8,490 Shares in Expeditors International of Washington, Inc. $EXPD Acquired by Picton Mahoney Asset Management

Picton Mahoney Asset Management acquired a new stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,490 shares of the transportation company’s stock, valued at approximately $1,041,000.

Several other hedge funds have also added to or reduced their stakes in EXPD. Allianz Asset Management GmbH increased its holdings 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 acquiring an additional 69,290 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake 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 in the last quarter. Ascent Group LLC grew its position in Expeditors International of Washington by 237.3% during the 3rd quarter. Ascent Group LLC now owns 10,315 shares of the transportation company’s stock valued at $1,265,000 after purchasing an additional 7,257 shares during the last quarter. Mediolanum International Funds Ltd bought a new stake in Expeditors International of Washington during the 3rd quarter valued at about $464,000. Finally, Nordea Investment Management AB increased its stake in Expeditors International of Washington by 7.4% during the 3rd quarter. Nordea Investment Management AB now owns 648,101 shares of the transportation company’s stock valued at $78,867,000 after purchasing an additional 44,849 shares in the last quarter. 94.02% of the stock is owned by institutional investors.

Expeditors International of Washington Trading Down 0.2%

NASDAQ:EXPD opened at $146.61 on Friday. The company has a market cap of $19.57 billion, a PE ratio of 25.63, a price-to-earnings-growth ratio of 5.00 and a beta of 1.15. The company has a 50 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 quarterly 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%.During the same period in the prior year, the company posted $1.68 EPS. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. Research analysts forecast that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

EXPD has been the topic of a number of recent analyst reports. UBS Group upgraded shares of Expeditors International of Washington from a “neutral” rating to a “buy” rating and increased their price target for the company from $138.00 to $166.00 in a report on Monday, November 17th. Truist Financial lowered their price objective on Expeditors International of Washington from $160.00 to $140.00 and set a “hold” rating on the stock in a research report on Wednesday, February 25th. Stifel Nicolaus lifted their target price on Expeditors International of Washington from $130.00 to $136.00 and gave the stock a “hold” rating in a report on Tuesday, December 16th. Zacks Research cut Expeditors International of Washington from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 14th. Finally, Morgan Stanley increased their price objective on Expeditors International of Washington from $90.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, December 8th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $134.30.

Expeditors International of Washington Company 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.