FedEx Corporation (FDX) Has the Potential to Improve Operating Results

The London Company, an investment management company, released “The London Company Large Cap Strategy” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund returned 2.7% gross, (2.6% net) compared to a 7.5% increase in the Russell 1000 Index. Both Stock Selection and sector allocation affected the portfolio’s relative performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

The London Company Large Cap Strategy highlighted stocks like FedEx Corporation (NYSE:FDX) in the first quarter 2023 investor letter. Headquartered in Memphis, Tennessee, FedEx Corporation (NYSE:FDX) offers transportation, e-commerce, and business services. On June 29, 2023, FedEx Corporation (NYSE:FDX) stock closed at $249.98 per share. One-month return of FedEx Corporation (NYSE:FDX) was 12.74%, and its shares gained 11.79% of their value over the last 52 weeks. FedEx Corporation (NYSE:FDX) has a market capitalization of $62.833 billion.

The London Company Large Cap Strategy made the following comment about FedEx Corporation (NYSE:FDX) in its first quarter 2023 investor letter:

“FedEx Corporation (NYSE:FDX) – FDX shares rebounded in Q1 following weakness in 2022. FDX was able to exceed lowered earnings expectations on better cost containment including trimming management ranks. We continue to own FDX shares reflecting its global parcel and freight networks, as well as the company’s potential to improve operating results to peer levels that would create significant shareholder value.”

FedEx Corporation (NYSE:FDX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 55 hedge fund portfolios held FedEx Corporation (NYSE:FDX) at the end of first quarter 2023 which was 48 in the previous quarter.

We discussed FedEx Corporation (NYSE:FDX) in another article and shared the list of best industrial stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.