a new position in shares of FedEx Freight in the 2nd quarter valued at $4,785,000. Pacific Heights Asset Management LLC purchased a new position in shares of FedEx Freight in the 2nd quarter valued at $6,418,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in FedEx Freight during the 2nd quarter worth $19,666,000.

FedEx Freight Stock Up 0.3%

FDXF stock opened at $133.88 on Tuesday. The firm has a fifty day simple moving average of $146.02. FedEx Freight Hldg Co has a 12 month low of $127.65 and a 12 month high of $194.27.

FedEx Freight (NYSE:FDXF - Get Free Report) last issued its quarterly earnings data on Thursday, June 25th. The company reported $0.00 earnings per share (EPS) for the quarter. On average, equities research analysts forecast that FedEx Freight Hldg Co will post 5.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FDXF shares. Zacks Research raised shares of FedEx Freight to a "hold" rating in a research report on Tuesday, June 2nd. Raymond James Financial started coverage on FedEx Freight in a report on Wednesday, June 3rd. They set an "outperform" rating and a $180.00 price objective on the stock. Evercore assumed coverage on FedEx Freight in a report on Thursday, June 4th. They issued an "outperform" rating and a $168.00 target price for the company. The Goldman Sachs Group began coverage on FedEx Freight in a research report on Wednesday, July 1st. They issued a "buy" rating and a $186.00 target price for the company. Finally, Truist Financial assumed coverage on FedEx Freight in a research note on Tuesday, June 2nd. They set a "hold" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, FedEx Freight currently has a consensus rating of "Moderate Buy" and an average price target of $177.90.

FedEx Freight Company Profile

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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