New York Life Investment Management LLC Purchases New Stake in FedEx Freight Hldg Co $FDXF

New York Life Investment Management LLC acquired a new position in shares of FedEx Freight Hldg Co (NYSE:FDXF) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 17,791 shares of the company’s stock, valued at approximately $1,946,000.

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp acquired a new stake in shares of FedEx Freight during the second quarter worth $723,747,000. Maple Rock Capital Partners Inc. acquired a new position in shares of FedEx Freight in the 2nd quarter valued at about $68,207,000. Allianz Asset Management GmbH acquired a new position in shares of FedEx Freight in the 2nd quarter valued at about $50,888,000. National Pension Service bought a new stake in shares of FedEx Freight during the 2nd quarter valued at about $26,648,000. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of FedEx Freight during the 2nd quarter valued at about $19,666,000.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Truist Financial dropped their price objective on shares of FedEx Freight from $155.00 to $115.00 and set a “hold” rating on the stock in a research note on Wednesday, October 7th. Bank of America decreased their target price on FedEx Freight from $157.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, September 29th. JPMorgan Chase & Co. upped their target price on FedEx Freight from $149.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Raymond James Financial reiterated an “outperform” rating and set a $165.00 price target on shares of FedEx Freight in a research report on Thursday, October 15th. Finally, Stifel Nicolaus cut their price target on FedEx Freight from $160.00 to $129.00 and set a “hold” rating on the stock in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, FedEx Freight has an average rating of “Moderate Buy” and an average target price of $159.00.

FedEx Freight Price Performance

Shares of FDXF traded up $2.73 during midday trading on Friday, hitting $133.73. 724,964 shares of the stock traded hands, compared to its average volume of 1,499,043. The company’s 50 day simple moving average is $118.53. The company has a market capitalization of $19.99 billion and a price-to-earnings ratio of 89.75. FedEx Freight Hldg Co has a 1-year low of $103.47 and a 1-year high of $194.27.

FedEx Freight (NYSE:FDXF) last released its quarterly earnings data on Thursday, October 29th. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.11. The firm had revenue of $2.46 billion during the quarter. As a group, equities analysts forecast that FedEx Freight Hldg Co will post 4.67 earnings per share for the current fiscal year.

FedEx Freight Company Profile

FedEx Freight provides less-than-truckload (LTL) transportation, consolidating shipments from multiple customers and moving them through a network of service centers. Its offerings include time-definite and more economical freight services, along with options for larger or specialized shipments. The company serves businesses across North America, with a network designed to support regional and long-distance freight movements. FedEx Freight traces its roots to trucking operations that became part of FedEx through acquisitions, including Viking Freight and American Freightways.