Russell Investments Group Ltd. Trims Holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Posted by Defense World Staff on Oct 18th, 2022

Russell Investments Group Ltd. decreased its holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD – Get Rating) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 262,268 shares of the transportation company’s stock after selling 2,525 shares during the quarter. Russell Investments Group Ltd. owned about 0.16% of Expeditors International of Washington worth $25,615,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EXPD. Exchange Traded Concepts LLC raised its position in Expeditors International of Washington by 23.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 3,953 shares of the transportation company’s stock worth $408,000 after buying an additional 753 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Expeditors International of Washington by 0.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 317,538 shares of the transportation company’s stock worth $32,757,000 after buying an additional 1,131 shares during the last quarter. AE Wealth Management LLC raised its position in Expeditors International of Washington by 15.0% during the 1st quarter. AE Wealth Management LLC now owns 5,176 shares of the transportation company’s stock worth $534,000 after buying an additional 674 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in Expeditors International of Washington by 50.1% during the 1st quarter. Crossmark Global Holdings Inc. now owns 27,505 shares of the transportation company’s stock worth $2,838,000 after buying an additional 9,180 shares during the last quarter. Finally, Ieq Capital LLC increased its holdings in shares of Expeditors International of Washington by 133.7% in the 2nd quarter. Ieq Capital LLC now owns 7,377 shares of the transportation company’s stock valued at $719,000 after purchasing an additional 4,220 shares in the last quarter. Hedge funds and other institutional investors own 89.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EXPD. Wells Fargo & Company cut their price target on shares of 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. StockNews.com initiated coverage on shares of Expeditors International of Washington in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Barclays lowered their price objective on shares of Expeditors International of Washington from $95.00 to $90.00 and set an “underweight” rating on the stock in a research note on Thursday, October 13th. Wolfe Research cut shares of Expeditors International of Washington from a “peer perform” rating to an “underperform” rating in a research note on Tuesday, July 12th. Finally, Morgan Stanley lowered their price objective on shares of Expeditors International of Washington from $94.00 to $86.00 and set an “underweight” rating on the stock in a research note on Monday, October 3rd. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $106.75.

Expeditors International of Washington Price Performance

Expeditors International of Washington stock opened at $92.00 on Tuesday. Expeditors International of Washington, Inc. has a 12-month low of $86.08 and a 12-month high of $137.80. The stock has a market capitalization of $15.43 billion, a P/E ratio of 10.14 and a beta of 0.91. The firm’s 50-day moving average is $98.02 and its two-hundred day moving average is $100.37.

Expeditors International of Washington (NASDAQ:EXPD – Get Rating) last released its quarterly earnings results on Tuesday, August 2nd. The transportation company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.18. Expeditors International of Washington had a net margin of 8.09% and a return on equity of 42.95%. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same period last year, the company earned $1.84 EPS. The firm’s revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, analysts forecast that Expeditors International of Washington, Inc. will post 7.87 EPS for the current year.

Expeditors International of Washington Company 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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