VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 71,775 FedEx Freight Hldg Co $FDXF

Key Points

• Virginia Retirement Systems purchased 71,775 shares of FedEx Freight, valued at approximately $10.84 million, establishing a new position during the second quarter.
• Analysts are broadly positive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $176.27; individual targets range from $150 to $185.
• FedEx Freight shares opened at $128.93, near the lower end of their $123.24–$194.27 yearly range. The company reported $0.00 quarterly EPS, while analysts expect $5.48 EPS for the full year.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of FedEx Freight Hldg Co (NYSE:FDXF - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 71,775 shares of the company's stock, valued at approximately $10,838,000.

Several other institutional investors and hedge funds have also made changes to their positions in FDXF. CYBER HORNET ETFs LLC purchased a new position in shares of FedEx Freight in the 2nd quarter valued at about $44,000. California State Teachers Retirement System purchased a new stake in FedEx Freight during the second quarter worth approximately $3,615,235,000. VELA Investment Management LLC purchased a new stake in FedEx Freight during the second quarter worth approximately $206,000. Washington Trust Advisors Inc. acquired a new position in FedEx Freight in the second quarter valued at approximately $347,000. Finally, Ameritas Advisory Services LLC acquired a new position in FedEx Freight in the second quarter valued at approximately $375,000.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FDXF. BMO Capital Markets raised their price objective 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. Citigroup initiated coverage on shares of FedEx Freight in a report on Wednesday, July 15th. They issued an "outperform" rating for the company. Bank of America assumed coverage on shares of FedEx Freight in a research report on Monday, June 1st. They issued a "buy" rating and a $185.00 target price on the stock. Wall Street Zen upgraded shares of FedEx Freight to a "hold" rating in a research note on Saturday, June 6th. Finally, Stifel Nicolaus assumed coverage on FedEx Freight in a report on Thursday, June 4th. They set a "hold" rating and a $160.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, FedEx Freight has an average rating of "Moderate Buy" and an average target price of $176.27.

FedEx Freight Stock Down 0.4%

FedEx Freight stock opened at $128.93 on Wednesday. The stock's 50 day moving average is $142.59. FedEx Freight Hldg Co has a twelve month low of $123.24 and a twelve month high of $194.27.

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