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Mason Hawkins' Longleaf Partners Comments on FedEx
Posted by: guruhl (IP Logged)
Date: October 25, 2013 03:49PM
FedEx (FDX) gained 25% over the last nine months after delivering 16% in the third quarter. The stock increase reflects some degree of confidence that management will execute planned cost cuts at the Express air delivery segment to adjust to the migration of more traffic onto ships and trucks due to high oil prices. While the stock has been volatile over the past year, our appraisal of the company has steadily grown, driven by the Ground segment. Subsequent to quarter-end, FedEx announced a share repurchase plan of 11% of the company.
From Mason Hawkins' Longleaf Partners Fund third quarter 2013 commentary.
Guru Discussed: Mason Hawkins: Current Portfolio, Stock Picks
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