Expeditors International of Washington, Inc. $EXPD Stake Boosted by Tredje AP fonden

Key Points

• Tredje AP fonden boosted its stake in Expeditors International of Washington by 281.4% in the fourth quarter, increasing its holdings to 12,579 shares worth about $1.87 million.
• Expeditors reported strong quarterly results, with EPS of $1.71 beating estimates by $0.38 and revenue rising 4.4% year over year. The company also posted a net margin of 7.64% and return on equity of 36.16%.
• Analysts remain mixed on the stock, with a consensus rating of Hold and an average price target of $137.30, even as some firms raised targets and UBS kept a Buy rating.

Tredje AP fonden increased its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 281.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,579 shares of the transportation company's stock after purchasing an additional 9,281 shares during the quarter. Tredje AP fonden's holdings in Expeditors International of Washington were worth $1,874,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its stake in Expeditors International of Washington by 6.7% during the third quarter. Envestnet Asset Management Inc. now owns 993,697 shares of the transportation company's stock worth $121,817,000 after purchasing an additional 62,500 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Expeditors International of Washington by 14.0% during the third quarter. Allianz Asset Management GmbH now owns 565,430 shares of the transportation company's stock worth $69,316,000 after purchasing an additional 69,290 shares during the last quarter. Picton Mahoney Asset Management bought a new stake in Expeditors International of Washington in the third quarter valued at $1,041,000. Exchange Traded Concepts LLC lifted its stake in Expeditors International of Washington by 40.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 72,528 shares of the transportation company's stock valued at $10,807,000 after buying an additional 20,755 shares during the last quarter. Finally, Clifford Swan Investment Counsel LLC lifted its stake in Expeditors International of Washington by 12.7% in the third quarter. Clifford Swan Investment Counsel LLC now owns 80,232 shares of the transportation company's stock valued at $9,836,000 after buying an additional 9,019 shares during the last quarter. 94.02% of the stock is currently owned by institutional investors.

Expeditors International of Washington Stock Up 0.6%

Shares of NASDAQ EXPD opened at $158.47 on Thursday. Expeditors International of Washington, Inc. has a fifty-two week low of $109.90 and a fifty-two week high of $167.19. The firm's 50-day simple moving average is $147.42 and its 200 day simple moving average is $149.28. The stock has a market cap of $20.73 billion, a P/E ratio of 27.70, a P/E/G ratio of 5.00 and a beta of 1.04.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The transportation company reported $1.71 earnings per share 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%. During the same quarter in the previous year, the company earned $1.47 EPS. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current fiscal year.

Expeditors International of Washington Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a dividend of $0.81 per share. This represents a dividend yield of 106.0%. The ex-dividend date is Monday, June 1st. Expeditors International of Washington's payout ratio is currently 26.21%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on EXPD. Truist Financial cut their target price on Expeditors International of Washington from $160.00 to $140.00 and set a "hold" rating on the stock in a research note on Wednesday, February 25th. Susquehanna raised 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. UBS Group raised their target price on Expeditors International of Washington from $166.00 to $175.00 and gave the company a "buy" rating in a research note on Friday, May 8th. JPMorgan Chase & Co. raised their target price on 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, Wolfe Research upgraded Expeditors International of Washington from a "strong sell" rating to a "hold" rating in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $137.30.

Expeditors International of Washington 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.

Want to see what other hedge funds are holding EXPD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.