Wedbush Securities Inc. Trims Stock Position in Expeditors International of Washington, Inc. $EXPD

Wedbush Securities Inc. trimmed its position in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 61.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,270 shares of the transportation company’s stock after selling 12,917 shares during the quarter. Wedbush Securities Inc.’s holdings in Expeditors International of Washington were worth $1,348,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in EXPD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Expeditors International of Washington by 10.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,155,313 shares of the transportation company’s stock worth $351,273,000 after buying an additional 195,351 shares during the last quarter. New Mexico Educational Retirement Board lifted its holdings in Expeditors International of Washington by 8.0% in the second quarter. New Mexico Educational Retirement Board now owns 6,750 shares of the transportation company’s stock valued at $1,100,000 after acquiring an additional 500 shares during the last quarter. Mufg Securities Americas Inc. grew its position in Expeditors International of Washington by 6.3% in the second quarter. Mufg Securities Americas Inc. now owns 3,940 shares of the transportation company’s stock worth $642,000 after acquiring an additional 232 shares during the period. Nissay Asset Management Corp Japan grew its position in Expeditors International of Washington by 2.1% in the second quarter. Nissay Asset Management Corp Japan now owns 19,145 shares of the transportation company’s stock worth $3,120,000 after acquiring an additional 398 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Expeditors International of Washington during the second quarter worth $81,000. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Expeditors International of Washington Price Performance

NASDAQ EXPD opened at $189.74 on Tuesday. The company has a market cap of $24.66 billion, a P/E ratio of 33.17, a P/E/G ratio of 5.00 and a beta of 1.04. The stock has a 50-day moving average of $176.30 and a two-hundred day moving average of $159.83. Expeditors International of Washington, Inc. has a 1-year low of $112.94 and a 1-year high of $192.28.

Expeditors International of Washington (NASDAQ:EXPD) last issued 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 net margin of 7.64% and a return on equity of 36.16%. During the same quarter in the previous year, the firm earned $1.34 EPS. Expeditors International of Washington’s quarterly revenue was up 32.1% compared to the same quarter last year. On average, analysts anticipate that Expeditors International of Washington, Inc. will post 5.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on EXPD shares. Stephens upgraded Expeditors International of Washington to a “strong-buy” rating in a research report on Wednesday, July 8th. Bank of America raised 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. TD Cowen boosted their price objective on shares of Expeditors International of Washington from $148.00 to $176.00 and gave the company a “sell” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. raised shares of Expeditors International of Washington from an “underweight” rating to a “neutral” rating and set a $200.00 target price on the stock in a research report on Wednesday, August 5th. Finally, UBS Group increased their target price on shares of Expeditors International of Washington from $191.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Expeditors International of Washington presently has an average rating of “Hold” and a consensus price target of $168.78.

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.