Corient Private Wealth LP Lowers Position in Expeditors International of Washington, Inc. $EXPD

Key Points

• Corient Private Wealth cut its Expeditors International stake by 17.3% in the second quarter, selling 8,819 shares and retaining 42,206 shares valued at approximately $6.9 million.
• Institutional ownership remains high at 94.02%, with several major investors increasing their positions; BlackRock also established a new stake worth about $2.2 billion.
• Expeditors reported quarterly EPS of $2.03, beating estimates of $1.69, while revenue rose 32.1% year over year. Despite strong results, analysts’ consensus rating is “Hold,” with an average price target of $168.78.

Corient Private Wealth LP lessened its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 17.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,206 shares of the transportation company's stock after selling 8,819 shares during the quarter. Corient Private Wealth LP's holdings in Expeditors International of Washington were worth $6,879,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Expeditors International of Washington in the 2nd quarter worth $2,193,093,000. Bank of America Corp DE lifted its position in shares of Expeditors International of Washington by 0.8% during the second quarter. Bank of America Corp DE now owns 2,585,934 shares of the transportation company's stock valued at $421,456,000 after purchasing an additional 21,400 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Expeditors International of Washington by 10.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,155,313 shares of the transportation company's stock valued at $351,273,000 after purchasing an additional 195,351 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Expeditors International of Washington by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,522,593 shares of the transportation company's stock worth $218,068,000 after purchasing an additional 37,795 shares during the last quarter. Finally, Amundi boosted its holdings in Expeditors International of Washington by 41.4% during the first quarter. Amundi now owns 1,384,347 shares of the transportation company's stock worth $198,280,000 after purchasing an additional 405,129 shares during the last quarter. Hedge funds and other institutional investors own 94.02% of the company's stock.

Expeditors International of Washington Trading Down 0.0%

EXPD opened at $188.97 on Friday. The company has a 50 day moving average of $182.79 and a 200 day moving average of $163.65. The company has a market cap of $24.56 billion, a PE ratio of 33.04, 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 $194.59.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last issued its earnings results on Tuesday, August 4th. The transportation company reported $2.03 earnings per share (EPS) for the quarter, beating 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 previous year, the business posted $1.34 EPS. Research analysts forecast that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on EXPD. TD Cowen increased their price objective 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. Citizens Jmp initiated coverage on Expeditors International of Washington in a report on Wednesday, July 15th. They issued a "market perform" rating for the company. Stephens raised Expeditors International of Washington to a "strong-buy" rating in a research report on Wednesday, July 8th. Bank of America lifted their price target on Expeditors International of Washington from $181.00 to $189.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Finally, Truist Financial boosted their price objective on Expeditors International of Washington from $145.00 to $175.00 and gave the stock a "hold" rating in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Expeditors International of Washington has an average rating of "Hold" and an average price target of $168.78.

Expeditors International of Washington Profile

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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