Expeditors International of Washington, Inc. $EXPD Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its Expeditors International stake by 2.9%, selling 77,176 shares and retaining 2.56 million shares worth approximately $367.3 million, or 1.96% of the company.
• Institutional ownership remains high at 94.02%, with several other investment firms increasing their positions during the reporting period.
• Analysts maintain a consensus “Hold” rating with a $153.78 price target, while Expeditors recently beat quarterly EPS estimates, reporting $1.71 versus the expected $1.33.

Bank of America Corp DE lessened its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 2.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,564,534 shares of the transportation company's stock after selling 77,176 shares during the quarter. Bank of America Corp DE owned about 1.96% of Expeditors International of Washington worth $367,318,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EXPD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Expeditors International of Washington by 4.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,168 shares of the transportation company's stock worth $1,944,000 after purchasing an additional 623 shares during the period. Jones Financial Companies Lllp raised its stake in Expeditors International of Washington by 75.4% during the 1st quarter. Jones Financial Companies Lllp now owns 2,324 shares of the transportation company's stock valued at $279,000 after purchasing an additional 999 shares during the period. Woodline Partners LP lifted its holdings in shares of Expeditors International of Washington by 40.7% in the first quarter. Woodline Partners LP now owns 11,826 shares of the transportation company's stock valued at $1,422,000 after purchasing an additional 3,420 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of Expeditors International of Washington by 33.9% in the first quarter. Focus Partners Wealth now owns 5,227 shares of the transportation company's stock valued at $628,000 after purchasing an additional 1,324 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Expeditors International of Washington by 29.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,113 shares of the transportation company's stock worth $127,000 after buying an additional 255 shares during the period. 94.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Susquehanna lifted their target price on Expeditors International of Washington from $142.00 to $156.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Barclays raised their price target on shares of Expeditors International of Washington from $135.00 to $150.00 and gave the stock an "underweight" rating in a report on Thursday, June 25th. Truist Financial boosted their price objective on shares of Expeditors International of Washington from $145.00 to $175.00 and gave the company a "hold" rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. upped their price objective on shares of Expeditors International of Washington from $135.00 to $139.00 and gave the company an "underweight" rating in a research note on Wednesday, May 6th. Finally, UBS Group increased their target price on shares of Expeditors International of Washington from $175.00 to $191.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Expeditors International of Washington has a consensus rating of "Hold" and a consensus price target of $153.78.

Expeditors International of Washington Stock Down 0.1%

NASDAQ:EXPD opened at $167.78 on Monday. Expeditors International of Washington, Inc. has a 12 month low of $110.48 and a 12 month high of $183.52. The firm has a market cap of $21.94 billion, a price-to-earnings ratio of 29.33, a P/E/G ratio of 5.00 and a beta of 1.04. The company's 50 day moving average is $166.66 and its 200-day moving average is $156.44.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The transportation company reported $1.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.33 by $0.38. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. Expeditors International of Washington's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.47 earnings per share. Research analysts predict 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 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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