Chilton Investment exits its position in FedEx Corporation


Feb. 24 2015, Updated 1:05 p.m. ET

Chilton Investment and FedEx

Chilton Investment Company started new positions in Sonic Corporation (SONC), Endo International plc (ENDP), Apache Corporation (APA), and Realogy Holdings Corp. (RLGY). It closed positions in FedEx Corporation (FDX) and Priceline Group Inc. (PCLN). Chilton increased position in FleetCor Technologies, Inc. (FLT) and Covidien plc (COV). It decreased positions in Wynn Resorts Ltd. (WYNN) and Timken Company (TKR).

Chilton Investment Company exited its position in FedEx Corporation (FDX), which accounted for 2.55% of the fund’s 3Q14 portfolio.

FDX has a 2.51% exposure to the Industrial Select Sector SPRD Fund (XLI). The ETF tracks the overall performance of 66 publicly traded companies in the industrial sector.

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Overview of FedEx Corporation

FedEx Corporation (FDX) is based in Memphis, Tennessee. The company provides a broad portfolio of transportation, e-commerce, and business services through companies competing collectively, operating independently, and managing collaboratively under the FedEx brand.

Below are the company’s three primary operating companies:

  • Federal Express, an express transportation company
  • FedEx Ground Package System, a North American provider of small package ground delivery services
  • FedEx Freight, a North American provider of less-than-truckload freight services

These companies represent FedEx’s major service lines. Along with FedEx Corporate Services, these companies form the core of the company’s reportable segments.

The FedEx Corporate Services segment provides sales, marketing, information technology, communications, and back office support to transportation segments. The segments provide customers with retail access to Federal Express and FedEx Ground shipping services through FedEx Office print services. The segments also provide customer service, technical support, and billing and collection services through FedEx TechConnect.

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FedEx introduces loyalty programs for small enterprises

In February 2015, FedEx Corporation (FDX) announced the expansion of its loyalty programs. My FedEx Rewards builds on the company’s already existing loyalty program in order to include participation from small and medium enterprises as well.

Becky Huling, FedEx’s vice president of customer engagement, stated, “Building long-term relationships with our customers is embedded in the FedEx culture. My FedEx Rewards offers real benefits to our small business customers through special offers and rewards, and we are excited to deepen these important relationships.”

Through this loyalty program, small companies will be able to earn rewards on a variety of FedEx services. FedEx services help small businesses access the global marketplace by providing shipping and logistics solutions.

FedEx Corporation completes acquisition of GENCO

In January 2015, FedEx Corporation (FDX) announced it has completed the acquisition of GENCO distribution system,which now offers customers a comprehensive portfolio of logistics services.

Frederick W. Smith, chairman and CEO (chief executive officer) of FedEx Corporation, said, “We are extremely pleased to welcome GENCO teammates to the FedEx family. We believe this acquisition demonstrates our commitment to our customers with enhanced supply chain and logistics offerings, which will also continue to drive growth. We look forward to starting the integration process.”

GENCO will now operate as a subsidiary company of FedEx Corporation (FDX).

The next article in this series will explore Chilton Investment Company’s exit from its position in Priceline Group Inc. (PCLN).


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