...Better than Remington and cleaner than Winchester, but still sub-par.
Some lots of the Federal bulk packs run fairly well. Some run like crap. (I've had as much as 20% without priming compound.) The Walmart-only version seems far more prone to lower quality standards.
With better lots, accuracy can be as good as 1.5" @ 100 yards, from a good rifle.
With lower quality lots, accuracy may be worse than 4" @ 50 yards, from the same rifle. (Not counting the failures to fire.)
Stepping up to the Federal Champion Target or Federal Game-Shok in 500-round bricks (10 boxes of 50), is a massive jump in quality, consistency, and reliability. And if you buy it by the case (5,000 rounds), when available, you can get it cheaper than the bulk packs.
But for a low price, fantastic reliability, and some of the best single lot and lot-to-lot consistency, ArmsCor and Aguila are better buys.