Corient Private Wealth LP Makes New Investment in FedEx Freight Hldg Co $FDXF

Key Points

• Corient Private Wealth acquired 42,346 shares of FedEx Freight, valued at approximately $6.4 million, during the second quarter. Several other institutional investors also initiated positions.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $172.67, well above the recent share price.
• FDXF opened at $120.25, near its 52-week low, after reporting quarterly earnings per share of $0.00, highlighting weak near-term profitability despite planned growth initiatives such as a NASCAR Truck Series sponsorship.

Corient Private Wealth LP purchased a new position in shares of FedEx Freight Hldg Co (NYSE:FDXF - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 42,346 shares of the company's stock, valued at approximately $6,394,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FDXF. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of FedEx Freight during the second quarter valued at $10,838,000. CYBER HORNET ETFs LLC purchased a new stake in FedEx Freight in the 2nd quarter valued at $44,000. VELA Investment Management LLC purchased a new stake in FedEx Freight in the 2nd quarter valued at $206,000. Washington Trust Advisors Inc. acquired a new position in shares of FedEx Freight during the 2nd quarter valued at about $347,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of FedEx Freight during the 2nd quarter valued at about $375,000.

Key Stories Impacting FedEx Freight

Here are the key news stories impacting FedEx Freight this week:

• Positive Sentiment: FedEx Freight announced a long-term partnership with NASCAR to become the entitlement sponsor of the NASCAR Truck Series beginning in 2027. The deal should increase brand visibility and marketing reach, although its financial impact will likely take time to develop. FedEx Freight announces partnership with NASCAR Truck Series
• Positive Sentiment: Brokerages set a consensus price target of $172.67 for FDXF, well above its recent trading level, indicating substantial potential upside if the company meets expectations. FedEx Freight receives consensus target price
• Neutral Sentiment: FedEx Freight experienced unusually high options activity. Elevated derivatives volume can signal increased investor interest or hedging, but it does not establish a clear direction for the stock. FedEx Freight sees unusually high options volume
• Negative Sentiment: The latest earnings report showed earnings per share of $0.00, while the stock remains close to its 52-week low. That weak near-term profitability backdrop may be outweighing the longer-term benefits of the NASCAR sponsorship and optimistic analyst targets.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FDXF shares. Citigroup assumed coverage on shares of FedEx Freight in a research report on Wednesday, July 15th. They set an "outperform" rating for the company. Evercore began coverage on shares of FedEx Freight in a research note on Thursday, June 4th. They issued an "outperform" rating and a $168.00 price target for the company. Stifel Nicolaus began coverage on shares of FedEx Freight in a research report on Thursday, June 4th. They set a "hold" rating and a $160.00 price target on the stock. Truist Financial initiated coverage on FedEx Freight in a report on Tuesday, June 2nd. They issued a "hold" rating on the stock. Finally, Sanford C. Bernstein assumed coverage on FedEx Freight in a research report on Thursday, September 10th. They issued a "market perform" rating and a $133.00 price objective for the company. 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $172.67.

FedEx Freight Stock Down 1.7%

Shares of NYSE FDXF opened at $120.25 on Friday. FedEx Freight Hldg Co has a 12 month low of $120.01 and a 12 month high of $194.27. The business's 50-day moving average price is $138.49.

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

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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