Engineers Gate Manager LP Has $7.59 Million Position in Expeditors International of Washington, Inc. $EXPD

Key Points

• Engineers Gate Manager LP increased its Expeditors International of Washington position by 21.6% in the second quarter, holding 46,565 shares worth approximately $7.59 million.
• Institutional ownership remains high at 94.02%, with major investors including California State Teachers Retirement System, BlackRock, UBS Asset Management, Southpoint Capital Advisors and Norges Bank.
• Expeditors reported second-quarter EPS of $2.03, beating estimates of $1.69, while revenue rose 32.1% year over year. Analysts’ average rating is “Hold,” with an average price target of $168.78, below the stock’s $189.17 opening price.

Engineers Gate Manager LP boosted its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 21.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 46,565 shares of the transportation company's stock after buying an additional 8,283 shares during the quarter. Engineers Gate Manager LP's holdings in Expeditors International of Washington were worth $7,589,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. California State Teachers Retirement System increased its stake in shares of Expeditors International of Washington by 12,384.8% in the 2nd quarter. California State Teachers Retirement System now owns 40,489,447 shares of the transportation company's stock valued at $6,598,970,000 after buying an additional 40,165,136 shares during the period. BlackRock Inc. acquired a new position in shares of Expeditors International of Washington during the second quarter valued at $2,193,093,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Expeditors International of Washington by 733.9% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,887,853 shares of the transportation company's stock valued at $231,432,000 after acquiring an additional 1,661,457 shares during the period. Southpoint Capital Advisors LP bought a new position in Expeditors International of Washington in the fourth quarter valued at about $201,164,000. Finally, Norges Bank bought a new position in Expeditors International of Washington in the fourth quarter valued at about $180,719,000. 94.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. TD Cowen boosted their price objective on Expeditors International of Washington from $148.00 to $176.00 and gave the stock a "sell" rating in a report on Wednesday, August 5th. UBS Group raised their target price on shares of Expeditors International of Washington from $191.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Stephens upgraded shares of Expeditors International of Washington to a "strong-buy" rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. raised shares of Expeditors International of Washington from an "underweight" rating to a "neutral" rating and set a $200.00 price target for the company in a research note on Wednesday, August 5th. Finally, Citizens Jmp began coverage on shares of Expeditors International of Washington in a report on Wednesday, July 15th. They issued a "market perform" rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, Expeditors International of Washington has an average rating of "Hold" and an average price target of $168.78.

Expeditors International of Washington Stock Up 0.5%

Shares of Expeditors International of Washington stock opened at $189.17 on Friday. The business has a fifty day simple moving average of $180.29 and a 200 day simple moving average of $161.96. The stock has a market cap of $24.59 billion, a PE ratio of 33.07, 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.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last released its earnings results on Tuesday, August 4th. The transportation company reported $2.03 earnings per share for the quarter, beating the consensus estimate 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 earned $1.34 EPS. The firm's revenue was up 32.1% on a year-over-year basis. Analysts expect that Expeditors International of Washington, Inc. will post 5.39 EPS for the current fiscal year.

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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