FedEx builds on its cloud expertise

Article Excerpt

FEDEX CORP. $229 remains a buy. The company (New York symbol FDX; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 266.2 million; Market cap: $61.0 billion; Price-to-sales ratio: 0.7; Dividend yield: 1.2%; TSINetwork Rating: Average; www.fedex.com) delivers packages and documents in the U.S. and 220 other countries. In December 2020, the company paid $228 million for ShopRunner. Based in Chicago, that firm operates a membership service that gives consumers free two-day shipping, free returns, exclusive discounts and other benefits from over 100 retailers including Bloomingdale’s, Saks Fifth Avenue and Under Armour. FedEx now aims to expand the appeal of ShopRunner with a new multi-year alliance with Salesforce (New York symbol CRM). Integrating Salesforce’s cloud-based inventory-management software will help ShopRunner clients simplify their supply chains and improve their customer service. FedEx is a buy. buy…