Anchor Investment Management LLC Acquires New Shares in FedEx Freight Hldg Co $FDXF

Key Points

• Anchor Investment Management acquired 13,391 shares of FedEx Freight, valued at approximately $2.02 million, during the second quarter. Several other institutional investors also initiated positions in the company.
• FDXF shares fell to $127.01, near the stock’s one-year low of $122.43, while the company reported quarterly EPS of $0.00. Analysts expect approximately $4.80 in full-year EPS.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $172.67; recent targets range from $150 to $186.

Anchor Investment Management LLC bought a new stake in shares of FedEx Freight Hldg Co (NYSE:FDXF - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 13,391 shares of the company's stock, valued at approximately $2,022,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. CYBER HORNET ETFs LLC bought a new position in shares of FedEx Freight during the second quarter valued at $44,000. United Community Bank bought a new stake in FedEx Freight in the 2nd quarter worth about $46,000. Syntax Research Inc. purchased a new position in FedEx Freight in the 2nd quarter worth about $64,000. MCF Advisors LLC purchased a new position in FedEx Freight in the 2nd quarter worth about $65,000. Finally, First Bancorp Inc ME bought a new position in FedEx Freight during the 2nd quarter valued at about $80,000.

FedEx Freight Stock Performance

FDXF stock traded down $2.43 during trading on Tuesday, reaching $127.01. The company's stock had a trading volume of 1,523,824 shares, compared to its average volume of 1,605,887. The company has a fifty day moving average price of $140.51. FedEx Freight Hldg Co has a 1 year low of $122.43 and a 1 year high of $194.27.

FedEx Freight (NYSE:FDXF - Get Free Report) last released its earnings results on Thursday, June 25th. The company reported $0.00 earnings per share (EPS) for the quarter. On average, sell-side analysts forecast that FedEx Freight Hldg Co will post 4.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FDXF has been the topic of a number of recent analyst reports. Stephens began coverage on shares of FedEx Freight in a report on Wednesday, July 8th. They set an "overweight" rating and a $180.00 price target on the stock. Truist Financial assumed coverage on shares of FedEx Freight in a research report on Tuesday, June 2nd. They set a "hold" rating on the stock. BMO Capital Markets lifted their target price on shares of FedEx Freight from $140.00 to $150.00 and gave the stock a "market perform" rating in a research report on Friday, June 26th. JPMorgan Chase & Co. assumed coverage on FedEx Freight in a report on Tuesday, September 8th. They issued an "overweight" rating and a $160.00 price objective for the company. Finally, The Goldman Sachs Group initiated coverage on shares of FedEx Freight in a report on Wednesday, July 1st. They set a "buy" rating and a $186.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, FedEx Freight currently has an average rating of "Moderate Buy" and an average price target of $172.67.

FedEx Freight Profile

FedEx Freight is a less-than-truckload (LTL) transportation company that provides freight shipping services for businesses across North America. Its network transports palletized and other consolidated shipments that do not require a full truckload, serving manufacturers, wholesalers, retailers, distributors and other commercial customers.

The company offers a range of freight solutions, including standard and time-definite LTL delivery, expedited transportation, volume and consolidated freight services, and specialized options for residential or appointment-based deliveries.

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