First Eagle Investment Management LLC Reduces Holdings in Expeditors International of Washington, Inc. $EXPD

Key Points

• First Eagle Investment Management cut its Expeditors International stake by 66% in the second quarter, selling 3.92 million shares and retaining 2.02 million shares worth approximately $329.4 million. Institutional investors still own 94.02% of the company.
• Expeditors reported quarterly earnings of $2.03 per share, beating estimates of $1.69, while revenue increased 32.1% year over year. Analysts expect approximately $5.39 in full-year EPS.
• EXPD shares opened at $188.60, near their 52-week high of $192.28, but analysts maintain a consensus “Hold” rating with an average price target of $168.78.

First Eagle Investment Management LLC trimmed its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 66.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,020,988 shares of the transportation company's stock after selling 3,924,197 shares during the quarter. First Eagle Investment Management LLC owned approximately 1.55% of Expeditors International of Washington worth $329,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Nilsine Partners LLC boosted its stake in shares of Expeditors International of Washington by 1.9% during the second quarter. Nilsine Partners LLC now owns 4,036 shares of the transportation company's stock valued at $658,000 after purchasing an additional 77 shares during the period. Rossby Financial LCC increased its stake in shares of Expeditors International of Washington by 9.3% in the fourth quarter. Rossby Financial LCC now owns 938 shares of the transportation company's stock worth $140,000 after buying an additional 80 shares during the period. Claro Advisors Inc. increased its stake in shares of Expeditors International of Washington by 5.0% in the fourth quarter. Claro Advisors Inc. now owns 1,743 shares of the transportation company's stock worth $260,000 after buying an additional 83 shares during the period. Hardy Reed LLC raised its holdings in Expeditors International of Washington by 2.8% during the 4th quarter. Hardy Reed LLC now owns 3,513 shares of the transportation company's stock valued at $523,000 after buying an additional 95 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised its holdings in Expeditors International of Washington by 5.4% during the 4th quarter. Meeder Advisory Services Inc. now owns 1,874 shares of the transportation company's stock valued at $279,000 after buying an additional 96 shares during the last quarter. 94.02% of the stock is owned by hedge funds and other institutional investors.

Expeditors International of Washington Stock Down 0.1%

Shares of Expeditors International of Washington stock opened at $188.60 on Monday. The business has a 50 day moving average of $178.44 and a 200 day moving average of $160.92. Expeditors International of Washington, Inc. has a 52 week low of $112.94 and a 52 week high of $192.28. The company has a market cap of $24.52 billion, a PE ratio of 32.97, a P/E/G ratio of 5.00 and a beta of 1.06.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The transportation company reported $2.03 earnings per share for the quarter, beating the consensus estimate 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 revenue for the quarter was up 32.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.34 EPS. On average, research analysts anticipate that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Stephens raised shares of Expeditors International of Washington to a "strong-buy" rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. raised shares of Expeditors International of Washington from an "underweight" rating to a "neutral" rating and set a $200.00 price objective for the company in a research note on Wednesday, August 5th. Truist Financial increased 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 report on Wednesday, July 15th. Stifel Nicolaus raised their target price on Expeditors International of Washington from $154.00 to $158.00 and gave the stock a "hold" rating in a research note on Wednesday, July 15th. Finally, Barclays raised their target price on 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. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $168.78.

About Expeditors International of Washington

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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