Expeditors International of Washington, Inc. $EXPD Shares Sold by National Pension Service

Key Points

• National Pension Service cut its Expeditors International stake by 11.2% in the second quarter, selling 10,177 shares and retaining 80,564 shares valued at approximately $13.1 million.
• Institutional ownership remains high at 94.02%, with California State Teachers Retirement System and BlackRock making major additions during the period.
• Expeditors reported strong quarterly results, with EPS of $2.03 versus the $1.69 consensus and revenue up 32.1% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $168.78, below the reported $192.65 share price.

National Pension Service reduced its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 11.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 80,564 shares of the transportation company's stock after selling 10,177 shares during the quarter. National Pension Service owned 0.06% of Expeditors International of Washington worth $13,130,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in EXPD. California State Teachers Retirement System boosted its position in shares of Expeditors International of Washington by 12,384.8% during the second quarter. California State Teachers Retirement System now owns 40,489,447 shares of the transportation company's stock worth $6,598,970,000 after buying an additional 40,165,136 shares during the period. BlackRock Inc. purchased a new stake in shares of Expeditors International of Washington in the 2nd quarter valued at $2,193,093,000. State Street Corp lifted its stake in Expeditors International of Washington by 5.2% during the 3rd quarter. State Street Corp now owns 7,708,656 shares of the transportation company's stock worth $945,004,000 after acquiring an additional 377,703 shares in the last quarter. Bank of America Corp DE boosted its holdings in Expeditors International of Washington by 0.8% during the 2nd quarter. Bank of America Corp DE now owns 2,585,934 shares of the transportation company's stock valued at $421,456,000 after acquiring an additional 21,400 shares during the period. Finally, Baird Financial Group Inc. boosted its holdings in Expeditors International of Washington by 2.7% during the 2nd quarter. Baird Financial Group Inc. now owns 2,239,665 shares of the transportation company's stock valued at $365,021,000 after acquiring an additional 57,823 shares during the period. Institutional investors and hedge funds own 94.02% of the company's stock.

Wall Street Analyst Weigh In

EXPD has been the topic of a number of recent research reports. Barclays boosted their price target on shares of Expeditors International of Washington from $150.00 to $160.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 5th. TD Cowen raised their price target 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. Stephens raised Expeditors International of Washington to a "strong-buy" rating in a research report on Wednesday, July 8th. UBS Group increased their price objective on shares of Expeditors International of Washington from $191.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Finally, Truist Financial boosted 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 research note on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Expeditors International of Washington presently has a consensus rating of "Hold" and an average target price of $168.78.

Expeditors International of Washington Price Performance

NASDAQ EXPD opened at $192.65 on Friday. The firm's fifty day moving average price is $180.79 and its 200 day moving average price is $162.18. The company has a market capitalization of $25.04 billion, a price-to-earnings ratio of 33.68, 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 $193.15.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The transportation company reported $2.03 earnings per share 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%. The company's quarterly revenue was up 32.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.34 earnings per share. As a group, sell-side analysts forecast that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current 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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