FedEx Freight Hldg Co $FDXF Stock Sold by New South Capital Management Inc.

New South Capital Management Inc. reduced its holdings in FedEx Freight Hldg Co (NYSE:FDXF) by 17.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,996 shares of the company’s stock after selling 12,414 shares during the quarter. New South Capital Management Inc.’s holdings in FedEx Freight were worth $6,562,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Heritage Family Offices LLP acquired a new stake in shares of FedEx Freight during the third quarter worth about $25,000. CoreCap Advisors LLC acquired a new position in shares of FedEx Freight in the 3rd quarter valued at approximately $26,000. CYBER HORNET ETFs LLC acquired a new position in shares of FedEx Freight in the 2nd quarter valued at approximately $44,000. United Community Bank acquired a new position in shares of FedEx Freight in the 2nd quarter valued at approximately $46,000. Finally, Syntax Research Inc. bought a new stake in FedEx Freight during the 2nd quarter worth approximately $64,000.

FedEx Freight Trading Up 2.2%

Shares of FedEx Freight stock opened at $132.63 on Thursday. The company has a market capitalization of $19.83 billion and a price-to-earnings ratio of 89.01. The firm has a 50-day moving average price of $118.31. 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 posted its quarterly earnings data 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 for the quarter. On average, analysts expect that FedEx Freight Hldg Co will post 4.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FDXF has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of FedEx Freight from $149.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Truist Financial reduced their price target on shares of FedEx Freight from $155.00 to $115.00 and set a “hold” rating for the company in a report on Wednesday, October 7th. Bank of America lowered their price objective on shares of FedEx Freight from $157.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, September 29th. Raymond James Financial reissued an “outperform” rating and set a $165.00 price objective on shares of FedEx Freight in a research report on Thursday, October 15th. Finally, Citigroup started coverage on shares of FedEx Freight in a report on Wednesday, July 15th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, FedEx Freight has a consensus rating of “Moderate Buy” and an average 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.