Pictet Asset Management Holding SA Sells 6,134 Shares of Expeditors International of Washington, Inc. $EXPD

Pictet Asset Management Holding SA lowered its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 206,307 shares of the transportation company’s stock after selling 6,134 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Expeditors International of Washington were worth $30,744,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Allianz Asset Management GmbH grew its stake in shares of Expeditors International of Washington by 14.0% during the third quarter. Allianz Asset Management GmbH now owns 565,430 shares of the transportation company’s stock valued at $69,316,000 after purchasing an additional 69,290 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Expeditors International of Washington by 6.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 993,697 shares of the transportation company’s stock worth $121,817,000 after purchasing an additional 62,500 shares during the last quarter. Picton Mahoney Asset Management bought a new position in Expeditors International of Washington in the 3rd quarter worth approximately $1,041,000. Exchange Traded Concepts LLC lifted its holdings in Expeditors International of Washington by 40.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 72,528 shares of the transportation company’s stock worth $10,807,000 after buying an additional 20,755 shares in the last quarter. Finally, Ascent Group LLC boosted its position in Expeditors International of Washington by 237.3% in the 3rd quarter. Ascent Group LLC now owns 10,315 shares of the transportation company’s stock valued at $1,265,000 after buying an additional 7,257 shares during the last quarter. 94.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EXPD. Truist Financial dropped their target price on Expeditors International of Washington from $160.00 to $140.00 and set a “hold” rating for the company in a research report on Wednesday, February 25th. Zacks Research cut Expeditors International of Washington from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 14th. Barclays upped their target price on shares of Expeditors International of Washington from $110.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, January 15th. Bank of America raised shares of Expeditors International of Washington from a “neutral” rating to a “buy” rating in a research note on Friday, January 9th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Expeditors International of Washington from $134.00 to $132.00 and set an “underweight” rating for the company in a research note on Monday, January 12th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $134.30.

Expeditors International of Washington Trading Up 1.0%

NASDAQ EXPD opened at $148.84 on Thursday. The stock has a 50-day simple moving average of $145.37 and a 200 day simple moving average of $145.80. The company has a market capitalization of $19.79 billion, a PE ratio of 26.02, a P/E/G ratio of 5.00 and a beta of 1.09. Expeditors International of Washington, Inc. has a 12 month low of $106.00 and a 12 month high of $167.19.

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

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.