NewEdge Advisors LLC Lowers Stock Position in Expeditors International of Washington, Inc. $EXPD

Key Points

• NewEdge Advisors cut its Expeditors International position by 49.5% in the first quarter, selling 5,483 shares and retaining 5,586 shares valued at approximately $800,000.
• Institutional investors own 94.02% of Expeditors’ stock, while several funds initiated or increased positions during the fourth quarter.
• Expeditors exceeded quarterly earnings expectations with EPS of $2.03 versus $1.69 forecast, while revenue rose 32.1% year over year. Analysts maintain an average “Hold” rating with a consensus price target of $168.78.

NewEdge Advisors LLC reduced its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 49.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,586 shares of the transportation company's stock after selling 5,483 shares during the period. NewEdge Advisors LLC's holdings in Expeditors International of Washington were worth $800,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Elyxium Wealth LLC purchased a new stake in Expeditors International of Washington in the 4th quarter valued at about $28,000. DV Equities LLC purchased a new position in shares of Expeditors International of Washington in the 4th quarter worth approximately $28,000. Nalls Sherbakoff Group LLC bought a new position in shares of Expeditors International of Washington in the fourth quarter valued at approximately $30,000. Bard Associates Inc. bought a new position in shares of Expeditors International of Washington in the fourth quarter valued at approximately $32,000. Finally, Geneos Wealth Management Inc. increased its position in shares of Expeditors International of Washington by 132.3% during the fourth quarter. Geneos Wealth Management Inc. now owns 230 shares of the transportation company's stock valued at $34,000 after acquiring an additional 131 shares during the last quarter. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. 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 report on Wednesday, July 15th. Stifel Nicolaus lifted 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. Barclays boosted their price target on shares of Expeditors International of Washington from $150.00 to $160.00 and gave the stock an "underweight" rating in a report on Wednesday, August 5th. Citizens Jmp assumed coverage on shares of Expeditors International of Washington in a research report on Wednesday, July 15th. They issued a "market perform" rating on the stock. Finally, UBS Group increased 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 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 issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $168.78.

Expeditors International of Washington Stock Up 0.2%

NASDAQ EXPD opened at $186.25 on Thursday. The firm has a market cap of $24.21 billion, a P/E ratio of 32.56, a price-to-earnings-growth ratio of 5.00 and a beta of 1.04. The company's 50 day moving average is $172.19 and its 200-day moving average is $158.37. Expeditors International of Washington, Inc. has a 12-month low of $112.94 and a 12-month 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 net margin of 7.64% and a return on equity of 36.16%. During the same period in the prior year, the firm posted $1.34 earnings per share. The business's revenue was up 32.1% compared to the same quarter last year. Equities 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source