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Point72 Asset Management held a $240 million stake in FedEx Corporation (NYSE:FDX) at the end of March which represented 0.95% of its total portfolio. Southeastern Asset Management was the company’s largest shareholder, with 1.38 million shares valued at $321.3 million.

Here is what investment firm Artisan Partners had to say about FedEx Corporation (NYSE:FDX) in its Q3 2021 investor letter:

“Our weakest Q3 performers included FedEx. Shares of FedEx, a global shipping and logistics firm, were held back by disappointing business results as labor cost headwinds and air network disruptions overshadowed solid top-line trends. We think the company should be able to overcome these near-term issues. Importantly, FedEx has strong pricing power as it operates in a consolidated global shipping industry. In September, the company announced it would increase its shipping rates by an average of 5.9% across most of its services, which is the first time in several years that its annual increase would exceed 5.0%. The industry’s renewed pricing discipline is a welcome change, reflecting a broader commitment to earn better returns on invested capital. FedEx is also closer to fully integrating TNT, a European-focused parcel company it acquired in 2016. The market is beginning to incorporate a higher probability FedEx will fully integrate TNT, which will provide a significant boost to profits. The stock now trades at a near-trough multiple of less than 12X 2022 earnings, so we added to our position on weakness.”