Soros and other hedge funds love this stock

Soros and other hedge funds love this stock

What do George Soros, John Paulson, and Dan Loeb all have in common?

They're all fund managers who bought shares of FedEx in the last quarter. Some of the smartest of the smart money are now betting big on FedEx and now FedEx is now exploring the possibilities of Sunday deliveries to handle Internet sales.

Speaking to CNBC's Squawk Box Friday morning, founder and CEO Fred Smith said:

"Well, if the consumer wants e-commerce items delivered on Sunday, FedEx with our broad portfolio of services in that space is uniquely situated to do it and we'll be looking at it carefully."

(Watch: No plans to leave in near future: FedEx CEO Fred Smith)

FedEx isn't just delivering packages. It's also delivering returns to investors. Shares are up 29% in the last two months and 51% year-to-date. That's far outperforming the S&P 500 index, which is up 7% and 26% for those respective time frames.

FedEx's stock was buoyed last month when it announced a buyback of 32 million of its shares, a little more than 10% of its total shares outstanding.

With shares at record highs and with the big guns – plus the company itself – buying FedEx's stock, is this the peak or is there more upside ahead?

(Watch: Whale watching: Buying what the big boys buy)

On CNBC's Street Signs' Talking Numbers segment, the FedEx is analyzed from the fundamental and technical perspective.

Taking a look at the stock's charts is Jeff Kilburg, founder and CEO of KKM Financial. On the fundamentals is Jim Corridore, Senior Associate Director at S&P Capital IQ.

Is FedEx a buy at these levels? Watch the video above to hear the fundamentals and the technicals take on this stock.

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