5 Stocks To Invest In According To Claes Fornell

4. FedEx Corporation (NYSE:FDX)

CSat Investment Advisory’s Stake Value: $3.34 million
Percentage of CSat Investment Advisory’s 13F Portfolio: 2.8%
Number of Hedge Fund Holders: 61

FedEx Corporation (NYSE:FDX) is an American multinational conglomerate holding company which focuses on transportation, e-commerce and business services. Based in Memphis, Tennessee, the company is ranked fourth on the list of the 10 stocks to invest in according to Claes Fornell.

On October 8, Citi analyst Christian Wetherbee maintained a Buy rating on FedEx Corporation (NYSE:FDX) alongside a $300 price target.

As of Q2 2021, CSat Investment Advisory holds 11,774 shares of FedEx Corporation (NYSE:FDX), worth $3.34 million and representing 2.8% of the fund’s total investment portfolio. At the end of the second quarter of 2021, 61 hedge funds in the database of Insider Monkey held stakes worth $2.17 billion in FedEx Corporation (NYSE:FDX), down from 63 in the previous quarter worth $2.26 billion.

Artisan Partners, in its Q1 2021 investor letter, mentioned FedEx Corporation (NYSE: FDX). Here is what the fund had to say:

“Whatever products did make it off the line met a constrained logistics infrastructure, with commercial air capacity cut and ship cargo space at a premium. Then, in the event your dishwasher part actually made it to US waters, our ports were congested due to manpower shortages and COVID-19 protocols. When the goods were finally unloaded, it turns out trucking shortages caused a spike in ground rates! All this might be bad for your dinner parties, home décor or exercise goals, but it can be great for the middlemen. Middlemen like logistics expert FedEx.

FedEx provides global logistics services. It gets your dishwasher part on a truck, or that semiconductor chip on a plane. Surging demand for at-home deliveries during the pandemic boosted volumes and allowed management to push through price increases, keeping competitive with industry peers. The industry’s renewed pricing discipline was a welcome change, reflecting a broader commitment to earn better returns on invested capital. Despite a significant re-rating of the business over the last 12 months, FedEx remains attractive based on our margin of safety criteria.”