Public Employees Retirement System of Ohio Makes New Investment in FedEx Freight Hldg Co $FDXF

Key Points

• Public Employees Retirement System of Ohio purchased 38,969 shares of FedEx Freight, valued at approximately $5.9 million, during the second quarter. Several other institutional investors also initiated positions.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $177.90, although ratings range from Strong Buy to Sell.
• FedEx Freight shares opened at $126.31, near their 12-month low of $125.89, and recently traded down 1%. The company reported quarterly EPS of $0.00, while analysts expect full-year EPS of $5.48.

Public Employees Retirement System of Ohio purchased a new stake in FedEx Freight Hldg Co (NYSE:FDXF - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 38,969 shares of the company's stock, valued at approximately $5,884,000.

Other institutional investors have also modified their holdings of the company. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of FedEx Freight in the second quarter valued at $19,666,000. Ancora Advisors LLC acquired a new position in FedEx Freight during the 2nd quarter worth $8,279,000. Kiltearn Partners LLP acquired a new position in FedEx Freight during the 2nd quarter worth $1,727,000. Commerzbank Aktiengesellschaft FI purchased a new stake in FedEx Freight during the 2nd quarter worth about $984,000. Finally, Birmingham Capital Management Co. Inc. AL purchased a new stake in FedEx Freight during the 2nd quarter worth about $745,000.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Truist Financial initiated coverage on FedEx Freight in a research report on Tuesday, June 2nd. They issued a "hold" rating on the stock. Weiss Ratings assumed coverage on shares of FedEx Freight in a research note on Tuesday, August 25th. They set a "sell (d)" rating on the stock. Wall Street Zen raised shares of FedEx Freight to a "hold" rating in a report on Saturday, June 6th. Raymond James Financial began coverage on shares of FedEx Freight in a research note on Wednesday, June 3rd. They issued an "outperform" rating and a $180.00 price target for the company. Finally, Zacks Research upgraded shares of FedEx Freight to a "hold" rating in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $177.90.

FedEx Freight Trading Down 1.0%

Shares of NYSE:FDXF opened at $126.31 on Thursday. The stock's fifty day moving average is $144.54. FedEx Freight Hldg Co has a 12 month low of $125.89 and a 12 month high of $194.27.

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. Equities analysts expect that FedEx Freight Hldg Co will post 5.48 EPS for the current fiscal year.

FedEx Freight 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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