Confluence Investment Management LLC Sells 21,438 Shares of Expeditors International of Washington, Inc. $EXPD

Confluence Investment Management LLC lowered its holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 14.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 126,831 shares of the transportation company’s stock after selling 21,438 shares during the period. Confluence Investment Management LLC owned about 0.10% of Expeditors International of Washington worth $23,418,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of EXPD. BlackRock Inc. purchased a new position in shares of Expeditors International of Washington during the 2nd quarter valued at approximately $2,193,093,000. Norges Bank acquired a new stake in Expeditors International of Washington in the fourth quarter valued at $180,719,000. Caisse de depot et placement du Quebec bought a new stake in shares of Expeditors International of Washington in the 2nd quarter worth about $169,665,000. Legal & General Group Plc acquired a new stake in shares of Expeditors International of Washington in the 2nd quarter valued at about $125,395,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Expeditors International of Washington during the second quarter worth about $108,099,000. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

Expeditors International of Washington Stock Up 1.2%

Shares of NASDAQ:EXPD traded up $2.25 during trading on Thursday, hitting $186.89. 339,600 shares of the company traded hands, compared to its average volume of 1,268,408. The stock has a market capitalization of $24.29 billion, a price-to-earnings ratio of 32.65, a PEG ratio of 5.00 and a beta of 1.06. The business’s fifty day moving average is $184.59 and its 200-day moving average is $166.38. Expeditors International of Washington, Inc. has a one year low of $112.94 and a one year high of $194.59.

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 the consensus estimate of $1.69 by $0.34. Expeditors International of Washington had a return on equity of 36.16% and a net margin of 7.64%.The company’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.34 EPS. On average, analysts forecast that Expeditors International of Washington, Inc. will post 5.39 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on EXPD shares. Barclays lifted their price target on Expeditors International of Washington from $160.00 to $165.00 and gave the stock an “underweight” rating in a research note on Tuesday. Stephens upgraded Expeditors International of Washington to a “strong-buy” rating in a report on Wednesday, July 8th. Truist Financial upped their price target on Expeditors International of Washington from $145.00 to $175.00 and gave the company a “hold” rating in a research report on Wednesday, July 15th. Stifel Nicolaus raised their price objective on Expeditors International of Washington from $154.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday, July 15th. Finally, BNP Paribas Exane began coverage on shares of Expeditors International of Washington in a report on Wednesday. They issued a “neutral” rating and a $180.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Expeditors International of Washington presently has a consensus rating of “Hold” and an average price target of $173.09.

Expeditors International of Washington Profile

Expeditors International of Washington, Inc is a global logistics company that helps businesses move and manage goods across international supply chains. Its services include air and ocean freight forwarding, customs brokerage, cargo consolidation, warehousing, distribution, order management and other transportation-related solutions.

Founded in 1979 and headquartered in Seattle, Washington, Expeditors serves manufacturers, retailers, distributors and other customers through a worldwide network of offices and logistics facilities.