1832 Asset Management L.P. Reduces Holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

1832 Asset Management L.P. lowered its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 8.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 853,353 shares of the transportation company’s stock after selling 78,880 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.60% of Expeditors International of Washington worth $106,490,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Prudential PLC raised its position in shares of Expeditors International of Washington by 80.5% in the fourth quarter. Prudential PLC now owns 88,169 shares of the transportation company’s stock valued at $11,215,000 after buying an additional 39,321 shares during the last quarter. Swedbank AB acquired a new stake in shares of Expeditors International of Washington during the first quarter worth $2,954,000. Banco Santander S.A. boosted its holdings in shares of Expeditors International of Washington by 141.0% during the first quarter. Banco Santander S.A. now owns 89,903 shares of the transportation company’s stock worth $10,930,000 after purchasing an additional 52,603 shares during the last quarter. Magnetar Financial LLC acquired a new position in Expeditors International of Washington in the first quarter valued at $1,305,000. Finally, Assenagon Asset Management S.A. increased its stake in Expeditors International of Washington by 62.5% in the second quarter. Assenagon Asset Management S.A. now owns 182,816 shares of the transportation company’s stock valued at $22,814,000 after purchasing an additional 70,329 shares during the last quarter. Institutional investors and hedge funds own 94.02% of the company’s stock.

Expeditors International of Washington Price Performance

Shares of NASDAQ EXPD opened at $123.18 on Monday. Expeditors International of Washington, Inc. has a 1-year low of $107.03 and a 1-year high of $131.17. The company has a market capitalization of $17.40 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 5.59 and a beta of 0.97. The business has a 50-day moving average of $122.00 and a 200-day moving average of $120.50.

Expeditors International of Washington (NASDAQ:EXPD) last issued its quarterly earnings data on Tuesday, August 6th. The transportation company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.02). Expeditors International of Washington had a net margin of 7.40% and a return on equity of 29.15%. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period last year, the business earned $1.30 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. Research analysts expect that Expeditors International of Washington, Inc. will post 5.01 EPS for the current fiscal year.

Analysts Set New Price Targets

EXPD has been the subject of a number of research analyst reports. Bank of America upped their price objective on shares of Expeditors International of Washington from $131.00 to $132.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Robert W. Baird increased their price target on shares of Expeditors International of Washington from $118.00 to $126.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 3rd. UBS Group upgraded shares of Expeditors International of Washington from a “sell” rating to a “neutral” rating and lifted their price target for the company from $95.00 to $137.00 in a report on Thursday, August 1st. Benchmark restated a “hold” rating on shares of Expeditors International of Washington in a report on Wednesday, August 7th. Finally, Wolfe Research upgraded Expeditors International of Washington from an “underperform” rating to a “peer perform” rating in a report on Tuesday, May 28th. Two equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. According to data from MarketBeat, Expeditors International of Washington has an average rating of “Hold” and an average price target of $116.00.

Expeditors International of Washington Company Profile

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services worldwide. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, import, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other supply chain solutions.