Wellington Management Group LLP Lowers Stock Position in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Posted by MarketBeat News on Sep 2nd, 2023

Wellington Management Group LLP lessened its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD – Free Report) by 5.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,506,861 shares of the transportation company’s stock after selling 133,112 shares during the period. Wellington Management Group LLP’s holdings in Expeditors International of Washington were worth $276,056,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Expeditors International of Washington by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,667 shares of the transportation company’s stock worth $2,338,000 after acquiring an additional 1,404 shares during the last quarter. Sei Investments Co. lifted its stake in Expeditors International of Washington by 6.7% during the first quarter. Sei Investments Co. now owns 133,626 shares of the transportation company’s stock worth $13,801,000 after purchasing an additional 8,438 shares during the last quarter. National Pension Service boosted its holdings in shares of Expeditors International of Washington by 4.9% in the 1st quarter. National Pension Service now owns 288,713 shares of the transportation company’s stock worth $29,784,000 after purchasing an additional 13,608 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Expeditors International of Washington by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 19,675,632 shares of the transportation company’s stock valued at $2,029,739,000 after buying an additional 190,319 shares in the last quarter. Finally, Zions Bancorporation N.A. lifted its position in Expeditors International of Washington by 234.3% in the 1st quarter. Zions Bancorporation N.A. now owns 575 shares of the transportation company’s stock worth $59,000 after buying an additional 403 shares during the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Expeditors International of Washington Price Performance

EXPD stock opened at $116.37 on Friday. The firm has a 50-day moving average of $120.15 and a 200 day moving average of $114.34. The company has a market cap of $17.21 billion, a P/E ratio of 17.45 and a beta of 1.00. Expeditors International of Washington, Inc. has a 1 year low of $86.08 and a 1 year high of $128.04.

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Expeditors International of Washington (NASDAQ:EXPD – Get Free Report) last released its earnings results on Tuesday, August 8th. The transportation company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.04). Expeditors International of Washington had a net margin of 8.36% and a return on equity of 34.31%. The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the previous year, the business earned $2.27 EPS. The company’s revenue for the quarter was down 51.3% compared to the same quarter last year. On average, equities research analysts expect that Expeditors International of Washington, Inc. will post 5.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on EXPD. JPMorgan Chase & Co. began coverage on shares of Expeditors International of Washington in a research report on Friday, August 11th. They set an “underweight” rating and a $110.00 price target on the stock. StockNews.com started coverage on shares of Expeditors International of Washington in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Morgan Stanley lifted their price objective on Expeditors International of Washington from $84.00 to $86.00 and gave the stock an “underweight” rating in a report on Monday, August 14th. Stephens raised their price target on Expeditors International of Washington from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 9th. Finally, Susquehanna lifted their target price on shares of Expeditors International of Washington from $104.00 to $115.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. Four equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, Expeditors International of Washington presently has an average rating of “Hold” and a consensus target price of $106.18.

Check Out Our Latest Stock Report on Expeditors International of Washington

Expeditors International of Washington Company Profile

(Free Report)

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other supply chain solutions.

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