Assenagon Asset Management S.A. Sells 61,915 Shares of Expeditors International of Washington, Inc. $EXPD

Key Points

• Assenagon Asset Management cut its Expeditors stake by 79%, selling 61,915 shares in the second quarter and retaining 16,483 shares valued at approximately $2.69 million.
• Other institutional investors increased their positions, and hedge funds and institutions collectively own 94.02% of EXPD shares.
• Expeditors reported quarterly EPS of $2.03, beating estimates of $1.69, while revenue rose 32.1% year over year. The stock traded near its 12-month high, but analysts’ average rating remained “Hold” with a $168.78 target price.

Assenagon Asset Management S.A. cut its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 79.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,483 shares of the transportation company's stock after selling 61,915 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Expeditors International of Washington were worth $2,686,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Arjuna Capital grew its holdings in shares of Expeditors International of Washington by 37.0% in the fourth quarter. Arjuna Capital now owns 23,940 shares of the transportation company's stock worth $3,567,000 after purchasing an additional 6,471 shares during the last quarter. Swedbank AB lifted its holdings in Expeditors International of Washington by 153.5% during the 4th quarter. Swedbank AB now owns 29,678 shares of the transportation company's stock valued at $4,422,000 after buying an additional 17,969 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Expeditors International of Washington by 128.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,509 shares of the transportation company's stock valued at $10,507,000 after buying an additional 39,658 shares during the period. Forsta AP Fonden boosted its position in Expeditors International of Washington by 81.4% in the 4th quarter. Forsta AP Fonden now owns 89,600 shares of the transportation company's stock valued at $13,351,000 after buying an additional 40,200 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new position in Expeditors International of Washington in the 4th quarter worth about $32,004,000. 94.02% of the stock is owned by hedge funds and other institutional investors.

Expeditors International of Washington Price Performance

EXPD stock opened at $186.97 on Friday. The company has a market capitalization of $24.30 billion, a P/E ratio of 32.69, a price-to-earnings-growth ratio of 5.00 and a beta of 1.04. The firm's fifty day simple moving average is $170.31 and its 200-day simple moving average is $157.60. Expeditors International of Washington, Inc. has a 12 month low of $112.94 and a 12 month high of $187.74.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The transportation company reported $2.03 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%. During the same quarter in the previous year, the business posted $1.34 EPS. The firm's quarterly revenue was up 32.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Bank of America raised 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. Citizens Jmp started coverage on shares of Expeditors International of Washington in a research note on Wednesday, July 15th. They issued a "market perform" rating for the company. Zacks Research upgraded shares of Expeditors International of Washington from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Stephens raised shares of Expeditors International of Washington to a "strong-buy" rating in a research report on Wednesday, July 8th. Finally, Barclays boosted their price target on shares of Expeditors International of Washington from $150.00 to $160.00 and gave the company an "underweight" rating in a report on Wednesday, August 5th. Two investment 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, Expeditors International of Washington presently has an average rating of "Hold" and an average 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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