Hsbc Holdings PLC Lowers Position in Expeditors International of Washington, Inc. $EXPD

Key Points

• HSBC Holdings reduced its Expeditors International position by 1.2% in the second quarter, selling 9,853 shares and retaining 843,302 shares valued at approximately $137.4 million. Institutional investors collectively own 94.02% of the company.
• Analysts maintain a consensus “Hold” rating with an average price target of $168.78, despite target increases from several firms; ratings include two Strong Buys, two Buys, six Holds, and three Sells.
• Expeditors reported quarterly EPS of $2.03, exceeding the $1.69 estimate, while revenue rose 32.1% year over year. Shares opened at $188.90, near the company’s 52-week high of $189.99.

Hsbc Holdings PLC trimmed its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 843,302 shares of the transportation company's stock after selling 9,853 shares during the quarter. Hsbc Holdings PLC owned about 0.65% of Expeditors International of Washington worth $137,352,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Elyxium Wealth LLC bought a new stake in Expeditors International of Washington during the fourth quarter valued at approximately $28,000. DV Equities LLC bought a new position in shares of Expeditors International of Washington in the 4th quarter worth $28,000. Nalls Sherbakoff Group LLC purchased a new stake in shares of Expeditors International of Washington during the 4th quarter valued at $30,000. Bard Associates Inc. purchased a new stake in shares of Expeditors International of Washington during the 4th quarter valued at $32,000. Finally, Hara Capital LLC bought a new stake in shares of Expeditors International of Washington during the 2nd quarter worth $33,000. 94.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Susquehanna increased 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. Truist Financial lifted their price target on Expeditors International of Washington from $145.00 to $175.00 and gave the stock a "hold" rating in a research note on Wednesday, July 15th. Barclays increased their price objective on Expeditors International of Washington from $150.00 to $160.00 and gave the company an "underweight" rating in a research report on Wednesday, August 5th. UBS Group boosted their target price on Expeditors International of Washington from $191.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Finally, Citizens Jmp began coverage on shares of Expeditors International of Washington in a research report on Wednesday, July 15th. They set a "market perform" rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $168.78.

Expeditors International of Washington Price Performance

Shares of EXPD stock opened at $188.90 on Wednesday. The business has a 50-day moving average of $174.00 and a 200 day moving average of $159.07. Expeditors International of Washington, Inc. has a 1-year low of $112.94 and a 1-year high of $189.99. The stock has a market capitalization of $24.55 billion, a PE ratio of 33.02, a P/E/G ratio of 5.00 and a beta of 1.04.

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 EPS for the quarter, beating analysts' consensus estimates of $1.69 by $0.34. Expeditors International of Washington had a return on equity of 36.16% and a net margin of 7.64%.During the same quarter last year, the business posted $1.34 earnings per share. Expeditors International of Washington's quarterly revenue was up 32.1% on a year-over-year basis. Analysts anticipate that Expeditors International of Washington, Inc. will post 5.39 EPS for the current year.

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.

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.