Saudi Central Bank Acquires New Stake in FedEx Freight Hldg Co $FDXF

Key Points

• Saudi Central Bank acquired 7,819 FedEx Freight shares in the second quarter, worth approximately $1.18 million. Several other institutional investors also initiated positions, including Diamond Hill Capital Management and Ancora Advisors.
• Analysts are broadly positive on FDXF, with a “Moderate Buy” consensus rating and an average price target of $176.27; recent coverage included buy or overweight ratings from Jefferies, Goldman Sachs, Stephens, Wolfe Research, and JPMorgan.
• FedEx Freight shares opened at $128.93, near their 52-week low of $123.24 and below the $142.59 50-day moving average. The company reported quarterly EPS of $0.00, while analysts expect $5.48 in full-year EPS.

Saudi Central Bank bought a new stake in shares of FedEx Freight Hldg Co (NYSE:FDXF - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,819 shares of the company's stock, valued at approximately $1,181,000.

Other institutional investors also recently bought and sold shares of the company. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in FedEx Freight in the 2nd quarter valued at about $19,666,000. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of FedEx Freight during the second quarter worth about $984,000. Sumitomo Life Insurance Co. purchased a new position in shares of FedEx Freight in the second quarter valued at approximately $194,000. Kiltearn Partners LLP purchased a new position in shares of FedEx Freight in the second quarter valued at approximately $1,727,000. Finally, Ancora Advisors LLC acquired a new position in shares of FedEx Freight in the second quarter valued at approximately $8,279,000.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FDXF. Jefferies Financial Group initiated coverage on shares of FedEx Freight in a research note on Tuesday, June 23rd. They set a "buy" rating and a $200.00 target price on the stock. The Goldman Sachs Group started coverage on shares of FedEx Freight in a research note on Wednesday, July 1st. They issued a "buy" rating and a $186.00 price target for the company. Stephens started coverage on FedEx Freight in a research report on Wednesday, July 8th. They set an "overweight" rating and a $180.00 price objective on the stock. Wolfe Research began coverage on FedEx Freight in a research note on Thursday, June 4th. They issued an "outperform" rating and a $180.00 price objective on the stock. Finally, JPMorgan Chase & Co. assumed coverage on FedEx Freight in a report on Tuesday. They issued an "overweight" rating and a $160.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, FedEx Freight currently has an average rating of "Moderate Buy" and an average price target of $176.27.

FedEx Freight Trading Down 0.4%

Shares of NYSE:FDXF opened at $128.93 on Wednesday. FedEx Freight Hldg Co has a 52 week low of $123.24 and a 52 week high of $194.27. The firm has a 50 day moving average price of $142.59.

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