California State Teachers Retirement System Has $6.60 Billion Holdings in Expeditors International of Washington, Inc. $EXPD

Key Points

• California State Teachers Retirement System increased its Expeditors International stake by 12,384.8% in the second quarter, acquiring 40.17 million additional shares. Its 40.49 million shares represented a 31.15% ownership stake valued at approximately $6.60 billion.
• Expeditors reported strong quarterly results, with EPS of $2.03 versus the $1.69 consensus estimate and revenue growth of 32.1% year over year. The stock opened at $188.29, near its 12-month high of $192.28.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $168.78, below the reported share price. Institutional investors collectively own 94.02% of the company.

California State Teachers Retirement System boosted its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 12,384.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,489,447 shares of the transportation company's stock after purchasing an additional 40,165,136 shares during the quarter. California State Teachers Retirement System owned 31.15% of Expeditors International of Washington worth $6,598,970,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Elyxium Wealth LLC bought a new position in Expeditors International of Washington during the fourth quarter valued at about $28,000. DV Equities LLC bought a new stake in shares of Expeditors International of Washington during the fourth quarter valued at approximately $28,000. Nalls Sherbakoff Group LLC acquired a new position in shares of Expeditors International of Washington in the fourth quarter valued at $30,000. Hara Capital LLC bought a new position in Expeditors International of Washington in the second quarter worth $33,000. Finally, Continuum Advisory LLC bought a new stake in Expeditors International of Washington in the 2nd quarter valued at $33,000. 94.02% of the stock is owned by institutional investors.

Expeditors International of Washington Stock Up 1.3%

NASDAQ:EXPD opened at $188.29 on Thursday. The firm has a market cap of $24.48 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 5.00 and a beta of 1.06. Expeditors International of Washington, Inc. has a 12 month low of $112.94 and a 12 month high of $192.28. The company's 50-day moving average price is $179.86 and its two-hundred day moving average price is $161.73.

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 for the quarter, topping the consensus estimate 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 company's revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter last year, the business earned $1.34 earnings per share. On average, research analysts expect that Expeditors International of Washington, Inc. will post 5.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EXPD has been the topic of several recent research reports. TD Cowen lifted 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 report on Wednesday, August 5th. Stephens raised Expeditors International of Washington to a "strong-buy" rating in a report on Wednesday, July 8th. Barclays upped their price objective on Expeditors International of Washington from $150.00 to $160.00 and gave the company an "underweight" rating in a research note on Wednesday, August 5th. Stifel Nicolaus raised their target price on Expeditors International of Washington from $154.00 to $158.00 and gave the stock a "hold" rating in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. raised Expeditors International of Washington from an "underweight" rating to a "neutral" rating and set a $200.00 price target on the stock in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, 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, Inc is a global logistics and supply chain management company headquartered in Seattle, Washington. The company provides transportation and related services that help businesses move goods through international and domestic supply chains.

Its primary services include airfreight and ocean-freight forwarding, customs brokerage, cargo consolidation, warehousing and distribution, order management, and other supply chain solutions. Expeditors also offers technology-enabled shipment visibility and logistics coordination designed to support customers' import, export, and distribution activities.

Founded in 1979, Expeditors serves a broad range of industries through a network of offices and facilities across North America, Latin America, Europe, the Middle East, Africa, and the Asia-Pacific region.

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