We are removing shares of FedEx after a strong run.
FDX was added to Investing Ideas on 2/27/13. Shares have gained over 30% during this time compared to a roughly 19% return for the S&P 500.
Industrials Sector Head Jay Van Sciver explains that we are removing FDX as a good portion of our thesis has played out and we are developing other ideas for next week that may offer better future returns.
There is nothing ‘wrong’ with FDX according to Van Sciver, and we would look for re-entry points should the shares retreat. FDX shares may continue to work well for investors, but the recent market retreat has opened up better opportunities in our sector.