FedEx Freight Hldg Co $FDXF Stake Lowered by New South Capital Management Inc.

New South Capital Management Inc. trimmed its holdings in shares of FedEx Freight Hldg Co (NYSE:FDXF) by 17.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,996 shares of the company’s stock after selling 12,414 shares during the period. New South Capital Management Inc.’s holdings in FedEx Freight were worth $6,562,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Pavion Blue Capital LLC bought a new position in FedEx Freight in the third quarter valued at approximately $467,000. Machina Capital S.A.S. bought a new stake in shares of FedEx Freight during the 3rd quarter valued at $216,000. New York Life Investment Management LLC bought a new stake in shares of FedEx Freight during the 3rd quarter valued at $1,946,000. AlphaCore Capital LLC bought a new stake in shares of FedEx Freight during the 3rd quarter valued at $206,000. Finally, Leuthold Group LLC lifted its stake in shares of FedEx Freight by 2.2% in the 3rd quarter. Leuthold Group LLC now owns 18,820 shares of the company’s stock valued at $2,059,000 after purchasing an additional 406 shares during the period.

FedEx Freight Stock Performance

Shares of NYSE FDXF opened at $132.63 on Thursday. The firm has a market capitalization of $19.83 billion and a PE ratio of 89.01. The firm’s 50 day moving average price is $118.31. FedEx Freight Hldg Co has a 52-week low of $103.47 and a 52-week high of $194.27.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FDXF. JPMorgan Chase & Co. raised their price target on FedEx Freight from $149.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Truist Financial dropped their price objective on FedEx Freight from $155.00 to $115.00 and set a “hold” rating for the company in a report on Wednesday, October 7th. Raymond James Financial reissued an “outperform” rating and issued a $165.00 target price on shares of FedEx Freight in a research note on Thursday, October 15th. Citizens Jmp initiated coverage on FedEx Freight in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $190.00 target price on the stock. Finally, Weiss Ratings upgraded FedEx Freight from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, FedEx Freight has an average rating of “Moderate Buy” and a consensus price target of $159.00.

About FedEx Freight

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.