Heritage Investors Management Corp lowered its stake in shares of FedEx Freight Hldg Co (NYSE:FDXF – Free Report) by 16.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,818 shares of the company’s stock after selling 8,181 shares during the quarter. Heritage Investors Management Corp’s holdings in FedEx Freight were worth $4,465,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in FDXF. CoreCap Advisors LLC acquired a new position in FedEx Freight in the 3rd quarter valued at about $26,000. CYBER HORNET ETFs LLC acquired a new stake in FedEx Freight during the 2nd quarter worth approximately $44,000. United Community Bank acquired a new stake in FedEx Freight during the 2nd quarter worth approximately $46,000. Tompkins Financial Corp acquired a new stake in FedEx Freight during the 3rd quarter worth approximately $49,000. Finally, Root Financial Partners LLC purchased a new position in shares of FedEx Freight in the 3rd quarter valued at approximately $50,000.
FedEx Freight Trading Up 0.3%
FedEx Freight stock opened at $126.41 on Monday. FedEx Freight Hldg Co has a 1-year low of $103.47 and a 1-year high of $194.27. The company has a 50 day simple moving average of $118.84.
FedEx Freight (NYSE:FDXF – Get Free Report) last announced 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 business had revenue of $2.46 billion for the quarter. On average, equities analysts anticipate that FedEx Freight Hldg Co will post 4.59 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
FDXF has been the topic of a number of recent research reports. Stephens assumed coverage on FedEx Freight in a report on Wednesday, July 8th. They issued an “overweight” rating and a $180.00 target price on the stock. Weiss Ratings cut FedEx Freight from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 22nd. Bank of America decreased their price target on FedEx Freight from $157.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, September 29th. Citizens Jmp assumed coverage on FedEx Freight in a report on Wednesday, July 15th. They set a “market outperform” rating and a $190.00 price target for the company. Finally, Sanford C. Bernstein began coverage on shares of FedEx Freight in a research report on Thursday, September 10th. They issued a “market perform” rating and a $133.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, FedEx Freight presently has a consensus rating of “Moderate Buy” and an average target price of $159.00.
Read Our Latest Stock Report on FDXF
Trending Headlines about FedEx Freight
Here are the key news stories impacting FedEx Freight this week:
- Positive Sentiment: Earnings beat expectations: FedEx Freight reported $1.49 in earnings per share versus the $1.38 analyst consensus, with revenue of $2.46 billion. Higher freight yields and fuel surcharges supported revenue, while management raised its transition-period outlook. FDXF Four-Month Transition Period Earnings Beat Estimates on Higher Yields
- Positive Sentiment: Better near-term outlook: The company forecast fourth-quarter adjusted EPS of $0.65-$0.75 and revenue of $2.30-$2.37 billion, with improving volumes, pricing, and expected margin improvement supporting the forecast. FedEx Freight forecasts quarterly earnings above estimates on improving volumes, pricing
- Positive Sentiment: Pricing power remains a key strength: Management highlighted some of its strongest renewal pricing in years, helping offset softer demand and reinforcing expectations for earnings growth during the transition period. FedEx Freight Soars on Raised Outlook
- Positive Sentiment: Analyst support: Analysts cited the quarterly beat and growth targets as reasons for the favorable reaction, helping reinforce investor confidence in the newly spun-off freight carrier. FedEx Freight shares surge as analysts back growth targets
- Neutral Sentiment: Strategic expansion: After initial consolidation following the spinoff, FedEx Freight is evaluating additional opportunities to expand its less-than-truckload network and customer base. FedEx Freight goes hunting after initial consolidation
- Negative Sentiment: Demand remains mixed: Third-quarter shipments dipped slightly, and management expects peak-season volume to be tepid, meaning pricing—not strong volume growth—is currently doing much of the earnings-supporting work. FedEx Freight Q3 shipments dip slightly following spinoff
- Negative Sentiment: Price target reduced: Jefferies lowered its FedEx Freight price target to $180 from $200, signaling more cautious valuation expectations despite the earnings beat. Jefferies Adjusts Price Target on FedEx Freight
FedEx Freight Profile
FedEx Freight is a less-than-truckload (LTL) freight transportation company that provides pickup, consolidation, transportation and delivery services for shipments that do not require a full truck. Its customers include businesses across manufacturing, retail, wholesale, healthcare, technology and other industries.
The company offers a range of LTL solutions, including time-definite and day-definite services, standard and economy freight transportation, expedited shipping, volume and multiweight services, and specialized delivery options.
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