Integrated Wealth Concepts LLC Takes Position in FedEx Freight Hldg Co $FDXF

Key Points

• Integrated Wealth Concepts LLC acquired 9,108 FedEx Freight shares worth approximately $1.375 million in the second quarter, joining several other institutions that initiated positions.
• FDXF shares fell 4.1% to $121.77, near the company’s 52-week low of $120.84; the company reported $0.00 quarterly EPS, while analysts expect $4.80 in full-year EPS.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $172.67, despite ratings ranging from Sell to Strong Buy.

Integrated Wealth Concepts 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 disclosure with the Securities & Exchange Commission. The fund bought 9,108 shares of the company's stock, valued at approximately $1,375,000.

Other institutional investors have also bought and sold shares of the company. Maple Rock Capital Partners Inc. purchased a new stake in FedEx Freight in the 2nd quarter valued at $68,207,000. Allianz Asset Management GmbH purchased a new position in FedEx Freight during the 2nd quarter worth $50,888,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in FedEx Freight during the 2nd quarter worth $19,666,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of FedEx Freight in the 2nd quarter worth $10,838,000. Finally, Ancora Advisors LLC bought a new stake in shares of FedEx Freight in the 2nd quarter worth $8,279,000.

FedEx Freight Trading Down 4.1%

Shares of NYSE:FDXF opened at $121.77 on Thursday. The business has a 50-day moving average of $139.72. FedEx Freight Hldg Co has a fifty-two week low of $120.84 and a fifty-two week high of $194.27.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FDXF. Weiss Ratings raised shares of FedEx Freight from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, September 8th. JPMorgan Chase & Co. began coverage on shares of FedEx Freight in a research report on Tuesday, September 8th. They issued an "overweight" rating and a $160.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of FedEx Freight in a research note on Wednesday, July 1st. They issued a "buy" rating and a $186.00 price objective for the company. Wall Street Zen raised shares of FedEx Freight to a "hold" rating in a research report on Saturday, June 6th. Finally, Wolfe Research began coverage on FedEx Freight in a research note on Thursday, June 4th. They issued an "outperform" rating and a $180.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $172.67.

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.

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.