75,618 FedEx Freight Hldg Co $FDXF Shares Sold by Sentry LLC

Key Points

• Sentry LLC cut its FedEx Freight stake by 42.8% in the third quarter, selling 75,618 shares and retaining 100,991 shares worth about $11.0 million.
• FedEx Freight reported quarterly earnings of $1.49 per share, beating the $1.38 analyst consensus, on revenue of $2.46 billion.
• Analysts’ consensus rating is Moderate Buy, with a $159 average price target; shares opened at $129.38, while other institutional investors reported both increasing and initiating positions.

Sentry LLC lessened its holdings in FedEx Freight Hldg Co (NYSE:FDXF - Free Report) by 42.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,991 shares of the company's stock after selling 75,618 shares during the period. FedEx Freight comprises 3.9% of Sentry LLC's investment portfolio, making the stock its 5th biggest holding. Sentry LLC owned 0.07% of FedEx Freight worth $11,046,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Rakuten Investment Management Inc. boosted its position in shares of FedEx Freight by 16.9% during the third quarter. Rakuten Investment Management Inc. now owns 20,983 shares of the company's stock valued at $2,351,000 after buying an additional 3,031 shares during the last quarter. Integrity Alliance LLC. raised its position in FedEx Freight by 17.6% in the 3rd quarter. Integrity Alliance LLC. now owns 3,453 shares of the company's stock valued at $378,000 after buying an additional 518 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in FedEx Freight by 10.0% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 14,676 shares of the company's stock valued at $1,605,000 after buying an additional 1,340 shares during the last quarter. First Nebraska Trust Co purchased a new stake in FedEx Freight in the 3rd quarter valued at $1,570,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in FedEx Freight during the 3rd quarter valued at $3,379,000.

FedEx Freight Stock Down 0.7%

Shares of FedEx Freight stock opened at $129.38 on Thursday. FedEx Freight Hldg Co has a 1 year low of $103.47 and a 1 year high of $194.27. The company's fifty day simple moving average is $118.70.

FedEx Freight (NYSE:FDXF - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.11. The company had revenue of $2.46 billion during the quarter. Equities analysts expect that FedEx Freight Hldg Co will post 4.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Citigroup initiated coverage on shares of FedEx Freight in a report on Wednesday, July 15th. They set an "outperform" rating on the stock. Stifel Nicolaus lowered their target price on shares of FedEx Freight from $160.00 to $129.00 and set a "hold" rating for the company in a report on Thursday, October 8th. Stephens initiated coverage on shares of FedEx Freight in a research report on Wednesday, July 8th. They set an "overweight" rating and a $180.00 price target on the stock. Citizens Jmp assumed coverage on shares of FedEx Freight in a report on Wednesday, July 15th. They set a "market outperform" rating and a $190.00 price target on the stock. Finally, Sanford C. Bernstein assumed coverage on shares of FedEx Freight in a research report on Thursday, September 10th. They issued a "market perform" rating and a $133.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, FedEx Freight currently has a consensus rating of "Moderate Buy" and a consensus 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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