The Manufacturers Life Insurance Company Reduces Holdings in Expeditors International of Washington, Inc. $EXPD

The Manufacturers Life Insurance Company trimmed its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 12.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,402 shares of the transportation company’s stock after selling 9,811 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.05% of Expeditors International of Washington worth $10,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of EXPD. Arjuna Capital raised its position in Expeditors International of Washington by 37.0% during the 4th quarter. Arjuna Capital now owns 23,940 shares of the transportation company’s stock valued at $3,567,000 after purchasing an additional 6,471 shares during the last quarter. Forsta AP Fonden lifted its holdings in Expeditors International of Washington by 81.4% in the 4th quarter. Forsta AP Fonden now owns 89,600 shares of the transportation company’s stock worth $13,351,000 after buying an additional 40,200 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in shares of Expeditors International of Washington in the 4th quarter worth approximately $32,004,000. Kentucky Retirement Systems grew its position in shares of Expeditors International of Washington by 97.2% in the 1st quarter. Kentucky Retirement Systems now owns 16,973 shares of the transportation company’s stock worth $2,431,000 after buying an additional 8,367 shares during the last quarter. Finally, Midway Capital Research & Management purchased a new position in shares of Expeditors International of Washington during the fourth quarter valued at approximately $2,432,000. Institutional investors own 94.02% of the company’s stock.

Wall Street Analysts Forecast Growth

EXPD has been the subject of a number of recent analyst reports. Citizens Jmp assumed coverage on Expeditors International of Washington in a report on Wednesday, July 15th. They set a “market perform” rating for the company. Stifel Nicolaus lifted their price target on shares of Expeditors International of Washington from $154.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, July 15th. Stephens raised shares of Expeditors International of Washington to a “strong-buy” rating in a research report on Wednesday, July 8th. Truist Financial upped their price objective on shares of Expeditors International of Washington from $145.00 to $175.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. Finally, UBS Group raised 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 report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $168.78.

Expeditors International of Washington Stock Performance

EXPD stock opened at $192.65 on Friday. Expeditors International of Washington, Inc. has a fifty-two week low of $112.94 and a fifty-two week high of $193.15. The company has a market capitalization of $25.04 billion, a price-to-earnings ratio of 33.68, a price-to-earnings-growth ratio of 5.00 and a beta of 1.06. The business’s 50 day moving average price is $180.79 and its two-hundred day moving average price is $162.18.

Expeditors International of Washington (NASDAQ:EXPD) last released its earnings results on Tuesday, August 4th. The transportation company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates 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%.During the same period in the previous year, the firm posted $1.34 earnings per share. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. Sell-side analysts forecast that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

About Expeditors International of Washington

Expeditors International of Washington, Inc is a global logistics and supply chain management company headquartered in Seattle, Washington. The company provides transportation and related services that help businesses move goods through international and domestic supply chains.

Its primary services include airfreight and ocean-freight forwarding, customs brokerage, cargo consolidation, warehousing and distribution, order management, and other supply chain solutions. Expeditors also offers technology-enabled shipment visibility and logistics coordination designed to support customers’ import, export, and distribution activities.

Founded in 1979, Expeditors serves a broad range of industries through a network of offices and facilities across North America, Latin America, Europe, the Middle East, Africa, and the Asia-Pacific region.