Madison Asset Management LLC Invests $73.06 Million in Expeditors International of Washington, Inc. $EXPD

Madison Asset Management LLC acquired a new stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) during the second quarter, HoldingsChannel reports. The fund acquired 448,305 shares of the transportation company’s stock, valued at approximately $73,065,000.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Expeditors International of Washington in the second quarter worth approximately $2,193,093,000. State Street Corp boosted its position in Expeditors International of Washington by 5.2% during the 3rd quarter. State Street Corp now owns 7,708,656 shares of the transportation company’s stock valued at $945,004,000 after acquiring an additional 377,703 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Expeditors International of Washington by 0.5% in the 4th quarter. First Eagle Investment Management LLC now owns 6,312,305 shares of the transportation company’s stock valued at $940,597,000 after acquiring an additional 32,063 shares during the period. Wellington Management Group LLP increased its holdings in shares of Expeditors International of Washington by 64.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,920,927 shares of the transportation company’s stock valued at $235,486,000 after acquiring an additional 749,993 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Expeditors International of Washington by 733.9% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,887,853 shares of the transportation company’s stock worth $231,432,000 after acquiring an additional 1,661,457 shares in the last quarter. 94.02% of the stock is owned by hedge funds and other institutional investors.

Expeditors International of Washington Price Performance

Shares of Expeditors International of Washington stock opened at $186.25 on Thursday. The stock has a market cap of $24.21 billion, a PE ratio of 32.56, a price-to-earnings-growth ratio of 5.00 and a beta of 1.04. The firm has a fifty day moving average price of $172.19 and a 200 day moving average price of $158.37. Expeditors International of Washington, Inc. has a 1 year low of $112.94 and a 1 year high of $189.99.

Expeditors International of Washington (NASDAQ:EXPD) last announced its quarterly earnings results on Tuesday, August 4th. The transportation company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.34. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. During the same quarter in the prior year, the firm earned $1.34 EPS. Expeditors International of Washington’s revenue was up 32.1% on a year-over-year basis. As a group, equities analysts expect that Expeditors International of Washington, Inc. will post 5.39 EPS for the current year.

Analyst Upgrades and Downgrades

EXPD has been the subject of a number of analyst reports. Zacks Research upgraded Expeditors International of Washington from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Stifel Nicolaus boosted their target price on shares of Expeditors International of Washington from $154.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. Bank of America increased their price target on shares of Expeditors International of Washington from $181.00 to $189.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Barclays raised their price target on shares of Expeditors International of Washington from $150.00 to $160.00 and gave the company an “underweight” rating in a report on Wednesday, August 5th. Finally, Truist Financial boosted their price objective on shares of Expeditors International of Washington from $145.00 to $175.00 and gave the stock a “hold” rating in a research note on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Expeditors International of Washington currently has an average rating of “Hold” and an average price target of $168.78.

About Expeditors International of Washington

Expeditors International of Washington is a global logistics and freight forwarding company headquartered in Seattle, Washington. The firm specializes in providing tailored supply chain solutions that encompass air, ocean and ground transportation. Through an integrated service model, Expeditors coordinates and manages the movement of goods for a diverse customer base, including manufacturers, retailers and technology companies.

The company’s core offerings include customs brokerage, cargo insurance, distribution and warehousing services, as well as vendor consolidation and inventory management.