Mitsubishi UFJ Asset Management Co. Ltd. Takes $57.85 Million Position in Expeditors International of Washington, Inc. $EXPD

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD) in the second quarter, Holdings Channel.com reports. The fund acquired 354,930 shares of the transportation company’s stock, valued at approximately $57,846,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Expeditors International of Washington by 733.9% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,887,853 shares of the transportation company’s stock worth $231,432,000 after purchasing an additional 1,661,457 shares during the period. Southpoint Capital Advisors LP acquired a new position in Expeditors International of Washington in the 4th quarter valued at about $201,164,000. Norges Bank purchased a new stake in shares of Expeditors International of Washington in the 4th quarter valued at approximately $180,719,000. Balyasny Asset Management L.P. purchased a new stake in shares of Expeditors International of Washington in the 3rd quarter valued at approximately $113,194,000. Finally, Wellington Management Group LLP increased its holdings in shares of Expeditors International of Washington by 64.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,920,927 shares of the transportation company’s stock worth $235,486,000 after buying an additional 749,993 shares during the last quarter. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Expeditors International of Washington Stock Performance

NASDAQ:EXPD opened at $186.25 on Thursday. Expeditors International of Washington, Inc. has a fifty-two week low of $112.94 and a fifty-two week high of $189.99. The company has a 50 day moving average price of $172.19 and a 200 day moving average price of $158.37. The stock has a market capitalization of $24.21 billion, a P/E ratio of 32.56, a PEG ratio of 5.00 and a beta of 1.04.

Expeditors International of Washington (NASDAQ:EXPD) last announced its earnings results on Tuesday, August 4th. The transportation company reported $2.03 earnings per share (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 last year, the business earned $1.34 EPS. The company’s quarterly revenue was up 32.1% compared to the same quarter last year. Research analysts forecast that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EXPD has been the topic of several analyst reports. Truist Financial lifted their price target on shares of Expeditors International of Washington from $145.00 to $175.00 and gave the company a “hold” rating in a research report on Wednesday, July 15th. Stifel Nicolaus raised their target price on Expeditors International of Washington from $154.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday, July 15th. Barclays upped their price target on Expeditors International of Washington from $150.00 to $160.00 and gave the company an “underweight” rating in a research note on Wednesday, August 5th. Citizens Jmp began coverage on Expeditors International of Washington in a report on Wednesday, July 15th. They set a “market perform” rating for the company. Finally, UBS Group raised their price objective on 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 investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $168.78.

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.