Portfolio Design Labs LLC Makes New Investment in Expeditors International of Washington, Inc. $EXPD

Key Points

• Portfolio Design Labs LLC acquired 7,296 shares of Expeditors International of Washington worth approximately $1.19 million in the second quarter. Institutional investors collectively own 94.02% of the company.
• Analyst sentiment remains mixed, with an average rating of “Hold” and an average price target of $168.78, despite several recent upgrades and target increases.
• Expeditors reported quarterly earnings of $2.03 per share, beating estimates of $1.69, while revenue increased 32.1% year over year. Shares opened at $186.65, near their 52-week high of $189.99.

Portfolio Design Labs LLC acquired a new position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,296 shares of the transportation company's stock, valued at approximately $1,189,000.

Several other hedge funds also recently modified their holdings of EXPD. Swedbank AB boosted its holdings in shares of Expeditors International of Washington by 153.5% in the 4th quarter. Swedbank AB now owns 29,678 shares of the transportation company's stock valued at $4,422,000 after buying an additional 17,969 shares during the last quarter. Arjuna Capital increased its holdings in Expeditors International of Washington by 37.0% during the fourth quarter. Arjuna Capital now owns 23,940 shares of the transportation company's stock worth $3,567,000 after buying an additional 6,471 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Expeditors International of Washington by 128.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,509 shares of the transportation company's stock worth $10,507,000 after acquiring an additional 39,658 shares in the last quarter. Forsta AP Fonden raised its position in Expeditors International of Washington by 81.4% during the fourth quarter. Forsta AP Fonden now owns 89,600 shares of the transportation company's stock worth $13,351,000 after acquiring an additional 40,200 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Expeditors International of Washington in the fourth quarter valued at $32,004,000. Institutional investors own 94.02% of the company's stock.

Wall Street Analysts Forecast Growth

EXPD has been the subject of a number of analyst reports. Stephens raised shares of Expeditors International of Washington to a "strong-buy" rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. upgraded shares of Expeditors International of Washington from an "underweight" rating to a "neutral" rating and set a $200.00 target price for the company in a research note on Wednesday, August 5th. Zacks Research upgraded Expeditors International of Washington from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Truist Financial boosted their price target on Expeditors International of Washington from $145.00 to $175.00 and gave the stock a "hold" rating in a research report on Wednesday, July 15th. Finally, Susquehanna upped their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $168.78.

Expeditors International of Washington Stock Performance

Shares of Expeditors International of Washington stock opened at $186.65 on Friday. The firm has a 50-day moving average of $172.59 and a 200-day moving average of $158.55. Expeditors International of Washington, Inc. has a 52-week low of $112.94 and a 52-week high of $189.99. The stock has a market cap of $24.26 billion, a PE ratio of 32.63, a PEG ratio of 5.00 and a beta of 1.04.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The transportation company reported $2.03 earnings per share 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 previous year, the business posted $1.34 earnings per share. The firm's quarterly revenue was up 32.1% compared to the same quarter last year. Equities research analysts predict that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current fiscal year.

Expeditors International of Washington Company 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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