Diamond Hill Capital Management LLC Investment Advisor Makes New $19.67 Million Investment in FedEx Freight Hldg Co $FDXF

Key Points

• Diamond Hill Capital Management purchased 130,239 FedEx Freight shares worth approximately $19.67 million, representing about 0.09% ownership.
• FedEx Freight shares opened at $150.34, within a 52-week range of $135.64 to $194.27; the company reported quarterly EPS of $0.00, while analysts expect $5.47 EPS for the current fiscal year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $177.90, despite one “Hold” rating from Stifel Nicolaus.

Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of FedEx Freight Hldg Co (NYSE:FDXF - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 130,239 shares of the company's stock, valued at approximately $19,666,000. Diamond Hill Capital Management LLC Investment Advisor owned approximately 0.09% of FedEx Freight as of its most recent SEC filing.

FedEx Freight Stock Up 0.0%

Shares of FDXF stock opened at $150.34 on Monday. FedEx Freight Hldg Co has a 1-year low of $135.64 and a 1-year high of $194.27. The stock's 50-day moving average is $153.77.

FedEx Freight (NYSE:FDXF - Get Free Report) last released its quarterly earnings results on Thursday, June 25th. The company reported $0.00 earnings per share (EPS) for the quarter. Equities research analysts anticipate that FedEx Freight Hldg Co will post 5.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FDXF shares. Wolfe Research began coverage on shares of FedEx Freight in a research report on Thursday, June 4th. They set an "outperform" rating and a $180.00 price target on the stock. Bank of America started coverage on shares of FedEx Freight in a report on Monday, June 1st. They issued a "buy" rating and a $185.00 price objective for the company. Stephens began coverage on shares of FedEx Freight in a research note on Wednesday, July 8th. They issued an "overweight" rating and a $180.00 target price on the stock. Stifel Nicolaus assumed coverage on FedEx Freight in a report on Thursday, June 4th. They set a "hold" rating and a $160.00 target price on the stock. Finally, Wall Street Zen upgraded FedEx Freight to a "hold" rating in a research report on Saturday, June 6th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $177.90.

FedEx Freight Company Profile

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.

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