FedEx Freight Holdings attracts major institutional investment

FedEx Freight Holdings Co Inc (FDXF) has seen significant activity from institutional investors despite the stock recently hitting a 52-week low of approximately $121.82.

Several prominent hedge funds and value-oriented investors have established new positions in the company. Viking Global Investors initiated a position of roughly 2.37 million shares, valued at $360 million, while Point72 Asset Management purchased approximately 1.2 million shares worth $180 million. AQR Capital Management also entered a new position with over 1 million shares valued at $150 million. Other notable investors establishing new holdings include GAMCO Investors, Gotham Asset Management, and Fisher Asset Management.

While the stock has faced recent downward pressure, Wall Street analysts maintain a variety of outlooks. Goldman Sachs has issued a ‘buy’ rating with a price objective of $186.00, and Raymond James Financial set an ‘outperform’ rating with a $180.00 target. The current consensus rating for the company is a ‘Moderate Buy’ with an average target price of $172.67.