Posted by admin on Aug 22nd, 2022 
Northwestern Mutual Wealth Management Co. trimmed its position in Expeditors International of Washington, Inc. (NASDAQ:EXPD – Get Rating) by 12.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 4,193 shares of the transportation company’s stock after selling 583 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Expeditors International of Washington were worth $433,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Burney Co. purchased a new position in shares of Expeditors International of Washington in the first quarter worth $966,000. Bank of Nova Scotia boosted its holdings in Expeditors International of Washington by 32.0% in the first quarter. Bank of Nova Scotia now owns 138,580 shares of the transportation company’s stock valued at $14,296,000 after acquiring an additional 33,609 shares in the last quarter. Commerce Bank boosted its holdings in Expeditors International of Washington by 10.3% in the first quarter. Commerce Bank now owns 28,226 shares of the transportation company’s stock valued at $2,911,000 after acquiring an additional 2,628 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Expeditors International of Washington by 4.1% in the first quarter. Principal Financial Group Inc. now owns 1,711,829 shares of the transportation company’s stock valued at $176,592,000 after acquiring an additional 67,672 shares in the last quarter. Finally, Prentiss Smith & Co. Inc. boosted its holdings in Expeditors International of Washington by 10.0% in the first quarter. Prentiss Smith & Co. Inc. now owns 26,590 shares of the transportation company’s stock valued at $2,743,000 after acquiring an additional 2,416 shares in the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.
Shares of EXPD stock opened at $107.19 on Monday. Expeditors International of Washington, Inc. has a 1 year low of $92.58 and a 1 year high of $137.80. The firm has a fifty day moving average price of $100.43 and a 200-day moving average price of $102.81. The company has a market cap of $17.98 billion, a price-to-earnings ratio of 11.82 and a beta of 0.88.
Expeditors International of Washington (NASDAQ:EXPD – Get Rating) last released its earnings results on Tuesday, August 2nd. The transportation company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.14. 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 quarter in the previous year, the company earned $1.84 EPS. Expeditors International of Washington’s revenue for the quarter was up 27.5% on a year-over-year basis. Equities research analysts expect that Expeditors International of Washington, Inc. will post 7.88 EPS for the current year.
EXPD has been the topic of several recent analyst reports. StockNews.com upgraded shares of Expeditors International of Washington from a “hold” rating to a “buy” rating in a report on Friday. Cowen boosted their price objective on shares of Expeditors International of Washington from $111.00 to $125.00 in a research note on Thursday, May 5th. Cowen lifted their target price on shares of Expeditors International of Washington from $111.00 to $125.00 in a report on Thursday, May 5th. Wolfe Research downgraded shares of Expeditors International of Washington from a “peer perform” rating to an “underperform” rating in a research report on Tuesday, July 12th. Finally, Wells Fargo & Company cut their target price on shares of Expeditors International of Washington from $101.00 to $97.00 and set an “equal weight” rating for the company in a research report on Friday, July 15th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $108.38.
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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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