Northwest Bancshares Inc. Acquires 979 Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Posted by MarketBeat News on Oct 4th, 2023

Northwest Bancshares Inc. lifted its holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD – Free Report) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,365 shares of the transportation company’s stock after purchasing an additional 979 shares during the period. Expeditors International of Washington accounts for about 1.0% of Northwest Bancshares Inc.’s investment portfolio, making the stock its 28th biggest holding. Northwest Bancshares Inc.’s holdings in Expeditors International of Washington were worth $5,616,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of EXPD. Financial Gravity Asset Management Inc. acquired a new stake in shares of Expeditors International of Washington in the first quarter worth about $203,000. Graham Capital Wealth Management LLC acquired a new stake in Expeditors International of Washington in the 1st quarter worth approximately $237,859,000. First Horizon Advisors Inc. boosted its position in Expeditors International of Washington by 53.8% during the first quarter. First Horizon Advisors Inc. now owns 263 shares of the transportation company’s stock worth $29,000 after purchasing an additional 92 shares during the period. Clear Street Markets LLC grew its holdings in Expeditors International of Washington by 95.0% during the first quarter. Clear Street Markets LLC now owns 314 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 153 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Expeditors International of Washington by 103.6% in the first quarter. Covestor Ltd now owns 342 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 174 shares during the period. 96.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of 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. Stephens raised their price target 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. JPMorgan Chase & Co. started coverage on Expeditors International of Washington in a research report on Friday, August 11th. They set an “underweight” rating and a $110.00 price objective for the company. StockNews.com initiated coverage on Expeditors International of Washington in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Susquehanna upped their price target on Expeditors International of Washington from $104.00 to $115.00 and gave the stock a “neutral” rating in a report on Wednesday, August 9th. Four equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $106.09.

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Expeditors International of Washington Stock Performance

Shares of NASDAQ:EXPD traded down $0.05 during trading on Wednesday, hitting $113.86. 162,084 shares of the stock were exchanged, compared to its average volume of 1,196,770. The company has a market capitalization of $16.84 billion, a price-to-earnings ratio of 17.20 and a beta of 1.01. Expeditors International of Washington, Inc. has a 1-year low of $86.12 and a 1-year high of $128.04. The company’s fifty day simple moving average is $117.52 and its 200-day simple moving average is $115.53.

Expeditors International of Washington (NASDAQ:EXPD – Get Free Report) last issued its earnings results 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 firm 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%. The firm’s revenue for the quarter was down 51.3% compared to the same quarter last year. During the same period last year, the business earned $2.27 earnings per share. On average, research analysts forecast that Expeditors International of Washington, Inc. will post 5.36 earnings per share for the current fiscal year.

Expeditors International of Washington 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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