ProShare Advisors LLC Reduces Holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Posted by MarketBeat News on Sep 13th, 2023

ProShare Advisors LLC cut its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD – Free Report) by 9.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,593,229 shares of the transportation company’s stock after selling 160,692 shares during the period. ProShare Advisors LLC owned 1.04% of Expeditors International of Washington worth $175,446,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of EXPD. Vanguard Group Inc. lifted its stake in shares of Expeditors International of Washington by 1.0% in 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 purchasing an additional 190,319 shares during the period. Bank of America Corp DE lifted its position in Expeditors International of Washington by 16.2% during the first quarter. Bank of America Corp DE now owns 3,500,552 shares of the transportation company’s stock valued at $385,481,000 after buying an additional 488,561 shares during the period. Boston Partners lifted its position in Expeditors International of Washington by 19.3% during the first quarter. Boston Partners now owns 3,044,844 shares of the transportation company’s stock valued at $335,370,000 after buying an additional 491,704 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Expeditors International of Washington by 548.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,539,948 shares of the transportation company’s stock valued at $44,987,000 after buying an additional 2,147,954 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Expeditors International of Washington by 0.3% in the 1st quarter. Northern Trust Corp now owns 2,486,514 shares of the transportation company’s stock worth $256,508,000 after buying an additional 6,839 shares during the period. 96.73% of the stock is owned by institutional investors.

Expeditors International of Washington Stock Performance

Shares of EXPD stock traded up $0.93 during mid-day trading on Wednesday, hitting $117.37. The company’s stock had a trading volume of 266,244 shares, compared to its average volume of 1,208,915. The stock has a market cap of $17.36 billion, a price-to-earnings ratio of 17.46 and a beta of 1.02. Expeditors International of Washington, Inc. has a 52-week low of $86.08 and a 52-week high of $128.04. The business has a 50-day moving average price of $119.60 and a 200 day moving average price of $114.70.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EXPD. Morgan Stanley lifted their price target on shares of Expeditors International of Washington from $84.00 to $86.00 and gave the company an “underweight” rating in a research report on Monday, August 14th. JPMorgan Chase & Co. started coverage on Expeditors International of Washington in a research report on Friday, August 11th. They issued an “underweight” rating and a $110.00 price target on the stock. Stephens raised their price objective on Expeditors International of Washington from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 9th. Stifel Nicolaus lifted their price objective on Expeditors International of Washington from $99.00 to $115.00 and gave the company a “hold” rating in a research note on Wednesday, July 19th. Finally, Susquehanna increased their target price on 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 analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $106.18.

Get Our Latest Stock Analysis on EXPD

About Expeditors International of Washington

(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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