Stock price when the opinion was issued
He sold it at $295 recently. Loves the company, but earnings revisions came down. He bought at $262. He may re-buy it if the price and valuation are right. FedEx is a dominant player and the management team proves they can execute. The founder family still owns a lot of shares, and such families don't make crazy decision to preserve their stake. Also, cost savings and a huge share buyback are plusses. Also, they have fewer unionized employees than UPS.
It's struggled in past years, but he's a long-term investor (6 years on average). They have rebounded along with the economy and the supply chain has eased. Good management name and will reap benefits of capital equipment investments .