Anchor Capital Advisors LLC Sells 19,524 Shares of Expeditors International of Washington, Inc. $EXPD

Key Points

• Anchor Capital Advisors reduced its Expeditors International of Washington position by 6%, selling 19,524 shares and retaining 305,976 shares valued at approximately $49.9 million.
• Institutional ownership remains high at 94.02%, with several investors increasing their holdings during the second quarter, including Allianz Asset Management and California State Teachers Retirement System.
• Analysts maintain a consensus “Hold” rating with an average price target of $168.78, despite Expeditors beating quarterly EPS estimates and reporting 32.1% year-over-year revenue growth.

Anchor Capital Advisors LLC trimmed its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 6.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 305,976 shares of the transportation company's stock after selling 19,524 shares during the quarter. Anchor Capital Advisors LLC owned about 0.24% of Expeditors International of Washington worth $49,868,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Allianz Asset Management GmbH lifted its position in Expeditors International of Washington by 44.5% during the second quarter. Allianz Asset Management GmbH now owns 612,352 shares of the transportation company's stock valued at $99,801,000 after acquiring an additional 188,581 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Expeditors International of Washington in the second quarter worth $38,377,000. California State Teachers Retirement System grew its holdings in Expeditors International of Washington by 12,384.8% in the second quarter. California State Teachers Retirement System now owns 40,489,447 shares of the transportation company's stock worth $6,598,970,000 after purchasing an additional 40,165,136 shares during the last quarter. Wedmont Private Capital increased its position in shares of Expeditors International of Washington by 10.3% during the second quarter. Wedmont Private Capital now owns 3,287 shares of the transportation company's stock worth $565,000 after purchasing an additional 306 shares in the last quarter. Finally, Drystone LLC increased its position in shares of Expeditors International of Washington by 0.7% during the second quarter. Drystone LLC now owns 53,706 shares of the transportation company's stock worth $8,753,000 after purchasing an additional 353 shares in the last quarter. 94.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EXPD has been the subject of a number of recent analyst reports. Stephens raised Expeditors International of Washington to a "strong-buy" rating in a research report on Wednesday, July 8th. Stifel Nicolaus upped their target price on Expeditors International of Washington from $154.00 to $158.00 and gave the company a "hold" rating in a research report on Wednesday, July 15th. Bank of America increased their price target on Expeditors International of Washington from $181.00 to $189.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Truist Financial raised their price target on Expeditors International of Washington from $145.00 to $175.00 and gave the stock a "hold" rating in a report on Wednesday, July 15th. Finally, Citizens Jmp initiated coverage on Expeditors International of Washington in a research note on Wednesday, July 15th. They set a "market perform" rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $168.78.

Expeditors International of Washington Stock Down 0.1%

Expeditors International of Washington stock opened at $188.60 on Tuesday. The stock has a 50-day moving average price of $178.96 and a 200 day moving average price of $161.21. The company has a market capitalization of $24.52 billion, a price-to-earnings ratio of 32.97, a price-to-earnings-growth ratio of 5.00 and a beta of 1.06. Expeditors International of Washington, Inc. has a 52 week low of $112.94 and a 52 week high of $192.28.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The transportation company reported $2.03 earnings per share (EPS) for the quarter, topping 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%. The firm's revenue was up 32.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.34 earnings per share. Research analysts anticipate that Expeditors International of Washington, Inc. will post 5.39 EPS for the current fiscal year.

About Expeditors International of Washington

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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