FedEx Corporation (FDX) Completes $4.9 Billion Acquisition of TNT Express

Seeing as FedEx Corporation (NYSE:FDX) has faced bearish sentiment from hedge fund managers, logic holds that there lies a certain “tier” of funds who were dropping their entire stakes by the end of the first quarter. Interestingly, James Dinan’s York Capital Management dropped the biggest position of the 750+ funds tracked by Insider Monkey, comprising close to $253.8 million in stock. Will Snellings’ fund, Marianas Fund Management, also cut its holding of shares, about $51.9 million worth. These bearish behaviors are important to note, as total hedge fund interest was cut by 2 funds by the end of the first quarter.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as FedEx Corporation (NYSE:FDX) but similarly valued. We will take a look at Infosys Ltd ADR (NYSE:INFY), American Tower Corp (NYSE:AMT), Carnival plc (ADR) (NYSE:CUK), and ABB Ltd (ADR) (NYSE:ABB). This group of stocks’ market caps resemble FDX’s market cap.

As you can see these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $943 million. That figure was $3.44 billion in FDX’s case. American Tower Corp (NYSE:AMT) is the most popular stock in this table. On the other hand Carnival plc (ADR) (NYSE:CUK) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks FedEx Corporation (NYSE:FDX) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers and have a great deal of money invested in it, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None