State Street Corp Increases Stock Holdings in Expeditors International of Washington, Inc. $EXPD

Key Points

• State Street increased its Expeditors International stake by 1.5% in the second quarter, adding 109,798 shares to own 7.34 million shares valued at approximately $1.20 billion. Institutional investors collectively hold 94.02% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $168.78; ratings range from Strong Buy to Sell.
• Expeditors reported quarterly EPS of $2.03, beating estimates of $1.69, while revenue increased 32.1% year over year. The stock opened at $187.60, near its 52-week high of $194.59.

State Street Corp increased its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,335,241 shares of the transportation company's stock after acquiring an additional 109,798 shares during the quarter. State Street Corp owned about 5.64% of Expeditors International of Washington worth $1,195,498,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of EXPD. SkyView Investment Advisors LLC purchased a new position in Expeditors International of Washington during the 2nd quarter worth approximately $163,000. Tidal Investments LLC grew its position in Expeditors International of Washington by 6.4% during the 2nd quarter. Tidal Investments LLC now owns 19,106 shares of the transportation company's stock worth $3,114,000 after purchasing an additional 1,148 shares during the last quarter. Engineers Gate Manager LP increased its stake in Expeditors International of Washington by 21.6% in the second quarter. Engineers Gate Manager LP now owns 46,565 shares of the transportation company's stock valued at $7,589,000 after purchasing an additional 8,283 shares during the period. RFG Advisory LLC increased its stake in Expeditors International of Washington by 3.5% in the second quarter. RFG Advisory LLC now owns 1,882 shares of the transportation company's stock valued at $307,000 after purchasing an additional 64 shares during the period. Finally, NewEdge Advisors LLC raised its holdings in shares of Expeditors International of Washington by 7.3% in the second quarter. NewEdge Advisors LLC now owns 5,996 shares of the transportation company's stock valued at $977,000 after buying an additional 410 shares during the last quarter. Institutional investors and hedge funds own 94.02% of the company's stock.

Analyst Upgrades and Downgrades

EXPD has been the topic of a number of research reports. Truist Financial raised 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. Stephens raised Expeditors International of Washington to a "strong-buy" rating in a report on Wednesday, July 8th. Citizens Jmp started 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. Barclays boosted their price objective on shares of Expeditors International of Washington from $150.00 to $160.00 and gave the company an "underweight" rating in a research note on Wednesday, August 5th. Finally, TD Cowen raised their target price on shares of Expeditors International of Washington from $148.00 to $176.00 and gave the stock a "sell" rating in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Expeditors International of Washington has a consensus rating of "Hold" and a consensus target price of $168.78.

Expeditors International of Washington Stock Performance

Expeditors International of Washington stock opened at $187.60 on Wednesday. Expeditors International of Washington, Inc. has a fifty-two week low of $112.94 and a fifty-two week high of $194.59. The stock has a fifty day moving average of $183.69 and a two-hundred day moving average of $164.56. The company has a market capitalization of $24.39 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 5.00 and a beta of 1.06.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The transportation company reported $2.03 EPS for the quarter, beating analysts' consensus estimates 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%.The company's quarterly revenue was up 32.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.34 EPS. On average, analysts forecast that Expeditors International of Washington, Inc. will post 5.39 EPS for the current fiscal year.

Expeditors International of Washington Profile

Expeditors International of Washington, Inc is a global logistics and supply chain management company headquartered in Seattle, Washington. The company provides transportation and related services that help businesses move goods through international and domestic supply chains.

Its primary services include airfreight and ocean-freight forwarding, customs brokerage, cargo consolidation, warehousing and distribution, order management, and other supply chain solutions. Expeditors also offers technology-enabled shipment visibility and logistics coordination designed to support customers' import, export, and distribution activities.

Founded in 1979, Expeditors serves a broad range of industries through a network of offices and facilities across North America, Latin America, Europe, the Middle East, Africa, and the Asia-Pacific region.

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