Old Dominion Freight Line, Inc. $ODFL Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,020,962 shares of the transportation company’s stock after selling 128,251 shares during the quarter. Geode Capital Management LLC owned approximately 2.38% of Old Dominion Freight Line worth $815,565,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC raised its stake in Old Dominion Freight Line by 234.8% in the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 108 shares during the last quarter. Rossby Financial LCC purchased a new stake in shares of Old Dominion Freight Line during the second quarter worth about $28,000. Zions Bancorporation National Association UT acquired a new position in shares of Old Dominion Freight Line in the first quarter valued at approximately $39,000. Chilton Capital Management LLC acquired a new position in shares of Old Dominion Freight Line in the second quarter valued at approximately $47,000. Finally, WPG Advisers LLC purchased a new position in shares of Old Dominion Freight Line during the first quarter valued at approximately $51,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $135.45 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.38. Old Dominion Freight Line, Inc. has a 1-year low of $133.69 and a 1-year high of $228.72. The company has a market capitalization of $28.32 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 3.22 and a beta of 1.22. The business has a 50-day moving average of $140.60 and a 200-day moving average of $152.65.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the company earned $1.43 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be issued a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio is currently 22.54%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of Old Dominion Freight Line in a research note on Thursday, October 30th. The Goldman Sachs Group lowered their price objective on Old Dominion Freight Line from $186.00 to $181.00 in a research report on Thursday, October 30th. Wall Street Zen upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. TD Cowen decreased their price target on Old Dominion Freight Line from $159.00 to $154.00 in a research note on Thursday, October 30th. Finally, JPMorgan Chase & Co. lifted their price target on Old Dominion Freight Line from $143.00 to $144.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Eight investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $159.33.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.