MAI Capital Management Purchases 1,788 Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Posted by MarketBeat News on Oct 28th, 2023

MAI Capital Management lifted its position in Expeditors International of Washington, Inc. (NASDAQ:EXPD – Free Report) by 48.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,499 shares of the transportation company’s stock after buying an additional 1,788 shares during the period. MAI Capital Management’s holdings in Expeditors International of Washington were worth $666,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in EXPD. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Expeditors International of Washington by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,667 shares of the transportation company’s stock valued at $2,338,000 after buying an additional 1,404 shares in the last quarter. Sei Investments Co. raised its stake in shares of Expeditors International of Washington by 6.7% in the 1st quarter. Sei Investments Co. now owns 133,626 shares of the transportation company’s stock valued at $13,801,000 after purchasing an additional 8,438 shares during the period. National Pension Service raised its stake in shares of Expeditors International of Washington by 4.9% in the 1st quarter. National Pension Service now owns 288,713 shares of the transportation company’s stock valued at $29,784,000 after purchasing an additional 13,608 shares during the period. Vanguard Group Inc. raised its stake in shares of Expeditors International of Washington by 1.0% in 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 purchasing an additional 190,319 shares during the period. Finally, Zions Bancorporation N.A. raised its stake in shares of Expeditors International of Washington by 234.3% in the 1st quarter. Zions Bancorporation N.A. now owns 575 shares of the transportation company’s stock valued at $59,000 after purchasing an additional 403 shares during the period. Institutional investors own 96.73% of the company’s stock.

Expeditors International of Washington Price Performance

Shares of NASDAQ EXPD opened at $107.75 on Friday. The stock has a market capitalization of $15.94 billion, a price-to-earnings ratio of 16.15 and a beta of 1.01. The business has a 50-day moving average of $115.30 and a 200-day moving average of $116.49. Expeditors International of Washington, Inc. has a fifty-two week low of $91.84 and a fifty-two week high of $128.04.

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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 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the previous year, the business posted $2.27 EPS. The company’s revenue for the quarter was down 51.3% on a year-over-year basis. On average, sell-side analysts expect that Expeditors International of Washington, Inc. will post 5.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Susquehanna lifted their price target on 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. Morgan Stanley dropped their price target on Expeditors International of Washington from $86.00 to $85.00 and set an “underweight” rating on the stock in a research note on Monday, October 2nd. JPMorgan Chase & Co. assumed coverage on Expeditors International of Washington in a research note on Friday, August 11th. They issued an “underweight” rating and a $110.00 price target on the stock. Stephens lifted their price target 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. Finally, Stifel Nicolaus lifted their price target on 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. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $106.09.

Check Out Our Latest Stock Analysis on EXPD

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.