BlackRock Inc. Acquires New Stake in Expeditors International of Washington, Inc. $EXPD

Key Points

• BlackRock acquired 13.46 million shares of Expeditors International, valued at approximately $2.19 billion, giving it a 10.29% stake. Institutional investors collectively own 94.02% of the company.
• Expeditors reported quarterly EPS of $2.03, beating estimates of $1.69, while revenue increased 32.1% year over year. Analysts expect full-year EPS of $5.39.
• EXPD shares were trading near a 52-week high at $186.25, but analysts maintain a consensus “Hold” rating with an average price target of $168.78.

BlackRock Inc. acquired a new stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,456,209 shares of the transportation company's stock, valued at approximately $2,193,093,000. BlackRock Inc. owned 10.29% of Expeditors International of Washington at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Elyxium Wealth LLC purchased a new position in shares of Expeditors International of Washington during the 4th quarter valued at $28,000. DV Equities LLC purchased a new stake in Expeditors International of Washington in the 4th quarter worth about $28,000. Nalls Sherbakoff Group LLC purchased a new stake in Expeditors International of Washington in the 4th quarter worth about $30,000. Bard Associates Inc. bought a new stake in Expeditors International of Washington in the 4th quarter valued at about $32,000. Finally, Geneos Wealth Management Inc. lifted its holdings in Expeditors International of Washington by 132.3% during the fourth quarter. Geneos Wealth Management Inc. now owns 230 shares of the transportation company's stock valued at $34,000 after purchasing an additional 131 shares during the last quarter. 94.02% of the stock is owned by hedge funds and other institutional investors.

Expeditors International of Washington Price Performance

Shares of NASDAQ:EXPD opened at $186.25 on Thursday. The company's fifty day moving average price is $172.19 and its 200-day moving average price is $158.37. The firm has a market capitalization of $24.21 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 5.00 and a beta of 1.04. Expeditors International of Washington, Inc. has a one year low of $112.94 and a one year high of $189.99.

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 (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%. Expeditors International of Washington's revenue was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.34 earnings per share. As a group, equities research analysts expect that Expeditors International of Washington, Inc. will post 5.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EXPD. Stephens upgraded shares of Expeditors International of Washington to a "strong-buy" rating in a research report on Wednesday, July 8th. Citizens Jmp began coverage on shares of Expeditors International of Washington in a research report on Wednesday, July 15th. They issued a "market perform" rating on the stock. TD Cowen raised their price objective on shares of Expeditors International of Washington from $148.00 to $176.00 and gave the stock a "sell" rating in a report on Wednesday, August 5th. UBS Group lifted their price objective on shares of Expeditors International of Washington from $191.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $168.78.

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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