BI Asset Management Fondsmaeglerselskab A S Grows Position in Expeditors International of Washington, Inc. $EXPD

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in Expeditors International by 71.3% in the first quarter, buying 7,334 additional shares and bringing its holdings to 17,619 shares worth about $2.5 million.
• Expeditors International reported better-than-expected quarterly earnings of $1.71 per share versus the $1.33 consensus estimate, while revenue rose 4.4% year over year.
• Despite recent institutional buying and solid results, the stock was down 1.2% on the day, and analysts currently have a consensus rating of Hold with an average price target of $137.30.

BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 71.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,619 shares of the transportation company's stock after purchasing an additional 7,334 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Expeditors International of Washington were worth $2,524,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp grew its stake in Expeditors International of Washington by 5.2% during the 3rd quarter. State Street Corp now owns 7,708,656 shares of the transportation company's stock valued at $945,004,000 after purchasing an additional 377,703 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of Expeditors International of Washington by 0.5% during the fourth quarter. First Eagle Investment Management LLC now owns 6,312,305 shares of the transportation company's stock worth $940,597,000 after purchasing an additional 32,063 shares during the period. Marshfield Associates lifted its holdings in shares of Expeditors International of Washington by 4.6% during the third quarter. Marshfield Associates now owns 1,942,740 shares of the transportation company's stock worth $238,161,000 after purchasing an additional 86,182 shares during the period. Wellington Management Group LLP boosted its position in Expeditors International of Washington by 64.1% in the third quarter. Wellington Management Group LLP now owns 1,920,927 shares of the transportation company's stock valued at $235,486,000 after buying an additional 749,993 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Expeditors International of Washington by 733.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,887,853 shares of the transportation company's stock valued at $231,432,000 after buying an additional 1,661,457 shares during the last quarter. Hedge funds and other institutional investors own 94.02% of the company's stock.

Expeditors International of Washington Stock Down 1.2%

Shares of NASDAQ EXPD opened at $161.26 on Wednesday. The company's 50-day simple moving average is $155.98 and its 200-day simple moving average is $152.86. Expeditors International of Washington, Inc. has a 52-week low of $110.48 and a 52-week high of $168.52. The firm has a market cap of $21.09 billion, a price-to-earnings ratio of 28.19, a price-to-earnings-growth ratio of 5.00 and a beta of 1.05.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The transportation company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.38. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. The business's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.47 earnings per share. Equities research analysts anticipate that Expeditors International of Washington, Inc. will post 5.39 EPS for the current fiscal year.

Expeditors International of Washington Announces Dividend

The company also recently announced a dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.81 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a dividend yield of 101.0%. Expeditors International of Washington's dividend payout ratio is presently 26.21%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on EXPD. Zacks Research raised shares of Expeditors International of Washington from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. increased their price objective on shares of Expeditors International of Washington from $135.00 to $139.00 and gave the stock an "underweight" rating in a research note on Wednesday, May 6th. Truist Financial reduced their target price on shares of Expeditors International of Washington from $160.00 to $140.00 and set a "hold" rating for the company in a report on Wednesday, February 25th. Susquehanna boosted their target price on shares of Expeditors International of Washington from $142.00 to $156.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Finally, Wolfe Research raised shares of Expeditors International of Washington from a "strong sell" rating to a "hold" rating in a report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $137.30.

Expeditors International of Washington 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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