5 Best Logistics Stocks to Buy

3. FedEx Corporation (NYSE:FDX)

Number of Hedge Fund Holders: 55

Dollar Value of Hedge Fund Holdings: $2,682,257,000

FedEx Corporation (NYSE:FDX) is a Memphis, Tennessee-based logistics and transportation company. The company is famous for its express delivery services.

FedEx Corporation (NYSE:FDX) is in the middle of a transformation journey as it is implementing cost-reduction measures and driving operational improvements with a keen focus on enhancing the customer experience. The DRIVE transformation initiatives have started to generate positive results for FedEx Corporation (NYSE:FDX). Furthermore, in April, the company also announced a 10% dividend increase for FY 2024.

Here’s what The London Company said about FedEx Corporation (NYSE:FDX) in its Q1 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.”