Madison Asset Management LLC Takes Position in Expeditors International of Washington, Inc. $EXPD

Key Points

• Madison Asset Management acquired 448,305 shares of Expeditors International of Washington in the second quarter, valued at approximately $73.1 million and representing about 0.34% of the company.
• Institutional ownership remains high at 94.02%, with major investors including BlackRock, State Street, Wellington Management and UBS increasing or initiating positions.
• Expeditors reported quarterly EPS of $2.03, beating estimates by $0.34, while revenue increased 32.1% year over year. Despite a $186.25 share price, analysts’ consensus rating is “Hold” with a $168.78 target price.

Madison Asset Management LLC bought a new position in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 448,305 shares of the transportation company's stock, valued at approximately $73,065,000. Madison Asset Management LLC owned about 0.34% of Expeditors International of Washington at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Expeditors International of Washington in the 2nd quarter worth about $2,193,093,000. State Street Corp boosted its position in shares of Expeditors International of Washington by 5.2% during the third quarter. State Street Corp now owns 7,708,656 shares of the transportation company's stock valued at $945,004,000 after buying an additional 377,703 shares during the period. First Eagle Investment Management LLC boosted its position in shares of Expeditors International of Washington by 0.5% during the fourth quarter. First Eagle Investment Management LLC now owns 6,312,305 shares of the transportation company's stock valued at $940,597,000 after buying an additional 32,063 shares during the period. Wellington Management Group LLP grew its stake in shares of Expeditors International of Washington by 64.1% during the third quarter. Wellington Management Group LLP now owns 1,920,927 shares of the transportation company's stock valued at $235,486,000 after buying an additional 749,993 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Expeditors International of Washington by 733.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,887,853 shares of the transportation company's stock worth $231,432,000 after buying an additional 1,661,457 shares during the period. 94.02% of the stock is owned by hedge funds and other institutional investors.

Expeditors International of Washington Stock Performance

Shares of NASDAQ EXPD opened at $186.25 on Thursday. The firm has a market capitalization of $24.21 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 5.00 and a beta of 1.04. The stock has a 50 day moving average price of $172.19 and a 200 day moving average price of $158.37. Expeditors International of Washington, Inc. has a 52-week low of $112.94 and a 52-week high of $189.99.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The transportation company reported $2.03 EPS for the quarter, topping the consensus estimate 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%.Expeditors International of Washington's revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.34 EPS. Analysts forecast that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Citizens Jmp assumed coverage on Expeditors International of Washington in a report on Wednesday, July 15th. They set a "market perform" rating for the company. Truist Financial increased their target price 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. Zacks Research upgraded Expeditors International of Washington from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. UBS Group boosted their target price on shares of Expeditors International of Washington from $191.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Finally, TD Cowen upped their price target on shares of Expeditors International of Washington from $148.00 to $176.00 and gave the stock a "sell" rating in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $168.78.

Expeditors International of Washington 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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