BI Asset Management Fondsmaeglerselskab A S Sells 49,291 Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Posted by MarketBeat News on Aug 30th, 2023

BI Asset Management Fondsmaeglerselskab A S trimmed its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD – Free Report) by 29.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 120,531 shares of the transportation company’s stock after selling 49,291 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned 0.08% of Expeditors International of Washington worth $13,273,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Raleigh Capital Management Inc. increased its holdings in shares of Expeditors International of Washington by 200.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 252 shares of the transportation company’s stock worth $26,000 after purchasing an additional 168 shares during the last quarter. New Hampshire Trust bought a new stake in Expeditors International of Washington in the 4th quarter worth approximately $26,000. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Expeditors International of Washington during the 4th quarter worth approximately $33,000. Covestor Ltd boosted its position in shares of Expeditors International of Washington by 103.6% during the 1st quarter. Covestor Ltd now owns 342 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 174 shares during the last quarter. Finally, Bbjs Financial Advisors LLC purchased a new position in shares of Expeditors International of Washington in the fourth quarter valued at $46,000. 96.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Expeditors International of Washington news, CEO Jeffrey S. Musser sold 30,041 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $111.30, for a total transaction of $3,343,563.30. Following the transaction, the chief executive officer now owns 116,587 shares in the company, valued at approximately $12,976,133.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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EXPD has been the topic of a number of recent research reports. Susquehanna upped their price target on shares of Expeditors International of Washington from $104.00 to $115.00 and gave the company a “neutral” rating in a research note on Wednesday, August 9th. Stifel Nicolaus lifted their price target on Expeditors International of Washington from $99.00 to $115.00 and gave the stock a “hold” rating in a research report on Wednesday, July 19th. Stephens boosted their price objective on Expeditors International of Washington from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 9th. Barclays lifted their price objective on shares of Expeditors International of Washington from $90.00 to $95.00 in a research note on Wednesday, May 3rd. Finally, JPMorgan Chase & Co. initiated 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. Four analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, Expeditors International of Washington has an average rating of “Hold” and a consensus price target of $106.18.

View Our Latest Stock Analysis on EXPD

Expeditors International of Washington Trading Up 0.8 %

Shares of EXPD traded up $0.98 during mid-day trading on Wednesday, hitting $118.04. The company’s stock had a trading volume of 419,327 shares, compared to its average volume of 1,215,054. The firm has a market capitalization of $17.46 billion, a price-to-earnings ratio of 17.70 and a beta of 1.00. The company’s 50-day moving average is $120.03 and its 200-day moving average is $114.27. Expeditors International of Washington, Inc. has a 52-week low of $86.08 and a 52-week high of $128.04.

Expeditors International of Washington (NASDAQ:EXPD – Get Free Report) last posted its earnings results on Tuesday, August 8th. The transportation company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.04). Expeditors International of Washington had a net margin of 8.36% and a return on equity of 34.31%. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the previous year, the company earned $2.27 EPS. The company’s revenue was down 51.3% on a year-over-year basis. As a group, sell-side analysts predict that Expeditors International of Washington, Inc. will post 5.36 earnings per share for the current fiscal year.

Expeditors International of Washington Company 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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