Wellington Management Group LLP Takes Position in FedEx Freight Hldg Co $FDXF

Wellington Management Group LLP bought a new stake in FedEx Freight Hldg Co (NYSE:FDXF) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,080 shares of the company’s stock, valued at approximately $1,220,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Bancorp Inc ME purchased a new stake in FedEx Freight during the 2nd quarter worth $80,000. Sumitomo Life Insurance Co. purchased a new position in FedEx Freight in the second quarter valued at about $194,000. Archer Investment Corp purchased a new position in FedEx Freight in the second quarter valued at about $276,000. North Star Asset Management Inc. acquired a new position in shares of FedEx Freight during the second quarter worth about $725,000. Finally, Birmingham Capital Management Co. Inc. AL acquired a new position in shares of FedEx Freight during the second quarter worth about $745,000.

FedEx Freight Price Performance

NYSE:FDXF opened at $128.05 on Friday. The firm has a 50-day moving average price of $140.99. FedEx Freight Hldg Co has a 1-year low of $122.43 and a 1-year high of $194.27.

FedEx Freight (NYSE:FDXF) last announced its earnings results on Thursday, June 25th. The company reported $0.00 earnings per share (EPS) for the quarter. As a group, sell-side analysts expect that FedEx Freight Hldg Co will post 4.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus began coverage on FedEx Freight in a research note on Thursday, June 4th. They issued a “hold” rating and a $160.00 target price for the company. Jefferies Financial Group began coverage on FedEx Freight in a research report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price target on the stock. JPMorgan Chase & Co. started coverage on FedEx Freight in a report on Tuesday. They issued an “overweight” rating and a $160.00 price target for the company. Wolfe Research started coverage on shares of FedEx Freight in a research report on Thursday, June 4th. They issued an “outperform” rating and a $180.00 price objective for the company. Finally, The Goldman Sachs Group started coverage on shares of FedEx Freight in a research note on Wednesday, July 1st. They set a “buy” rating and a $186.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, FedEx Freight currently has an average rating of “Moderate Buy” and an average target price of $172.67.

FedEx Freight Company Profile

FedEx Freight is a less-than-truckload (LTL) transportation company that provides freight shipping services for businesses across North America. Its network transports palletized and other consolidated shipments that do not require a full truckload, serving manufacturers, wholesalers, retailers, distributors and other commercial customers.

The company offers a range of freight solutions, including standard and time-definite LTL delivery, expedited transportation, volume and consolidated freight services, and specialized options for residential or appointment-based deliveries.