First Eagle Investment Management LLC Acquires 32,063 Shares of Expeditors International of Washington, Inc. $EXPD

Key Points

• First Eagle Investment Management raised its stake in Expeditors International by 0.5% in the fourth quarter, buying 32,063 additional shares and bringing its total to 6.31 million shares worth about $940.6 million.
• Several other institutional investors also increased or initiated positions, and 94.02% of Expeditors’ stock is now held by institutions.
• Expeditors reported strong quarterly results, with EPS of $1.71 topping estimates of $1.33, while analysts currently rate the stock a consensus “Hold” with an average price target of $137.30.

First Eagle Investment Management LLC increased its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,312,305 shares of the transportation company's stock after buying an additional 32,063 shares during the period. Expeditors International of Washington accounts for about 1.7% of First Eagle Investment Management LLC's investment portfolio, making the stock its 21st biggest holding. First Eagle Investment Management LLC owned approximately 4.71% of Expeditors International of Washington worth $940,597,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of EXPD. Envestnet Asset Management Inc. increased its stake in Expeditors International of Washington by 6.7% in the third quarter. Envestnet Asset Management Inc. now owns 993,697 shares of the transportation company's stock valued at $121,817,000 after purchasing an additional 62,500 shares in the last quarter. Allianz Asset Management GmbH increased its stake in Expeditors International of Washington by 14.0% in the third quarter. Allianz Asset Management GmbH now owns 565,430 shares of the transportation company's stock valued at $69,316,000 after purchasing an additional 69,290 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in Expeditors International of Washington in the third quarter valued at approximately $1,041,000. Exchange Traded Concepts LLC increased 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 purchasing an additional 20,755 shares in the last quarter. Finally, Mediolanum International Funds Ltd bought a new stake in Expeditors International of Washington in the third quarter valued at approximately $464,000. 94.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on EXPD. Truist Financial lowered their target price on shares of Expeditors International of Washington from $160.00 to $140.00 and set a "hold" rating for the company in a research note on Wednesday, February 25th. UBS Group upped their target price on shares of Expeditors International of Washington from $166.00 to $175.00 and gave the company a "buy" rating in a research note on Friday. Barclays upped their target price on shares of Expeditors International of Washington from $110.00 to $135.00 and gave the company an "underweight" rating in a research note on Thursday, January 15th. JPMorgan Chase & Co. upped their target price 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, Wolfe Research raised shares of Expeditors International of Washington from a "strong sell" rating to a "hold" rating in a research note on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $137.30.

Expeditors International of Washington Stock Down 0.7%

Expeditors International of Washington stock opened at $155.64 on Tuesday. The stock has a market capitalization of $20.36 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 5.00 and a beta of 1.04. Expeditors International of Washington, Inc. has a twelve month low of $109.90 and a twelve month high of $167.19. The company has a 50 day moving average of $146.06 and a 200-day moving average of $147.44.

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 for the quarter, beating the consensus estimate 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 period in the previous year, the firm earned $1.47 earnings per share. Equities analysts anticipate that Expeditors International of Washington, Inc. will post 5.39 EPS for the current fiscal year.

Expeditors International of Washington Dividend Announcement

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

Expeditors International of Washington Company 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.

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