Pavion Blue Capital LLC Makes New $467,000 Investment in FedEx Freight Hldg Co $FDXF

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

Other institutional investors have also bought and sold shares of the company. Machina Capital S.A.S. purchased a new stake in shares of FedEx Freight during the 3rd quarter valued at about $216,000. New York Life Investment Management LLC bought a new position in shares of FedEx Freight in the 3rd quarter valued at about $1,946,000. AlphaCore Capital LLC bought a new position in shares of FedEx Freight in the 3rd quarter valued at about $206,000. Leuthold Group LLC grew its position in FedEx Freight by 2.2% in the third quarter. Leuthold Group LLC now owns 18,820 shares of the company’s stock worth $2,059,000 after acquiring an additional 406 shares in the last quarter. Finally, Retirement Systems of Alabama grew its position in FedEx Freight by 9.9% in the third quarter. Retirement Systems of Alabama now owns 25,085 shares of the company’s stock worth $2,744,000 after acquiring an additional 2,251 shares in the last quarter.

FedEx Freight Stock Up 2.2%

FedEx Freight stock opened at $132.63 on Thursday. The business has a 50-day moving average price of $118.31. The company has a market cap of $19.83 billion and a price-to-earnings ratio of 89.01. FedEx Freight Hldg Co has a 12-month low of $103.47 and a 12-month high of $194.27.

FedEx Freight (NYSE:FDXF) last released its quarterly 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 for the quarter. Equities analysts forecast that FedEx Freight Hldg Co will post 4.67 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on FDXF. JPMorgan Chase & Co. boosted their price objective on FedEx Freight from $149.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Raymond James Financial reaffirmed an “outperform” rating and issued a $165.00 price objective on shares of FedEx Freight in a research note on Thursday, October 15th. Bank of America dropped their target price on FedEx Freight from $157.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, September 29th. Truist Financial cut their target price on FedEx Freight from $155.00 to $115.00 and set a “hold” rating on the stock in a research report on Wednesday, October 7th. Finally, Citizens Jmp initiated coverage on FedEx Freight in a report on Wednesday, July 15th. They set a “market outperform” rating and a $190.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $159.00.

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.