Empowered Funds LLC Lowers Position in Expeditors International of Washington, Inc. $EXPD

Key Points

• Empowered Funds LLC cut its Expeditors International of Washington stake by 59.4% in the second quarter, selling 33,196 shares and retaining 22,726 shares valued at approximately $3.7 million.
• Institutional ownership remains substantial at 94.02%, with BlackRock initiating a roughly $2.2 billion position and Wellington Management increasing its stake by 64.1%.
• 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 versus the stock’s $187.72 opening price.

Empowered Funds LLC decreased its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 59.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,726 shares of the transportation company's stock after selling 33,196 shares during the period. Empowered Funds LLC's holdings in Expeditors International of Washington were worth $3,704,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Expeditors International of Washington in the 2nd quarter valued at about $2,193,093,000. State Street Corp grew its holdings in shares of Expeditors International of Washington by 5.2% during the third quarter. State Street Corp now owns 7,708,656 shares of the transportation company's stock worth $945,004,000 after purchasing an additional 377,703 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Expeditors International of Washington by 0.5% during the fourth quarter. First Eagle Investment Management LLC now owns 6,312,305 shares of the transportation company's stock worth $940,597,000 after purchasing an additional 32,063 shares in the last quarter. Bank of America Corp DE increased its position in shares of Expeditors International of Washington by 0.8% in the second quarter. Bank of America Corp DE now owns 2,585,934 shares of the transportation company's stock worth $421,456,000 after purchasing an additional 21,400 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Expeditors International of Washington by 64.1% in the third quarter. Wellington Management Group LLP now owns 1,920,927 shares of the transportation company's stock worth $235,486,000 after purchasing an additional 749,993 shares during the last quarter. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

Expeditors International of Washington Stock Down 1.0%

Expeditors International of Washington stock opened at $187.72 on Wednesday. The company has a market capitalization of $24.40 billion, a PE ratio of 32.82, a P/E/G ratio of 5.00 and a beta of 1.04. The firm has a fifty day simple moving average of $176.83 and a two-hundred day simple moving average of $160.01. Expeditors International of Washington, Inc. has a twelve month low of $112.94 and a twelve month high of $192.28.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last announced its quarterly earnings data 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 return on equity of 36.16% and a net margin of 7.64%.The firm's revenue was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.34 EPS. As a group, equities analysts expect that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EXPD. Citizens Jmp started coverage on shares of Expeditors International of Washington in a research report on Wednesday, July 15th. They set a "market perform" rating for the company. TD Cowen raised 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 report on Wednesday, August 5th. Barclays upped their target price on shares of Expeditors International of Washington from $150.00 to $160.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 5th. Zacks Research raised Expeditors International of Washington from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Finally, Stephens upgraded Expeditors International of Washington to a "strong-buy" rating in a research report on Wednesday, July 8th. Two equities research 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, the company has a consensus rating of "Hold" and an average target price of $168.78.

Expeditors International of Washington Company Profile

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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