Boomfish Wealth Group LLC Sells 18,307 Shares of Expeditors International of Washington, Inc. $EXPD

Key Points

• Boomfish Wealth Group cut its Expeditors International stake by 91.8% in the third quarter, selling 18,307 shares and retaining 1,633 shares valued at approximately $302,000.
• Institutional ownership remains high at 94.02%, with several major investors—including BlackRock, Caisse de dépôt et placement du Québec, and Legal & General—acquiring new positions.
• Expeditors reported quarterly EPS of $2.03, beating the $1.69 consensus estimate, while revenue increased 32.1% year over year. Despite strong performance, analysts maintain a consensus “Hold” rating with an average price target of $175.27.

Boomfish Wealth Group LLC lessened its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 91.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,633 shares of the transportation company's stock after selling 18,307 shares during the quarter. Boomfish Wealth Group LLC's holdings in Expeditors International of Washington were worth $302,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of EXPD. BlackRock Inc. acquired a new position in Expeditors International of Washington during the second quarter worth $2,193,093,000. Caisse de depot et placement du Quebec acquired a new stake in shares of Expeditors International of Washington in the second quarter worth about $169,665,000. Legal & General Group Plc acquired a new stake in shares of Expeditors International of Washington in the second quarter worth about $125,395,000. Bank of New York Mellon Corp bought a new stake in shares of Expeditors International of Washington during the 2nd quarter worth about $108,099,000. Finally, Deutsche Bank AG acquired a new position in shares of Expeditors International of Washington during the 2nd quarter valued at about $102,595,000. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

Expeditors International of Washington Stock Performance

Shares of EXPD opened at $196.38 on Friday. The company has a 50-day simple moving average of $190.66 and a 200-day simple moving average of $172.28. Expeditors International of Washington, Inc. has a 52 week low of $117.45 and a 52 week high of $200.66. The firm has a market capitalization of $25.53 billion, a P/E ratio of 34.33, a P/E/G ratio of 5.00 and a beta of 1.07.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last released 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 prior year, the business posted $1.34 earnings per share. The firm's revenue was up 32.1% compared to the same quarter last year. As a group, equities analysts forecast that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EXPD. 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. JPMorgan Chase & Co. upped their price objective on shares of Expeditors International of Washington from $200.00 to $214.00 and gave the stock a "neutral" rating in a report on Monday, October 5th. TD Cowen raised their target price on shares of Expeditors International of Washington from $148.00 to $176.00 and gave the company a "sell" rating in a research note on Wednesday, August 5th. Zacks Research downgraded shares of Expeditors International of Washington from a "strong-buy" rating to a "hold" rating in a report on Monday, October 5th. Finally, Barclays boosted their target price on shares of Expeditors International of Washington from $160.00 to $165.00 and gave the stock an "underweight" rating in a research report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $175.27.

Expeditors International of Washington Profile

Expeditors International of Washington, Inc is a global logistics company headquartered in Seattle, Washington. The company provides freight forwarding, transportation, customs brokerage and supply chain management services for businesses that move goods internationally.

Its services include airfreight and ocean-freight forwarding, customs clearance, warehousing and distribution, cargo insurance, order management, and other logistics solutions. Expeditors coordinates shipments through a worldwide network of offices and service providers, helping customers manage international trade requirements and supply chain operations.

Founded in 1979, Expeditors serves customers across North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.

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