Simmons Bank Sells 700 Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Posted by MarketBeat News on Oct 29th, 2023

Simmons Bank trimmed its position in Expeditors International of Washington, Inc. (NASDAQ:EXPD – Free Report) by 12.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,710 shares of the transportation company’s stock after selling 700 shares during the period. Simmons Bank’s holdings in Expeditors International of Washington were worth $571,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in EXPD. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Expeditors International of Washington by 100,489.0% in the 2nd 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 in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Expeditors International of Washington by 548.0% during the first quarter. Envestnet Asset Management Inc. now owns 2,539,948 shares of the transportation company’s stock valued at $44,987,000 after purchasing an additional 2,147,954 shares in the last quarter. Norges Bank purchased a new position in shares of Expeditors International of Washington during the fourth quarter valued at approximately $133,106,000. Renaissance Technologies LLC boosted its position in shares of Expeditors International of Washington by 1,025.5% in the 1st quarter. Renaissance Technologies LLC now owns 990,616 shares of the transportation company’s stock worth $102,192,000 after purchasing an additional 902,600 shares in the last quarter. Finally, Select Equity Group L.P. grew its stake in shares of Expeditors International of Washington by 388.0% in the 4th quarter. Select Equity Group L.P. now owns 670,172 shares of the transportation company’s stock worth $69,644,000 after buying an additional 532,835 shares during the last quarter. Institutional investors own 96.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. StockNews.com initiated coverage on Expeditors International of Washington in a research note on Thursday, October 5th. They set a “hold” rating for the company. Susquehanna upped their price target 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. Stifel Nicolaus raised their price objective 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 boosted their price objective on shares of Expeditors International of Washington from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 9th. Finally, Morgan Stanley decreased their price target on Expeditors International of Washington from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, October 2nd. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $106.09.

Want More Great Investing Ideas?

Check Out Our Latest Stock Analysis on EXPD

Expeditors International of Washington Stock Down 0.7 %

NASDAQ EXPD opened at $107.75 on Friday. Expeditors International of Washington, Inc. has a twelve month low of $91.84 and a twelve month high of $128.04. The business has a 50-day moving average price of $115.30 and a 200-day moving average price of $116.54. The firm has a market cap of $15.94 billion, a price-to-earnings ratio of 16.15 and a beta of 1.01.

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