Expeditors International of Washington, Inc. $EXPD Stock: Boston Trust Walden Corp Lowers Holdings

Key Points

• Boston Trust Walden cut its EXPD stake by 5.2% in the third quarter, selling 22,781 shares; it retained 419,354 shares worth about $77.4 million.
• Expeditors reported strong third-quarter results: EPS of $2.65 beat estimates of $2.22, while revenue rose 41.9% year over year to roughly $4.1 billion.
• Analyst views remain mixed: the stock has a consensus Hold rating and an average price target of $181.27, although UBS raised its target to $245 and maintained a Buy rating.

Boston Trust Walden Corp trimmed its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 5.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 419,354 shares of the transportation company's stock after selling 22,781 shares during the quarter. Boston Trust Walden Corp owned 0.32% of Expeditors International of Washington worth $77,430,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of EXPD. BlackRock Inc. acquired a new position in shares of Expeditors International of Washington in the second quarter worth about $2,193,093,000. State Street Corp grew 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 valued at $1,195,498,000 after purchasing an additional 109,798 shares in the last quarter. Bank of America Corp DE grew its stake 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 purchasing an additional 21,400 shares in the last quarter. Baird Financial Group Inc. grew its stake 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 purchasing an additional 57,823 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Expeditors International of Washington by 10.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,155,313 shares of the transportation company's stock worth $351,273,000 after purchasing an additional 195,351 shares during the last quarter. 94.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Stephens raised Expeditors International of Washington to a "strong-buy" rating in a research report on Wednesday, July 8th. Stifel Nicolaus raised their price target on shares of Expeditors International of Washington from $154.00 to $158.00 and gave the stock a "hold" rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. lifted their price target on shares of Expeditors International of Washington from $214.00 to $220.00 and gave the stock a "neutral" rating in a research note on Wednesday. Bank of America lifted their price target on shares of Expeditors International of Washington from $181.00 to $189.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Finally, UBS Group upped their price target on shares of Expeditors International of Washington from $220.00 to $245.00 and gave the company a "buy" rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Expeditors International of Washington currently has an average rating of "Hold" and a consensus target price of $181.27.

Expeditors International of Washington News Roundup

Here are the key news stories impacting Expeditors International of Washington this week:

• Positive Sentiment: Strong Q3 results: EPS rose 62% year over year to $2.65, beating the roughly $2.22 consensus, while revenue increased 42% to $4.1 billion. Higher airfreight tonnage, recovering ocean volumes and customs activity supported results. Expeditors Q3 results
• Positive Sentiment: UBS raised its target: UBS lifted its price target to $245 from $220 and reiterated a Buy rating, signaling substantial upside in its view. UBS price target update
• Positive Sentiment: Dividend declared: Expeditors announced a semi-annual cash dividend of $0.81 per share, payable December 15 to shareholders of record December 1. Dividend announcement
• Neutral Sentiment: Other analyst updates were mixed: JPMorgan raised its target to $220 but kept a Neutral rating; Truist raised its target to $200 and maintained Hold. JPMorgan target update
• Negative Sentiment: Bearish view remains: Barclays raised its target to $175 from $165 but kept an Underweight rating; that target remains below the stock’s recent level. Investors may also be weighing valuation after the strong results. Barclays rating

Expeditors International of Washington Stock Performance

Shares of EXPD stock opened at $197.09 on Thursday. Expeditors International of Washington, Inc. has a one year low of $129.59 and a one year high of $207.93. The company's 50-day simple moving average is $192.46 and its 200-day simple moving average is $167.63. The stock has a market capitalization of $25.62 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 5.00 and a beta of 1.07.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The transportation company reported $2.65 EPS for the quarter, topping analysts' consensus estimates of $2.22 by $0.43. Expeditors International of Washington had a return on equity of 36.16% and a net margin of 7.64%. The firm's revenue was up 41.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.64 earnings per share. As a group, research analysts forecast that Expeditors International of Washington, Inc. will post 5.39 EPS for the current year.

Expeditors International of Washington Dividend Announcement

The company also recently announced a dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.81 per share. This represents a yield of 79.0%. The ex-dividend date of this dividend is Tuesday, December 1st. Expeditors International of Washington's dividend payout ratio (DPR) is currently 23.58%.

About Expeditors International of Washington

Expeditors International of Washington, Inc is a global logistics company headquartered in Seattle, Washington. The company provides freight forwarding, transportation, customs brokerage and supply chain management services for businesses that move goods internationally.

Its services include airfreight and ocean-freight forwarding, customs clearance, warehousing and distribution, cargo insurance, order management, and other logistics solutions. Expeditors coordinates shipments through a worldwide network of offices and service providers, helping customers manage international trade requirements and supply chain operations.

Founded in 1979, Expeditors serves customers across North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.

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.