How do we determine whether FedEx Corporation (NYSE:FDX) makes for a good investment at the moment? We analyze the sentiment of a select group of the very best investors in the world, who spend immense amounts of time and resources studying companies. They may not always be right (no one is), but data shows that their consensus long positions have historically outperformed the market when we adjust for known risk factors.
Is FedEx Corporation a healthy stock for your portfolio? Investors who are in the know are taking an optimistic view. The number of long hedge fund positions increased by 1 recently. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as The Southern Company (NYSE:SO), Carnival Corporation (NYSE:CCL), and Itau Unibanco Holding SA (ADR) (NYSE:ITUB) to gather more data points.
In the financial world, there are numerous tools shareholders can use to appraise their holdings. A couple of the best tools are hedge fund and insider trading interest. Our researchers have shown that, historically, those who follow the best picks of the top money managers can beat the market by a healthy amount (see the details here).
Keeping this in mind, we’re going to take a look at the new action encompassing FedEx Corporation (NYSE:FDX).
What does the smart money think about FedEx Corporation (NYSE:FDX)?
At the end of the third quarter, a total of 53 of the hedge funds tracked by Insider Monkey were long this stock, inching up by 2% from one quarter earlier. With hedgies’ positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were upping their holdings substantially (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, Mason Hawkins’s Southeastern Asset Management has the largest position in FedEx Corporation (NYSE:FDX), worth close to $919.5 million, corresponding to 7.8% of its total 13F portfolio. On Southeastern Asset Management’s heels is Edgar Wachenheim of Greenhaven Associates, with a $651.3 million position; 13% of its 13F portfolio is allocated to the stock. Other professional money managers with similar optimism comprise Michael Larson’s Bill & Melinda Gates Foundation Trust, and D. E. Shaw’s D E Shaw.