Pacific Heights Asset Management LLC Invests $6.42 Million in FedEx Freight Hldg Co $FDXF

Pacific Heights Asset Management LLC purchased a new stake in shares of FedEx Freight Hldg Co (NYSE:FDXF) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 42,500 shares of the company’s stock, valued at approximately $6,418,000.

Several other hedge funds have also added to or reduced their stakes in FDXF. Kiltearn Partners LLP acquired a new stake in FedEx Freight in the second quarter worth about $1,727,000. Ancora Advisors LLC acquired a new position in shares of FedEx Freight during the 2nd quarter worth about $8,279,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of FedEx Freight in the 2nd quarter valued at about $19,666,000. Commerzbank Aktiengesellschaft FI bought a new stake in shares of FedEx Freight in the 2nd quarter valued at about $984,000. Finally, Birmingham Capital Management Co. Inc. AL acquired a new stake in shares of FedEx Freight in the 2nd quarter valued at approximately $745,000.

Analyst Ratings Changes

Several research analysts recently weighed in on FDXF shares. Zacks Research raised shares of FedEx Freight to a “hold” rating in a research note on Tuesday, June 2nd. Citizens Jmp began coverage on shares of FedEx Freight in a research report on Wednesday, July 15th. They issued a “market outperform” rating and a $190.00 price objective for the company. Raymond James Financial began coverage on FedEx Freight in a research note on Wednesday, June 3rd. They set an “outperform” rating and a $180.00 price objective on the stock. The Goldman Sachs Group assumed coverage on FedEx Freight in a report on Wednesday, July 1st. They set a “buy” rating and a $186.00 target price on the stock. Finally, Bank of America started coverage on FedEx Freight in a research note on Monday, June 1st. They issued a “buy” rating and a $185.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, FedEx Freight has a consensus rating of “Moderate Buy” and a consensus target price of $177.90.

FedEx Freight Stock Performance

Shares of FDXF opened at $132.98 on Friday. FedEx Freight Hldg Co has a twelve month low of $127.65 and a twelve month high of $194.27. The firm has a 50 day moving average of $147.17.

FedEx Freight (NYSE:FDXF) last issued its quarterly earnings data on Thursday, June 25th. The company reported $0.00 earnings per share (EPS) for the quarter. Analysts anticipate that FedEx Freight Hldg Co will post 5.48 earnings per share for the current year.

About FedEx Freight

FedEx Freight is the less-than-truckload (LTL) freight transportation arm of FedEx, providing time-definite, regional, and interregional shipping services for commercial customers in North America. The company specializes in moving palletized freight that is too large for parcel shipment but does not require a full truckload, and it offers services designed to help businesses manage supply chain and distribution needs.

As part of the FedEx family of companies, FedEx Freight operates an extensive network of service centers and transportation routes across the United States, Canada, and Mexico.