Arizona State Retirement System Purchases New Holdings in FedEx Freight Hldg Co $FDXF

Key Points

• Arizona State Retirement System purchased 31,925 shares of FedEx Freight, valued at approximately $4.8 million, during the second quarter. Several other institutional investors also initiated positions, including California State Teachers Retirement System and Maple Rock Capital Partners.
• Analyst sentiment is generally positive, with FedEx Freight receiving a consensus “Moderate Buy” rating and an average price target of $172.67. Recent targets range from $133 to $180, with Evercore and Wolfe Research issuing “outperform” ratings.
• FDXF opened at $128.05, below its 50-day moving average of $140.99 and well under its 52-week high of $194.27. The company reported quarterly EPS of $0.00, while analysts expect full-year EPS of approximately $4.80.

Arizona State Retirement System purchased a new position in shares of FedEx Freight Hldg Co (NYSE:FDXF - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,925 shares of the company's stock, valued at approximately $4,821,000.

A number of other large investors have also added to or reduced their stakes in the stock. Birch Capital Management LLC bought a new position in FedEx Freight in the 2nd quarter valued at about $1,439,000. Maple Rock Capital Partners Inc. bought a new stake in shares of FedEx Freight during the 2nd quarter worth approximately $68,207,000. Kiltearn Partners LLP acquired a new stake in shares of FedEx Freight during the 2nd quarter worth approximately $1,727,000. California State Teachers Retirement System acquired a new stake in shares of FedEx Freight during the 2nd quarter worth approximately $3,615,235,000. Finally, Twin Lakes Capital Management LLC acquired a new stake in shares of FedEx Freight during the 2nd quarter worth approximately $1,269,000.

Wall Street Analyst Weigh In

Several research analysts have commented on FDXF shares. Truist Financial started coverage on shares of FedEx Freight in a research report on Tuesday, June 2nd. They set a "hold" rating for the company. Sanford C. Bernstein began coverage on FedEx Freight in a report on Thursday. They issued a "market perform" rating and a $133.00 target price on the stock. Zacks Research upgraded FedEx Freight to a "hold" rating in a research note on Tuesday, June 2nd. Evercore assumed coverage on FedEx Freight in a research note on Thursday, June 4th. They issued an "outperform" rating and a $168.00 price target on the stock. Finally, Wolfe Research initiated coverage on FedEx Freight in a report on Thursday, June 4th. They set an "outperform" rating and a $180.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, FedEx Freight has an average rating of "Moderate Buy" and a consensus price target of $172.67.

FedEx Freight Stock Performance

FDXF opened at $128.05 on Friday. The firm has a 50 day moving average of $140.99. 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 quarterly earnings data on Thursday, June 25th. The company reported $0.00 earnings per share (EPS) for the quarter. On average, analysts expect that FedEx Freight Hldg Co will post 4.8 earnings per share for the current year.

FedEx Freight Company 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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