Soltis Investment Advisors LLC Purchases 7,031 Shares of Expeditors International of Washington, Inc. $EXPD

Key Points

• Soltis Investment Advisors increased its Expeditors International position by 149.9% in the third quarter, purchasing 7,031 additional shares and bringing its holdings to 11,720 shares valued at approximately $2.16 million.
• Institutional ownership remains high at 94.02%, with major investors including BlackRock, State Street, Bank of America and UBS expanding or initiating positions.
• Expeditors recently exceeded earnings expectations, reporting $2.03 in quarterly EPS versus the $1.69 consensus, while revenue rose 32.1% year over year. Despite the strong results and shares trading near their 12-month high, analysts maintain a consensus “Hold” rating with a $175.27 target price.

Soltis Investment Advisors LLC lifted its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 149.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,720 shares of the transportation company's stock after purchasing an additional 7,031 shares during the period. Soltis Investment Advisors LLC's holdings in Expeditors International of Washington were worth $2,164,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in Expeditors International of Washington in the second quarter valued at $2,193,093,000. State Street Corp raised its stake in Expeditors International of Washington by 1.5% in the second quarter. State Street Corp now owns 7,335,241 shares of the transportation company's stock valued at $1,195,498,000 after buying an additional 109,798 shares in the last quarter. Bank of America Corp DE raised its stake in Expeditors International of Washington by 0.8% in the second quarter. Bank of America Corp DE now owns 2,585,934 shares of the transportation company's stock valued at $421,456,000 after buying an additional 21,400 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in Expeditors International of Washington by 2.7% during the 2nd quarter. Baird Financial Group Inc. now owns 2,239,665 shares of the transportation company's stock worth $365,021,000 after buying an additional 57,823 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Expeditors International of Washington by 10.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,155,313 shares of the transportation company's stock worth $351,273,000 after buying an additional 195,351 shares during the last quarter. 94.02% of the stock is owned by hedge funds and other institutional investors.

Expeditors International of Washington Price Performance

NASDAQ EXPD opened at $198.25 on Friday. The firm's fifty day moving average price is $191.72 and its 200 day moving average price is $167.05. The company has a market capitalization of $25.77 billion, a price-to-earnings ratio of 34.66, a price-to-earnings-growth ratio of 5.00 and a beta of 1.07. Expeditors International of Washington, Inc. has a 12 month low of $118.94 and a 12 month high of $200.66.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The transportation company reported $2.03 earnings per share 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%. During the same period in the previous year, the firm earned $1.34 earnings per share. The company's quarterly revenue was up 32.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EXPD. Stifel Nicolaus upped their price objective on Expeditors International of Washington from $154.00 to $158.00 and gave the stock a "hold" rating in a research report on Wednesday, July 15th. Citizens Jmp initiated coverage on Expeditors International of Washington in a research report on Wednesday, July 15th. They set a "market perform" rating on the stock. Bank of America boosted their target price on Expeditors International of Washington from $181.00 to $189.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. BNP Paribas Exane began coverage on Expeditors International of Washington in a research note on Wednesday, September 30th. They set a "neutral" rating and a $180.00 target price for the company. Finally, TD Cowen upped their price target on Expeditors International of Washington from $148.00 to $176.00 and gave the company a "sell" rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $175.27.

Expeditors International of Washington Company Profile

Expeditors International of Washington, Inc is a global logistics company headquartered in Seattle, Washington. The company provides freight forwarding, transportation, customs brokerage and supply chain management services for businesses that move goods internationally.

Its services include airfreight and ocean-freight forwarding, customs clearance, warehousing and distribution, cargo insurance, order management, and other logistics solutions. Expeditors coordinates shipments through a worldwide network of offices and service providers, helping customers manage international trade requirements and supply chain operations.

Founded in 1979, Expeditors serves customers across North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.

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