Banque Pictet & Cie SA Has $1.44 Million Stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Posted by Defense World Staff on Nov 10th, 2022

Banque Pictet & Cie SA lowered its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD – Get Rating) by 12.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,807 shares of the transportation company’s stock after selling 2,091 shares during the quarter. Banque Pictet & Cie SA’s holdings in Expeditors International of Washington were worth $1,443,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of EXPD. Valley National Advisers Inc. increased its position in shares of Expeditors International of Washington by 605.6% in the second quarter. Valley National Advisers Inc. now owns 254 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 218 shares during the last quarter. Allworth Financial LP increased its position in shares of Expeditors International of Washington by 2,866.7% in the second quarter. Allworth Financial LP now owns 267 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 258 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Expeditors International of Washington by 78.0% in the second quarter. Lindbrook Capital LLC now owns 283 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 124 shares during the last quarter. TCI Wealth Advisors Inc. increased its position in shares of Expeditors International of Washington by 3,625.0% in the second quarter. TCI Wealth Advisors Inc. now owns 298 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 290 shares during the last quarter. Finally, Venture Visionary Partners LLC acquired a new stake in shares of Expeditors International of Washington in the second quarter valued at about $29,000. Institutional investors and hedge funds own 89.56% of the company’s stock.

Expeditors International of Washington Trading Up 0.4 %

Shares of EXPD stock opened at $104.78 on Thursday. The stock has a market cap of $17.58 billion, a P/E ratio of 11.51 and a beta of 0.93. The stock has a 50 day simple moving average of $94.49 and a 200 day simple moving average of $100.07. Expeditors International of Washington, Inc. has a 1 year low of $86.08 and a 1 year high of $137.80.

Expeditors International of Washington (NASDAQ:EXPD – Get Rating) last issued its quarterly earnings results on Tuesday, November 8th. The transportation company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.63. The business had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.21 billion. Expeditors International of Washington had a return on equity of 42.95% and a net margin of 8.09%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.09 earnings per share. Analysts forecast that Expeditors International of Washington, Inc. will post 7.87 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Susquehanna reduced their price target on Expeditors International of Washington from $110.00 to $95.00 in a report on Wednesday. StockNews.com assumed coverage on Expeditors International of Washington in a report on Wednesday, October 12th. They set a “hold” rating for the company. Wells Fargo & Company reduced their price target on Expeditors International of Washington from $101.00 to $97.00 and set an “equal weight” rating for the company in a report on Friday, July 15th. Morgan Stanley reduced their price target on Expeditors International of Washington from $94.00 to $86.00 and set an “underweight” rating for the company in a report on Monday, October 3rd. Finally, Barclays reduced their price objective on Expeditors International of Washington from $95.00 to $90.00 and set an “underweight” rating for the company in a report on Thursday, October 13th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, Expeditors International of Washington has an average rating of “Hold” and an average target price of $101.75.

About Expeditors International of Washington

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Expeditors International of Washington, Inc 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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