Wedbush Securities Inc. Lowers Stake in Expeditors International of Washington, Inc. $EXPD

Key Points

• Wedbush Securities cut its Expeditors stake by 61% in the second quarter, leaving it with 8,270 shares valued at approximately $1.35 million. Institutional investors and hedge funds collectively own 94.02% of the company.
• Expeditors reported quarterly EPS of $2.03, beating consensus estimates of $1.69, while revenue increased 32.1% year over year. Analysts project full-year EPS of $5.39.
• The stock opened at $189.74, near its 52-week high of $192.28, but analyst sentiment remains mixed: the consensus rating is “Hold” with an average price target of $168.78.

Wedbush Securities Inc. cut its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 61.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,270 shares of the transportation company's stock after selling 12,917 shares during the period. Wedbush Securities Inc.'s holdings in Expeditors International of Washington were worth $1,348,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Swedbank AB lifted its stake in 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 in the last quarter. Arjuna Capital raised its holdings in shares of Expeditors International of Washington by 37.0% during the fourth quarter. Arjuna Capital now owns 23,940 shares of the transportation company's stock valued at $3,567,000 after acquiring an additional 6,471 shares during the last quarter. Forsta AP Fonden raised its holdings in shares of 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 valued at $13,351,000 after acquiring an additional 40,200 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in shares of Expeditors International of Washington in the fourth quarter valued at approximately $32,004,000. Finally, Kentucky Retirement Systems boosted its stake in shares of Expeditors International of Washington by 97.2% in the first quarter. Kentucky Retirement Systems now owns 16,973 shares of the transportation company's stock worth $2,431,000 after acquiring an additional 8,367 shares during the last quarter. Institutional investors and hedge funds own 94.02% of the company's stock.

Expeditors International of Washington Stock Performance

NASDAQ:EXPD opened at $189.74 on Tuesday. Expeditors International of Washington, Inc. has a one year low of $112.94 and a one year high of $192.28. The stock has a market cap of $24.66 billion, a PE ratio of 33.17, a P/E/G ratio of 5.00 and a beta of 1.04. The stock has a 50 day moving average price of $176.30 and a 200 day moving average price of $159.83.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The transportation company reported $2.03 EPS for the quarter, topping 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 business's revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.34 EPS. As a group, analysts predict that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EXPD has been the subject of several research reports. TD Cowen boosted their price target on Expeditors International of Washington from $148.00 to $176.00 and gave the stock a "sell" rating in a research report on Wednesday, August 5th. Susquehanna raised their price objective on Expeditors International of Washington from $142.00 to $156.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Stephens raised shares of Expeditors International of Washington to a "strong-buy" rating in a report on Wednesday, July 8th. Bank of America increased their target price on shares of Expeditors International of Washington from $181.00 to $189.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Finally, Truist Financial raised their price target on shares of Expeditors International of Washington from $145.00 to $175.00 and gave the stock a "hold" rating in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $168.78.

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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