Man Group plc Invests $11.94 Million in Expeditors International of Washington, Inc. $EXPD

Key Points

• Man Group plc acquired 73,257 shares of Expeditors International of Washington in the second quarter, a stake valued at approximately $11.94 million and representing about 0.06% of the company.
• Institutional ownership remains substantial, with hedge funds and other institutions holding 94.02% of EXPD’s outstanding shares; major investors included BlackRock, UBS Asset Management, Southpoint Capital, Norges Bank and Balyasny Asset Management.
• Expeditors reported quarterly EPS of $2.03, beating estimates of $1.69, while revenue increased 32.1% year over year. Despite several upgrades, analysts’ consensus rating remains “Hold,” with an average price target of $168.78.

Man Group plc bought a new stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 73,257 shares of the transportation company's stock, valued at approximately $11,939,000. Man Group plc owned about 0.06% of Expeditors International of Washington at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. acquired a new stake in Expeditors International of Washington during the 2nd quarter valued at $2,193,093,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Expeditors International of Washington by 733.9% during 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 purchasing an additional 1,661,457 shares during the last quarter. Southpoint Capital Advisors LP bought a new stake in shares of Expeditors International of Washington during the fourth quarter worth $201,164,000. Norges Bank bought a new position in shares of Expeditors International of Washington in the fourth quarter valued at about $180,719,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Expeditors International of Washington in the third quarter valued at about $113,194,000. 94.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EXPD has been the topic of a number of research analyst reports. Stephens raised shares of Expeditors International of Washington to a "strong-buy" rating in a report on Wednesday, July 8th. Barclays boosted their target price on shares of 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. Susquehanna increased their price target on shares of 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 raised their price target on shares of Expeditors International of Washington from $145.00 to $175.00 and gave the company a "hold" rating in a report on Wednesday, July 15th. Finally, Zacks Research upgraded shares of Expeditors International of Washington from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $168.78.

Expeditors International of Washington Stock Up 0.2%

Expeditors International of Washington stock opened at $190.61 on Friday. The stock has a market cap of $24.78 billion, a price-to-earnings ratio of 33.32, a P/E/G ratio of 5.00 and a beta of 1.04. Expeditors International of Washington, Inc. has a 12-month low of $112.94 and a 12-month high of $191.79. The business's 50-day simple moving average is $175.18 and its 200 day simple moving average is $159.43.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last released its earnings results on Tuesday, August 4th. The transportation company reported $2.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarterly revenue was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.34 EPS. As a group, sell-side analysts expect 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.

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