Billionaires Mario Gabelli and Mason Hawkins Love These 5 Stocks

2. FedEx Corp (NYSE:FDX)

Number of Hedge Fund Investors: 70

Mario Gabelli’s Stake: $309,129

Mason Hawkins’ Stake: $122,719, 035

Earlier this month BofA set a $313 price target on FedEx Corp (NYSE:FDX) shares, which shows a strong upside potential to the current stock price of $241.

As of the end of the fourth quarter of 2023, 70 hedge funds out of the 933 funds tracked by Insider Monkey had stakes in FedEx Corp (NYSE:FDX).

The London Company Large Cap Strategy stated the following regarding FedEx Corporation (NYSE:FDX) in its fourth quarter 2023 investor letter:

FedEx Corporation (NYSE:FDX) – After a very positive start to the year, FDX lagged during 4Q after a weak earnings report and lowered guidance. Fundamentals improved throughout the year as FDX enacted major cost cuts, but a decline in volumes in the quarter was too much for the new cost structure to overcome. Longer term, FDX has the potential to be a strong player in the transportation industry, but it will have to continue adjusting its fleet and network to an evolving marketplace.”