Expeditors International of Washington, Inc. $EXPD Stock Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Expeditors International stake by 912% in the third quarter, adding 150,328 shares to own 166,811 shares valued at approximately $30.8 million.
• Institutional investors hold 94.02% of EXPD’s outstanding shares, with State Street remaining a major holder and several other funds increasing or initiating positions.
• Analysts maintain a consensus “Hold” rating with an average price target of $175.27, while EXPD recently traded at $195.68; the company also exceeded quarterly EPS estimates and reported 32.1% year-over-year revenue growth.

Assenagon Asset Management S.A. increased its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 912.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166,811 shares of the transportation company's stock after purchasing an additional 150,328 shares during the quarter. Assenagon Asset Management S.A. owned about 0.13% of Expeditors International of Washington worth $30,800,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of EXPD. Kentucky Retirement Systems raised its position in shares of Expeditors International of Washington by 97.2% during the first quarter. Kentucky Retirement Systems now owns 16,973 shares of the transportation company's stock worth $2,431,000 after purchasing an additional 8,367 shares during the period. State Street Corp increased its stake in Expeditors International of Washington by 1.5% during the 2nd quarter. State Street Corp now owns 7,335,241 shares of the transportation company's stock worth $1,195,498,000 after purchasing an additional 109,798 shares in the last quarter. Deutsche Bank AG acquired a new stake in Expeditors International of Washington during the 2nd quarter worth approximately $102,595,000. Midway Capital Research & Management acquired a new stake in Expeditors International of Washington during the 4th quarter worth approximately $2,432,000. Finally, Allianz Asset Management GmbH raised its holdings in shares of Expeditors International of Washington by 44.5% during the second quarter. Allianz Asset Management GmbH now owns 612,352 shares of the transportation company's stock worth $99,801,000 after acquiring an additional 188,581 shares during the period. Institutional investors and hedge funds own 94.02% of the company's stock.

Analysts Set New Price Targets

EXPD has been the subject of several analyst reports. Robert W. Baird raised their price objective on Expeditors International of Washington from $190.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, October 1st. Stifel Nicolaus upped their target price on Expeditors International of Washington from $154.00 to $158.00 and gave the stock a "hold" rating in a report on Wednesday, July 15th. Citizens Jmp started coverage on Expeditors International of Washington in a research report on Wednesday, July 15th. They set a "market perform" rating for the company. Barclays raised their price target on Expeditors International of Washington from $160.00 to $165.00 and gave the company an "underweight" rating in a research note on Tuesday, September 29th. Finally, JPMorgan Chase & Co. raised their price target on Expeditors International of Washington from $200.00 to $214.00 and gave the company a "neutral" rating in a research note on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $175.27.

Expeditors International of Washington Stock Performance

Shares of EXPD stock opened at $195.68 on Friday. The company has a market capitalization of $25.44 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 5.00 and a beta of 1.07. The company has a 50-day simple moving average of $189.23 and a 200 day simple moving average of $170.44. Expeditors International of Washington, Inc. has a 52 week low of $116.84 and a 52 week high of $200.66.

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 EPS 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 business's revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period last year, the company posted $1.34 EPS. Sell-side analysts forecast that Expeditors International of Washington, Inc. will post 5.39 EPS for the current year.

Expeditors International of Washington Profile

Expeditors International of Washington, Inc is a global logistics company that helps businesses move and manage goods across international supply chains. Its services include air and ocean freight forwarding, customs brokerage, cargo consolidation, warehousing, distribution, order management and other transportation-related solutions.

Founded in 1979 and headquartered in Seattle, Washington, Expeditors serves manufacturers, retailers, distributors and other customers through a worldwide network of offices and logistics facilities.

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