Twin Lakes Capital Management LLC Acquires New Holdings in FedEx Freight Hldg Co $FDXF

Key Points

• Twin Lakes Capital Management acquired 8,402 shares of FedEx Freight in the second quarter, valued at approximately $1.27 million. Several other hedge funds also initiated positions in the company.
• FedEx Freight shares opened at $126.31, near their one-year low of $125.89 and below the 50-day moving average of $144.54. The company reported quarterly earnings per share of $0.00.
• Analysts maintain a generally positive outlook, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $177.90.

Twin Lakes Capital Management LLC bought a new stake in FedEx Freight Hldg Co (NYSE:FDXF - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,402 shares of the company's stock, valued at approximately $1,269,000.

Several other hedge funds also recently modified their holdings of the business. First Bancorp Inc ME acquired a new stake in shares of FedEx Freight in the 2nd quarter valued at $80,000. Investors Research Corp acquired a new stake in shares of FedEx Freight in the second quarter worth about $80,000. Sumitomo Life Insurance Co. acquired a new stake in shares of FedEx Freight in the second quarter worth about $194,000. Legacy Financial Advisors Inc. bought a new stake in shares of FedEx Freight during the 2nd quarter worth about $213,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of FedEx Freight during the 2nd quarter valued at about $258,000.

FedEx Freight Stock Performance

Shares of FedEx Freight stock opened at $126.31 on Thursday. FedEx Freight Hldg Co has a 1 year low of $125.89 and a 1 year high of $194.27. The business has a fifty day moving average of $144.54.

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

Wall Street Analyst Weigh In

FDXF has been the subject of several analyst reports. Wolfe Research initiated coverage on FedEx Freight in a report on Thursday, June 4th. They issued an "outperform" rating and a $180.00 target price for the company. Citigroup assumed coverage on shares of FedEx Freight in a research report on Wednesday, July 15th. They issued an "outperform" rating on the stock. Zacks Research raised shares of FedEx Freight to a "hold" rating in a report on Tuesday, June 2nd. BMO Capital Markets lifted their target price on shares of FedEx Freight from $140.00 to $150.00 and gave the stock a "market perform" rating in a report on Friday, June 26th. Finally, The Goldman Sachs Group started coverage on shares of FedEx Freight in a report on Wednesday, July 1st. They set a "buy" rating and a $186.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, FedEx Freight has an average rating of "Moderate Buy" and an average price target of $177.90.

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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