Baird Financial Group Inc. Makes New Investment in FedEx Freight Hldg Co $FDXF

Key Points

• Baird Financial Group acquired 27,488 shares of FedEx Freight, valued at approximately $4.15 million, during the second quarter.
• Several other institutional investors also initiated positions, including Maple Rock Capital Partners, Allianz Asset Management, and Diamond Hill Capital Management.
• FDXF opened at $127.01, well below its 52-week high of $194.27. Analysts maintain a “Moderate Buy” consensus with an average price target of $172.67.

Baird Financial Group Inc. acquired 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 13F filing with the Securities & Exchange Commission. The fund acquired 27,488 shares of the company's stock, valued at approximately $4,151,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Maple Rock Capital Partners Inc. acquired a new stake in FedEx Freight during the 2nd quarter valued at approximately $68,207,000. Allianz Asset Management GmbH acquired a new position in FedEx Freight during the 2nd quarter worth $50,888,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of FedEx Freight in the 2nd quarter worth about $19,666,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of FedEx Freight in the 2nd quarter worth about $10,838,000. Finally, Ancora Advisors LLC acquired a new stake in shares of FedEx Freight in the 2nd quarter valued at about $8,279,000.

FedEx Freight Price Performance

FDXF stock opened at $127.01 on Wednesday. The business has a 50-day moving average of $140.16. FedEx Freight Hldg Co has a fifty-two week low of $122.43 and a fifty-two week 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 for the quarter. On average, analysts anticipate that FedEx Freight Hldg Co will post 4.8 EPS for the current fiscal year.

Analyst Ratings Changes

FDXF has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on FedEx Freight in a report on Tuesday, June 23rd. They set a "buy" rating and a $200.00 target price on the stock. The Goldman Sachs Group initiated coverage on FedEx Freight in a report on Wednesday, July 1st. They issued a "buy" rating and a $186.00 price target for the company. Wall Street Zen raised FedEx Freight to a "hold" rating in a research report on Saturday, June 6th. BMO Capital Markets increased their target price on shares of FedEx Freight from $140.00 to $150.00 and gave the stock a "market perform" rating in a report on Friday, June 26th. Finally, Bank of America initiated coverage on shares of FedEx Freight in a research report on Monday, June 1st. They issued a "buy" rating and a $185.00 price target on the stock. 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 given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $172.67.

About FedEx Freight

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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