This article presents an overview of 5 Best Delivery Stocks to Buy According to Hedge Funds. For a detailed overview of such stocks read our article, 11 Best Delivery Stocks to Buy According to Hedge Funds.
5. DoorDash, Inc. (NYSE:DASH)
Number of Hedge Fund Holders: 64
DoorDash, Inc. (NYSE:DASH) is the largest food delivery platform in the United States. The company has expanded in other areas, including convenience delivery, in which it now holds over 60% market share in the U.S. Despite the large market share, the company continues to leverage partnerships to fuel growth. Over the past one year, the company’s stock has risen a staggering 128% in value.
DoorDash, Inc. (NYSE:DASH) experienced an uptrend in hedge fund holdings that increased from 57 to 64 in Q4 2023. The total value of these holdings jumped from approximately $2.2 billion to $3.0 billion. The impressive increase of $733.77 million in total value reflects robust hedge fund confidence in the growth trajectory of DoorDash, Inc. (NYSE:DASH).
4. Shopify Inc. (NYSE:SHOP)
Number of Hedge Fund Holders: 68
Shopify Inc. (NYSE:SHOP) is an e-commerce giant. It enables businesses to set up online stores and sell their products. Although not a pure-play delivery company, Shopify Inc. (NYSE:SHOP) integrates with various delivery services to provide seamless logistics support to its merchants. The Shopify Fulfillment Network offers smart inventory allocation across warehouses and streamlined fulfillment processes to ensure timely deliveries.
Hedge fund holdings in Shopify Inc. (NYSE:SHOP) slightly decreased from 69 to 68 in Q4 2023. Despite this, the total value of these holdings surged significantly from around $2.7 billion to $5.9 billion.
3. FedEx Corporation (NYSE:FDX)
Number of Hedge Fund Holders: 70
FedEx Corporation (NYSE:FDX) provides a comprehensive suite of delivery services, including overnight couriers, freight services, and international shipping. The company continues to invest in technology to enhance its logistics infrastructure, providing real-time tracking and efficient delivery solutions to its customers. Recently, FedEx Corporation (NYSE:FDX) is reported to have been in talks with Amazon (NASDAQ:AMZN) to do business together. Both the companies ended their partnership back in 2019.
In Q4 2023, FedEx Corporation (NYSE:FDX) saw its hedge fund holdings increase from 67 to 70. However, the total value of these holdings decreased from about $2.9 billion to $2.3 billion, a reduction of roughly $640.66 million.
2. Uber Technologies, Inc. (NYSE:UBER)
Number of Hedge Fund Holders: 129
Uber Technologies, Inc. (NYSE:UBER) is widely recognized for its ride-sharing service. However, the company has made a substantial impact with Uber Eats, its food delivery service. Uber Eats operates in numerous cities globally. It offers a platform for restaurants to deliver food to customers efficiently. Uber Technologies, Inc. (NYSE:UBER) continues to innovate in the delivery space. It is exploring autonomous delivery technologies and expanding its delivery services beyond food.
Hedge fund holdings in Uber Technologies, Inc. (NYSE:UBER) decreased from 146 to 129 in Q4 2023. Despite the reduced number of hedge funds, the total value of hedge fund holdings increased from around $8.1 billion to $8.7 billion.
1. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 293
Amazon.com, Inc. (NASDAQ:AMZN) is a global leader in e-commerce and cloud computing, with a vast delivery network that sets the standard for the industry. Amazon Prime offers expedited delivery services, including two-day and same-day delivery options. The company is pioneering in delivery innovation with drone delivery initiatives, advanced robotics in its fulfillment centers, and a dedicated air cargo fleet to ensure rapid delivery times.
For Amazon.com, Inc. (NASDAQ:AMZN), there was an increase in hedge fund holdings from 286 to 293 in Q4 2023. Additionally, the total value of the holdings increased significantly from roughly $38.8 billion to $50.8 billion. The staggering increase of approximately $11.9 billion indicates strong hedge fund conviction in Amazon.com, Inc. (NASDAQ:AMZN)’s continued dominance and growth potential.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also look at the 10 Underperforming Stocks Insiders are Buying and the Insiders are Piling into These 10 Healthcare Stocks in 2024.
