Squarepoint Ops LLC Makes New $3.56 Million Investment in FedEx Freight Hldg Co $FDXF

Key Points

• Squarepoint Ops LLC acquired 23,603 shares of FedEx Freight in the second quarter, representing an investment of approximately $3.56 million. Several other major institutional investors also initiated positions.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $172.67; individual targets range from $160 to $180.
• FedEx Freight shares opened at $128.05, near the lower end of their 52-week range of $122.43 to $194.27. The company reported quarterly EPS of $0.00, while analysts expect full-year EPS of approximately $4.80.

Squarepoint Ops LLC bought a new position in shares of FedEx Freight Hldg Co (NYSE:FDXF - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 23,603 shares of the company's stock, valued at approximately $3,564,000.

Other large investors have also recently made changes to their positions in the company. California State Teachers Retirement System bought a new position in shares of FedEx Freight in the second quarter worth about $3,615,235,000. Maple Rock Capital Partners Inc. bought a new stake in FedEx Freight during the 2nd quarter valued at about $68,207,000. Allianz Asset Management GmbH purchased a new stake in FedEx Freight in the 2nd quarter valued at about $50,888,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in FedEx Freight in the 2nd quarter valued at about $19,666,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in FedEx Freight in the 2nd quarter worth about $10,838,000.

Wall Street Analysts Forecast Growth

FDXF has been the topic of a number of research reports. Stephens assumed coverage on shares of FedEx Freight in a research report on Wednesday, July 8th. They set an "overweight" rating and a $180.00 target price on the stock. Stifel Nicolaus initiated coverage on FedEx Freight in a research note on Thursday, June 4th. They issued a "hold" rating and a $160.00 price objective on the stock. Wolfe Research started 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. Wall Street Zen upgraded FedEx Freight to a "hold" rating in a report on Saturday, June 6th. Finally, Evercore started coverage on FedEx Freight in a research report on Thursday, June 4th. They set an "outperform" rating and a $168.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $172.67.

FedEx Freight Trading Up 3.3%

Shares of FedEx Freight stock opened at $128.05 on Friday. FedEx Freight Hldg Co has a 1 year low of $122.43 and a 1 year high of $194.27. The business's 50-day simple moving average is $140.99.

FedEx Freight (NYSE:FDXF - Get Free Report) last posted its earnings results on Thursday, June 25th. The company reported $0.00 EPS for the quarter. As a group, equities research analysts forecast that FedEx Freight Hldg Co will post 4.8 earnings per share for the current fiscal year.

FedEx Freight Company 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.

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