Moran Wealth Management LLC Boosts Stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Moran Wealth Management LLC raised its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 0.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 56,628 shares of the transportation company’s stock after acquiring an additional 290 shares during the period. Moran Wealth Management LLC’s holdings in Expeditors International of Washington were worth $7,441,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Swedbank AB purchased a new position in Expeditors International of Washington during the first quarter worth about $2,954,000. Magnetar Financial LLC purchased a new position in shares of Expeditors International of Washington in the 1st quarter worth about $1,305,000. Assenagon Asset Management S.A. boosted its holdings in shares of Expeditors International of Washington by 62.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 182,816 shares of the transportation company’s stock worth $22,814,000 after purchasing an additional 70,329 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of Expeditors International of Washington in the 1st quarter worth about $729,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Expeditors International of Washington by 58.8% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 27,561 shares of the transportation company’s stock worth $3,439,000 after purchasing an additional 10,202 shares in the last quarter. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Benchmark reiterated a “hold” rating on shares of Expeditors International of Washington in a report on Wednesday, August 7th. Barclays upped their price objective on Expeditors International of Washington from $105.00 to $110.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. TD Cowen increased their target price on Expeditors International of Washington from $106.00 to $108.00 and gave the company a “sell” rating in a report on Wednesday, November 6th. UBS Group upgraded Expeditors International of Washington from a “sell” rating to a “neutral” rating and increased their target price for the company from $95.00 to $137.00 in a report on Thursday, August 1st. Finally, Wolfe Research cut Expeditors International of Washington from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 9th. Four analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $118.44.

Expeditors International of Washington Price Performance

EXPD opened at $118.89 on Thursday. The business has a 50 day simple moving average of $121.86 and a two-hundred day simple moving average of $121.72. The firm has a market capitalization of $16.64 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 3.45 and a beta of 0.98. Expeditors International of Washington, Inc. has a one year low of $111.20 and a one year high of $131.59.

Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings results on Tuesday, November 5th. The transportation company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.30. Expeditors International of Washington had a return on equity of 32.12% and a net margin of 7.39%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the company posted $1.16 EPS. Expeditors International of Washington’s quarterly revenue was up 37.0% compared to the same quarter last year. As a group, sell-side analysts expect that Expeditors International of Washington, Inc. will post 5.37 EPS for the current fiscal year.

Expeditors International of Washington Dividend Announcement

The company also recently announced a semi-annual dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.73 dividend. This represents a dividend yield of 1.2%. The ex-dividend date is Monday, December 2nd. Expeditors International of Washington’s dividend payout ratio is currently 28.46%.

Expeditors International of Washington Company Profile

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services worldwide. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, import, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other supply chain solutions.