Birch Capital Management LLC Buys New Position in FedEx Freight Hldg Co $FDXF

Key Points

• Birch Capital Management initiated a position in FedEx Freight during the second quarter, purchasing 9,528 shares valued at approximately $1.44 million. Several other institutional investors also established new stakes.
• FedEx Freight shares opened at $127.62, near their 52-week low of $126.53 and below the 50-day moving average of $145.22. The company reported quarterly EPS of $0.00, while analysts expect $5.48 in full-year EPS.
• Analyst sentiment is generally positive, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $177.90; individual targets range as high as $200.

Birch Capital Management LLC bought a new position in FedEx Freight Hldg Co (NYSE:FDXF - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,528 shares of the company's stock, valued at approximately $1,439,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. First Bancorp Inc ME acquired a new stake in shares of FedEx Freight during the 2nd quarter worth approximately $80,000. Investors Research Corp acquired a new position in shares of FedEx Freight during the 2nd quarter valued at $80,000. Sumitomo Life Insurance Co. acquired a new position in shares of FedEx Freight during the 2nd quarter valued at $194,000. Legacy Financial Advisors Inc. bought a new position in FedEx Freight during the second quarter worth $213,000. Finally, Proficio Capital Partners LLC bought a new position in FedEx Freight during the second quarter worth $258,000.

FedEx Freight Stock Performance

FedEx Freight stock opened at $127.62 on Wednesday. FedEx Freight Hldg Co has a 1-year low of $126.53 and a 1-year high of $194.27. The firm has a fifty day simple moving average of $145.22.

FedEx Freight (NYSE:FDXF - Get Free Report) last posted its earnings results on Thursday, June 25th. The company reported $0.00 EPS for the quarter. Equities research analysts predict that FedEx Freight Hldg Co will post 5.48 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Zacks Research upgraded shares of FedEx Freight to a "hold" rating in a report on Tuesday, June 2nd. The Goldman Sachs Group assumed coverage on FedEx Freight in a research note on Wednesday, July 1st. They issued a "buy" rating and a $186.00 target price for the company. Stifel Nicolaus initiated coverage on FedEx Freight in a research note on Thursday, June 4th. They set a "hold" rating and a $160.00 price target on the stock. Citigroup assumed coverage on FedEx Freight in a report on Wednesday, July 15th. They issued an "outperform" rating on the stock. Finally, Jefferies Financial Group assumed coverage on FedEx Freight in a report on Tuesday, June 23rd. They issued a "buy" rating and a $200.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, FedEx Freight currently has an average rating of "Moderate Buy" and a consensus target price of $177.90.

About FedEx Freight

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.

Want to see what other hedge funds are holding FDXF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Freight Hldg Co (NYSE:FDXF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source