Cibc World Market Inc. Acquires New Position in Expeditors International of Washington, Inc. $EXPD

Key Points

• CIBC World Market Inc. acquired 8,698 shares of Expeditors International of Washington worth approximately $1.42 million during the second quarter. Institutional investors collectively own 94.02% of the company.
• Expeditors reported quarterly EPS of $2.03, exceeding the $1.69 analyst consensus, while revenue increased 32.1% year over year.
• EXPD shares opened at $190.61, near their 12-month high of $191.79. Despite several target-price increases, analysts maintain an overall “Hold” rating with an average price target of $168.78.

Cibc World Market Inc. acquired a new stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,698 shares of the transportation company's stock, valued at approximately $1,418,000.

Other large investors also recently bought and sold shares of the company. Rossby Financial LCC increased its holdings in shares of Expeditors International of Washington by 9.3% in the 4th quarter. Rossby Financial LCC now owns 938 shares of the transportation company's stock valued at $140,000 after acquiring an additional 80 shares during the last quarter. Claro Advisors Inc. lifted its stake in Expeditors International of Washington by 5.0% during the fourth quarter. Claro Advisors Inc. now owns 1,743 shares of the transportation company's stock worth $260,000 after purchasing an additional 83 shares during the last quarter. Hardy Reed LLC lifted its stake in Expeditors International of Washington by 2.8% during the fourth quarter. Hardy Reed LLC now owns 3,513 shares of the transportation company's stock worth $523,000 after purchasing an additional 95 shares during the last quarter. Meeder Advisory Services Inc. boosted its holdings in Expeditors International of Washington by 5.4% in the fourth quarter. Meeder Advisory Services Inc. now owns 1,874 shares of the transportation company's stock worth $279,000 after purchasing an additional 96 shares during the period. Finally, Nicollet Investment Management Inc. boosted its holdings in Expeditors International of Washington by 0.9% in the fourth quarter. Nicollet Investment Management Inc. now owns 11,115 shares of the transportation company's stock worth $1,656,000 after purchasing an additional 98 shares during the period. Institutional investors own 94.02% of the company's stock.

Wall Street Analyst Weigh In

EXPD has been the subject of several recent research reports. TD Cowen boosted 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. Susquehanna lifted their price target on shares of Expeditors International of Washington from $142.00 to $156.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Barclays boosted their price objective on shares of Expeditors International of Washington from $150.00 to $160.00 and gave the company an "underweight" rating in a research report on Wednesday, August 5th. Zacks Research upgraded shares of Expeditors International of Washington from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Finally, Truist Financial raised their target price on shares of 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 equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $168.78.

Expeditors International of Washington Trading Up 0.2%

Shares of NASDAQ EXPD opened at $190.61 on Friday. The stock has a 50 day simple moving average of $175.18 and a 200-day simple moving average of $159.43. The company has a market cap of $24.78 billion, a PE ratio of 33.32, a P/E/G ratio of 5.00 and a beta of 1.04. Expeditors International of Washington, Inc. has a 12-month low of $112.94 and a 12-month high of $191.79.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.69 by $0.34. Expeditors International of Washington had a return on equity of 36.16% and a net margin of 7.64%.During the same period last year, the business posted $1.34 earnings per share. Expeditors International of Washington's quarterly revenue was up 32.1% on a year-over-year basis. Sell-side analysts forecast that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current fiscal year.

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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