Tobam Boosts Position in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Posted by MarketBeat News on Oct 18th, 2023

Tobam lifted its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD – Free Report) by 24.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,456 shares of the transportation company’s stock after acquiring an additional 290 shares during the quarter. Tobam’s holdings in Expeditors International of Washington were worth $176,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in EXPD. Vanguard Group Inc. lifted its position in 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 acquiring an additional 190,319 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Expeditors International of Washington by 100,489.0% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,525,644 shares of the transportation company’s stock worth $427,061,000 after acquiring an additional 3,522,139 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of 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 acquiring an additional 488,561 shares in the last quarter. Boston Partners raised its position in shares of Expeditors International of Washington by 19.3% in the 1st quarter. Boston Partners now owns 3,044,844 shares of the transportation company’s stock worth $335,370,000 after purchasing an additional 491,704 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Expeditors International of Washington by 548.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,539,948 shares of the transportation company’s stock worth $44,987,000 after purchasing an additional 2,147,954 shares in the last quarter. 96.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. began coverage on shares of Expeditors International of Washington in a research note on Friday, August 11th. They issued an “underweight” rating and a $110.00 target price on the stock. Stephens increased their target price on Expeditors International of Washington from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 9th. StockNews.com started coverage on Expeditors International of Washington in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Morgan Stanley dropped their price objective on Expeditors International of Washington from $86.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday, October 2nd. Finally, Susquehanna boosted their target price on Expeditors International of Washington from $104.00 to $115.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 9th. Three 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.com, the stock currently has a consensus rating of “Hold” and an average target price of $106.09.

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Expeditors International of Washington Stock Up 1.2 %

Expeditors International of Washington stock opened at $120.41 on Wednesday. Expeditors International of Washington, Inc. has a 52-week low of $89.35 and a 52-week high of $128.04. The company has a market cap of $17.81 billion, a P/E ratio of 18.05 and a beta of 1.01. The business has a 50-day simple moving average of $115.88 and a two-hundred day simple moving average of $116.23.

Expeditors International of Washington (NASDAQ:EXPD – Get Free Report) last announced its earnings results on Tuesday, August 8th. The transportation company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.04). The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.65 billion. Expeditors International of Washington had a net margin of 8.36% and a return on equity of 34.31%. The business’s quarterly revenue was down 51.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.27 earnings per share. Research analysts anticipate that Expeditors International of Washington, Inc. will post 5.32 EPS 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.