New York Life Investment Management LLC Makes New $1.95 Million Investment in FedEx Freight Hldg Co $FDXF

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

Other large investors also recently modified their holdings of the company. Wedmont Private Capital raised its stake in shares of FedEx Freight by 8.4% during the third quarter. Wedmont Private Capital now owns 2,020 shares of the company’s stock valued at $234,000 after purchasing an additional 156 shares in the last quarter. Choreo LLC grew its position in FedEx Freight by 2.6% in the 3rd quarter. Choreo LLC now owns 7,741 shares of the company’s stock valued at $847,000 after buying an additional 194 shares in the last quarter. Heritage Family Offices LLP bought a new position in FedEx Freight in the 3rd quarter valued at about $25,000. Quadrant Capital Group LLC increased its stake in FedEx Freight by 5.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 4,254 shares of the company’s stock valued at $468,000 after buying an additional 234 shares during the period. Finally, CoreCap Advisors LLC acquired a new position in FedEx Freight during the 3rd quarter valued at about $26,000.

FedEx Freight Stock Up 2.1%

Shares of FDXF traded up $2.73 during trading hours on Friday, hitting $133.73. 724,964 shares of the company were exchanged, compared to its average volume of 1,499,043. The company has a market capitalization of $19.99 billion and a P/E ratio of 89.75. The business’s fifty day moving average is $118.53. FedEx Freight Hldg Co has a one year low of $103.47 and a one year high of $194.27.

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

Wall Street Analyst Weigh In

A number of analysts have commented on FDXF shares. Stifel Nicolaus dropped their price target 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. BMO Capital Markets set a $130.00 target price on FedEx Freight in a report on Wednesday, October 7th. Raymond James Financial restated an “outperform” rating and issued a $165.00 target price on shares of FedEx Freight in a research report on Thursday, October 15th. Weiss Ratings raised FedEx Freight from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, November 2nd. Finally, Sanford C. Bernstein initiated coverage on FedEx Freight in a research note on Thursday, September 10th. They issued a “market perform” rating and a $133.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, FedEx Freight presently has a consensus rating of “Moderate Buy” and an average price target of $159.00.

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.