California State Teachers Retirement System Purchases New Shares in FedEx Freight Hldg Co $FDXF

Key Points

• California State Teachers Retirement System acquired 23.94 million FedEx Freight shares valued at approximately $3.62 billion, representing about 16.01% of the company.
• Several other institutional investors also established new positions during the second quarter, including Maple Rock Capital Partners, which invested approximately $68.2 million.
• Analysts give FedEx Freight a consensus “Moderate Buy” rating with a $172.67 price target, while the stock recently opened at $123.97 and has traded between $122.43 and $194.27 over the past year.

California State Teachers Retirement System acquired a new position in 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 fund acquired 23,941,956 shares of the company's stock, valued at approximately $3,615,235,000. California State Teachers Retirement System owned approximately 16.01% of FedEx Freight as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in FDXF. Birch Capital Management LLC bought a new position in shares of FedEx Freight in the second quarter valued at about $1,439,000. Maple Rock Capital Partners Inc. bought a new position in shares of FedEx Freight in the second quarter worth about $68,207,000. Kiltearn Partners LLP acquired a new position in shares of FedEx Freight during the second quarter worth approximately $1,727,000. Twin Lakes Capital Management LLC acquired a new position in shares of FedEx Freight during the second quarter worth approximately $1,269,000. Finally, F&V Capital Management LLC bought a new stake in shares of FedEx Freight during the second quarter valued at approximately $4,785,000.

Analysts Set New Price Targets

FDXF has been the topic of several research reports. Stifel Nicolaus assumed coverage on FedEx Freight in a report on Thursday, June 4th. They set a "hold" rating and a $160.00 price objective on the stock. Raymond James Financial initiated coverage on FedEx Freight in a research note on Wednesday, June 3rd. They issued an "outperform" rating and a $180.00 target price for the company. Sanford C. Bernstein began coverage on FedEx Freight in a report on Thursday. They set a "market perform" rating and a $133.00 price objective for the company. Citizens Jmp initiated coverage on FedEx Freight in a research note on Wednesday, July 15th. They issued a "market outperform" rating and a $190.00 price target on the stock. Finally, Zacks Research raised shares of FedEx Freight to a "hold" rating in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $172.67.

FedEx Freight Price Performance

FedEx Freight stock opened at $123.97 on Friday. The business's 50-day simple moving average is $141.44. FedEx Freight Hldg Co has a one year low of $122.43 and a one year high of $194.27.

FedEx Freight (NYSE:FDXF - Get Free Report) last posted its quarterly earnings results on Thursday, June 25th. The company reported $0.00 earnings per share for the quarter. On average, sell-side analysts expect that FedEx Freight Hldg Co will post 5.48 earnings per share for the current fiscal 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.

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.