FedEx Freight Hldg Co $FDXF Shares Newly Acquired by Pavion Blue Capital LLC

Pavion Blue Capital LLC acquired a new stake in FedEx Freight Hldg Co (NYSE:FDXF) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,274 shares of the company’s stock, valued at approximately $467,000.

Other hedge funds have also recently made changes to their positions in the company. Machina Capital S.A.S. purchased a new stake in shares of FedEx Freight during the third quarter worth about $216,000. New York Life Investment Management LLC purchased a new position in FedEx Freight in the 3rd quarter worth approximately $1,946,000. AlphaCore Capital LLC purchased a new position in FedEx Freight in the 3rd quarter worth approximately $206,000. Leuthold Group LLC lifted its holdings in FedEx Freight by 2.2% in the 3rd quarter. Leuthold Group LLC now owns 18,820 shares of the company’s stock worth $2,059,000 after purchasing an additional 406 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in FedEx Freight by 9.9% in the 3rd quarter. Retirement Systems of Alabama now owns 25,085 shares of the company’s stock worth $2,744,000 after purchasing an additional 2,251 shares in the last quarter.

Analyst Upgrades and Downgrades

FDXF has been the subject of several recent analyst reports. Citigroup began coverage on FedEx Freight in a research note on Wednesday, July 15th. They issued an “outperform” rating for the company. Stifel Nicolaus reduced their price objective on shares of FedEx Freight from $160.00 to $129.00 and set a “hold” rating on the stock in a research report on Thursday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of FedEx Freight from $149.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Raymond James Financial reissued an “outperform” rating and issued a $165.00 target price on shares of FedEx Freight in a report on Thursday, October 15th. Finally, Sanford C. Bernstein started coverage on shares of FedEx Freight in a research report on Thursday, September 10th. They set a “market perform” rating and a $133.00 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 assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, FedEx Freight currently has a consensus rating of “Moderate Buy” and an average price target of $159.00.

FedEx Freight Trading Up 2.2%

Shares of FedEx Freight stock opened at $132.63 on Thursday. FedEx Freight Hldg Co has a twelve month low of $103.47 and a twelve month high of $194.27. The firm’s 50-day moving average price is $118.31. The stock has a market capitalization of $19.83 billion and a price-to-earnings ratio of 89.01.

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

FedEx Freight 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.