F&V Capital Management LLC Buys New Position in FedEx Freight Hldg Co $FDXF

Key Points

• F&V Capital Management acquired 31,691 shares of FedEx Freight, valued at approximately $4.8 million, during the second quarter. Several other institutional investors also initiated positions.
• Analysts are generally positive on FDXF, with a consensus rating of “Moderate Buy” and an average price target of $177.90; coverage includes buy and outperform ratings from Goldman Sachs, Bank of America, Wolfe Research, and Raymond James.
• FDXF opened at $133.07, compared with a 52-week range of $127.65 to $194.27. The company reported quarterly EPS of $0.00, while analysts expect full-year EPS of approximately $5.48.

F&V Capital Management LLC bought a new stake in shares of FedEx Freight Hldg Co (NYSE:FDXF - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 31,691 shares of the company's stock, valued at approximately $4,785,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FDXF. First Bancorp Inc ME bought a new position in shares of FedEx Freight in the second quarter valued at approximately $80,000. Sumitomo Life Insurance Co. bought a new stake in FedEx Freight during the second quarter worth approximately $194,000. Archer Investment Corp bought a new stake in FedEx Freight during the second quarter worth approximately $276,000. Greenleaf Trust acquired a new stake in FedEx Freight in the second quarter worth approximately $340,000. Finally, Navellier & Associates Inc. acquired a new stake in FedEx Freight in the second quarter worth approximately $364,000.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FDXF shares. Wolfe Research assumed coverage on FedEx Freight in a research report on Thursday, June 4th. They set an "outperform" rating and a $180.00 price target on the stock. The Goldman Sachs Group assumed coverage on FedEx Freight in a research note on Wednesday, July 1st. They set a "buy" rating and a $186.00 target price for the company. Bank of America initiated coverage on FedEx Freight in a report on Monday, June 1st. They set a "buy" rating and a $185.00 target price on the stock. Raymond James Financial started coverage on shares of FedEx Freight in a research report on Wednesday, June 3rd. They issued an "outperform" rating and a $180.00 price target on the stock. Finally, Truist Financial began coverage on shares of FedEx Freight in a report on Tuesday, June 2nd. They issued a "hold" rating for the company. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, FedEx Freight has an average rating of "Moderate Buy" and a consensus price target of $177.90.

FedEx Freight Price Performance

Shares of NYSE:FDXF opened at $133.07 on Monday. FedEx Freight Hldg Co has a one year low of $127.65 and a one year high of $194.27. The firm's fifty day moving average is $146.57.

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

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.

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