Old Dominion Freight Line, Inc. $ODFL Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC reduced its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,020,962 shares of the transportation company’s stock after selling 128,251 shares during the quarter. Geode Capital Management LLC’s holdings in Old Dominion Freight Line were worth $815,565,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ODFL. Stephens Inc. AR lifted its position in shares of Old Dominion Freight Line by 0.7% in the 2nd quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock worth $1,665,000 after buying an additional 67 shares during the last quarter. Benjamin Edwards Inc. grew its position in shares of Old Dominion Freight Line by 3.1% during the 1st quarter. Benjamin Edwards Inc. now owns 2,368 shares of the transportation company’s stock valued at $392,000 after buying an additional 71 shares during the last quarter. iA Global Asset Management Inc. raised its stake in Old Dominion Freight Line by 0.3% during the second quarter. iA Global Asset Management Inc. now owns 23,468 shares of the transportation company’s stock worth $3,809,000 after acquiring an additional 72 shares during the period. STF Management LP lifted its holdings in Old Dominion Freight Line by 2.4% in the second quarter. STF Management LP now owns 3,277 shares of the transportation company’s stock worth $532,000 after acquiring an additional 77 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its holdings in Old Dominion Freight Line by 0.6% in the first quarter. Summit Investment Advisors Inc. now owns 14,347 shares of the transportation company’s stock worth $2,374,000 after acquiring an additional 79 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Citigroup dropped their price target on Old Dominion Freight Line from $173.00 to $168.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Raymond James Financial restated an “outperform” rating and set a $155.00 price objective (down from $160.00) on shares of Old Dominion Freight Line in a research note on Thursday, October 30th. Stifel Nicolaus dropped their target price on Old Dominion Freight Line from $168.00 to $162.00 and set a “buy” rating on the stock in a research report on Tuesday, October 28th. Evercore ISI cut their target price on Old Dominion Freight Line from $143.00 to $139.00 and set an “in-line” rating on the stock in a research note on Thursday, October 30th. Finally, Vertical Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $159.33.

Old Dominion Freight Line Stock Down 2.4%

Old Dominion Freight Line stock opened at $135.45 on Friday. Old Dominion Freight Line, Inc. has a 52 week low of $133.69 and a 52 week high of $228.72. The stock has a market cap of $28.32 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 3.22 and a beta of 1.22. The company’s 50-day moving average price is $140.60 and its two-hundred day moving average price is $152.65. The company has a current ratio of 1.20, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the firm earned $1.43 EPS. On average, analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio is presently 22.54%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.