JPMorgan Chase & Co. Boosts Holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Posted by Defense World Staff on Nov 22nd, 2022

JPMorgan Chase & Co. lifted its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD – Get Rating) by 266.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,180,808 shares of the transportation company’s stock after purchasing an additional 858,185 shares during the period. JPMorgan Chase & Co. owned 0.70% of Expeditors International of Washington worth $115,083,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Valley National Advisers Inc. lifted its position in Expeditors International of Washington by 605.6% during the 2nd 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 period. Allworth Financial LP lifted its position in Expeditors International of Washington by 2,866.7% during the 2nd 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 period. Lindbrook Capital LLC lifted its position in Expeditors International of Washington by 78.0% during the 2nd 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 period. TCI Wealth Advisors Inc. lifted its position in Expeditors International of Washington by 3,625.0% during the 2nd 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 period. Finally, Venture Visionary Partners LLC purchased a new position in Expeditors International of Washington during the 2nd quarter valued at about $29,000. 89.56% of the stock is owned by hedge funds and other institutional investors.

Expeditors International of Washington Stock Up 0.7 %

Shares of EXPD stock opened at $113.55 on Tuesday. The company has a 50 day moving average price of $96.10 and a 200-day moving average price of $100.63. Expeditors International of Washington, Inc. has a 52 week low of $86.08 and a 52 week high of $137.80. The firm has a market capitalization of $18.07 billion, a PE ratio of 11.93 and a beta of 0.93.

Expeditors International of Washington (NASDAQ:EXPD – Get Rating) last announced its quarterly earnings results on Tuesday, November 8th. The transportation company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.63. Expeditors International of Washington had a net margin of 8.36% and a return on equity of 44.27%. The firm had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the business posted $2.09 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts anticipate that Expeditors International of Washington, Inc. will post 8.14 earnings per share for the current year.

Expeditors International of Washington Announces Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a dividend yield of 1.2%. Expeditors International of Washington’s dividend payout ratio is presently 14.08%.

Insider Transactions at Expeditors International of Washington

In related news, CFO Bradley S. Powell sold 17,206 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $106.23, for a total transaction of $1,827,793.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Eugene K. Alger sold 11,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $113.43, for a total transaction of $1,304,445.00. Following the completion of the sale, the insider now directly owns 17,879 shares in the company, valued at $2,028,014.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Bradley S. Powell sold 17,206 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $106.23, for a total transaction of $1,827,793.38. The disclosure for this sale can be found here. Insiders sold 29,692 shares of company stock worth $3,237,336 over the last three months. 0.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

EXPD has been the subject of a number of recent research reports. Morgan Stanley lowered their price target on shares of Expeditors International of Washington from $94.00 to $86.00 and set an “underweight” rating for the company in a research report on Monday, October 3rd. Cowen reduced their price objective on shares of Expeditors International of Washington to $122.00 in a research note on Tuesday, November 15th. Barclays reduced their price objective on shares of Expeditors International of Washington from $95.00 to $90.00 and set an “underweight” rating for the company in a research note on Thursday, October 13th. Susquehanna reduced their price objective on shares of Expeditors International of Washington from $110.00 to $95.00 in a research note on Wednesday, November 9th. Finally, Susquehanna Bancshares reduced their price objective on shares of Expeditors International of Washington from $110.00 to $95.00 in a research note on Wednesday, November 9th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, Expeditors International of Washington presently has an average rating of “Hold” and a consensus price target of $101.38.

Expeditors International of Washington Profile

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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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