663,263 Shares in Expeditors International of Washington, Inc. $EXPD Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 663,263 shares of Expeditors International of Washington in the second quarter, valued at approximately $108.1 million and representing about 0.51% of the company.
• Expeditors reported quarterly earnings of $2.03 per share, exceeding estimates of $1.69, while revenue increased 32.1% year over year. Institutional investors collectively own 94.02% of the stock.
• EXPD shares opened at $187.92, near their 12-month high of $189.99. Analysts’ consensus rating is “Hold”, with an average price target of $168.78.

Bank of New York Mellon Corp purchased a new position in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 663,263 shares of the transportation company's stock, valued at approximately $108,099,000. Bank of New York Mellon Corp owned about 0.51% of Expeditors International of Washington as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of EXPD. Elyxium Wealth LLC purchased a new position in shares of Expeditors International of Washington during the 4th quarter worth $28,000. DV Equities LLC purchased a new position in shares of Expeditors International of Washington in the 4th quarter worth about $28,000. Nalls Sherbakoff Group LLC acquired a new position in Expeditors International of Washington during the fourth quarter valued at approximately $30,000. Bard Associates Inc. acquired a new position in shares of Expeditors International of Washington during the 4th quarter valued at $32,000. Finally, Geneos Wealth Management Inc. boosted its position in Expeditors International of Washington by 132.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 230 shares of the transportation company's stock worth $34,000 after purchasing an additional 131 shares during the period. Hedge funds and other institutional investors own 94.02% of the company's stock.

Expeditors International of Washington Price Performance

Shares of EXPD stock opened at $187.92 on Tuesday. Expeditors International of Washington, Inc. has a 12 month low of $112.94 and a 12 month high of $189.99. The firm has a market capitalization of $24.43 billion, a P/E ratio of 32.85, a P/E/G ratio of 5.00 and a beta of 1.04. The company's fifty day moving average price is $173.50 and its two-hundred day moving average price is $158.90.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The transportation company reported $2.03 earnings per share for the quarter, beating analysts' consensus estimates of $1.69 by $0.34. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. During the same period in the previous year, the company posted $1.34 earnings per share. The company's quarterly revenue was up 32.1% on a year-over-year basis. On average, sell-side analysts anticipate that Expeditors International of Washington, Inc. will post 5.39 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EXPD. Stifel Nicolaus increased their price target on Expeditors International of Washington from $154.00 to $158.00 and gave the company a "hold" rating in a report on Wednesday, July 15th. TD Cowen boosted their price objective on Expeditors International of Washington from $148.00 to $176.00 and gave the stock a "sell" rating in a research note on Wednesday, August 5th. Susquehanna upped their target price on Expeditors International of Washington from $142.00 to $156.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Bank of America raised their target price on Expeditors International of Washington from $181.00 to $189.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. raised Expeditors International of Washington from an "underweight" rating to a "neutral" rating and set a $200.00 price target on the stock in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Expeditors International of Washington has an average rating of "Hold" and a consensus target price of $168.78.

Expeditors International of Washington Company Profile

Expeditors International of Washington is a global logistics and freight forwarding company headquartered in Seattle, Washington. The firm specializes in providing tailored supply chain solutions that encompass air, ocean and ground transportation. Through an integrated service model, Expeditors coordinates and manages the movement of goods for a diverse customer base, including manufacturers, retailers and technology companies.

The company's core offerings include customs brokerage, cargo insurance, distribution and warehousing services, as well as vendor consolidation and inventory management.

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