The Manufacturers Life Insurance Company Cuts Stake in Expeditors International of Washington, Inc. $EXPD

The Manufacturers Life Insurance Company cut its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 7.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,213 shares of the transportation company’s stock after selling 6,006 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of Expeditors International of Washington worth $11,059,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EXPD. Brendel Financial Advisors LLC acquired a new position in shares of Expeditors International of Washington during the fourth quarter worth about $4,213,000. Arjuna Capital raised its holdings in Expeditors International of Washington by 37.0% in the fourth quarter. Arjuna Capital now owns 23,940 shares of the transportation company’s stock valued at $3,567,000 after acquiring an additional 6,471 shares in the last quarter. Swedbank AB raised its holdings in Expeditors International of Washington by 153.5% in the fourth quarter. Swedbank AB now owns 29,678 shares of the transportation company’s stock valued at $4,422,000 after acquiring an additional 17,969 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Expeditors International of Washington by 128.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,509 shares of the transportation company’s stock worth $10,507,000 after acquiring an additional 39,658 shares during the last quarter. Finally, Forsta AP Fonden increased its position in shares of Expeditors International of Washington by 81.4% in the 4th quarter. Forsta AP Fonden now owns 89,600 shares of the transportation company’s stock valued at $13,351,000 after purchasing an additional 40,200 shares during the last quarter. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Expeditors International of Washington Price Performance

NASDAQ EXPD opened at $170.28 on Tuesday. The firm’s fifty day moving average price is $166.90 and its 200 day moving average price is $156.51. Expeditors International of Washington, Inc. has a 12 month low of $112.94 and a 12 month high of $183.52. The company has a market capitalization of $22.27 billion, a price-to-earnings ratio of 29.77, a price-to-earnings-growth ratio of 5.00 and a beta of 1.04.

Expeditors International of Washington (NASDAQ:EXPD) last announced its quarterly earnings results on Tuesday, May 5th. The transportation company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.38. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. During the same period in the previous year, the firm earned $1.47 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on EXPD shares. JPMorgan Chase & Co. boosted their target price on shares of Expeditors International of Washington from $135.00 to $139.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 6th. Truist Financial lifted their price target on Expeditors International of Washington from $145.00 to $175.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. Bank of America upped their price objective on Expeditors International of Washington from $181.00 to $189.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Zacks Research upgraded Expeditors International of Washington from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Finally, Stifel Nicolaus raised their target price on Expeditors International of Washington from $154.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $153.78.

Expeditors International of Washington Profile

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.