Picton Mahoney Asset Management Buys New Holdings in Expeditors International of Washington, Inc. $EXPD

Picton Mahoney Asset Management purchased a new position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 8,490 shares of the transportation company’s stock, valued at approximately $1,041,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allianz Asset Management GmbH boosted its position in Expeditors International of Washington by 14.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 565,430 shares of the transportation company’s stock valued at $69,316,000 after buying an additional 69,290 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Expeditors International of Washington by 6.7% during the third quarter. Envestnet Asset Management Inc. now owns 993,697 shares of the transportation company’s stock valued at $121,817,000 after acquiring an additional 62,500 shares during the last quarter. Ascent Group LLC boosted its holdings in shares of Expeditors International of Washington by 237.3% during the third quarter. Ascent Group LLC now owns 10,315 shares of the transportation company’s stock worth $1,265,000 after purchasing an additional 7,257 shares during the period. Mediolanum International Funds Ltd purchased a new stake in shares of Expeditors International of Washington during the third quarter worth about $464,000. Finally, Nordea Investment Management AB grew its stake in shares of Expeditors International of Washington by 7.4% in the third quarter. Nordea Investment Management AB now owns 648,101 shares of the transportation company’s stock worth $78,867,000 after purchasing an additional 44,849 shares during the last quarter. Institutional investors own 94.02% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on EXPD. Susquehanna dropped their price objective on Expeditors International of Washington from $160.00 to $142.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Bank of America upgraded Expeditors International of Washington from a “neutral” rating to a “buy” rating in a report on Friday, January 9th. Stifel Nicolaus lifted their price target on shares of Expeditors International of Washington from $130.00 to $136.00 and gave the company a “hold” rating in a report on Tuesday, December 16th. Morgan Stanley upped their price objective on shares of Expeditors International of Washington from $90.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, December 8th. Finally, Truist Financial cut their target price on shares of Expeditors International of Washington from $160.00 to $140.00 and set a “hold” rating on the stock in a research note on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $134.30.

Expeditors International of Washington Trading Down 0.2%

EXPD opened at $146.61 on Friday. The company has a market cap of $19.57 billion, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 5.00 and a beta of 1.15. The stock has a fifty day simple moving average of $155.06 and a two-hundred day simple moving average of $139.22. Expeditors International of Washington, Inc. has a 12-month low of $100.47 and a 12-month high of $167.19.

Expeditors International of Washington (NASDAQ:EXPD) last released its earnings results on Tuesday, February 24th. The transportation company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.68 EPS. On average, analysts predict that Expeditors International of Washington, Inc. will post 5.39 EPS for the current year.

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.