Korea Investment CORP Raises Position in Expeditors International of Washington, Inc. $EXPD

Korea Investment CORP increased its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 28.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 67,908 shares of the transportation company’s stock after purchasing an additional 14,855 shares during the quarter. Korea Investment CORP’s holdings in Expeditors International of Washington were worth $8,325,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of EXPD. Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in Expeditors International of Washington in the third quarter worth $275,000. Munich Reinsurance Co Stock Corp in Munich purchased a new position in shares of Expeditors International of Washington during the 3rd quarter valued at $3,669,000. Aptus Capital Advisors LLC bought a new position in shares of Expeditors International of Washington during the 3rd quarter worth $261,000. Orion Porfolio Solutions LLC grew its stake in shares of Expeditors International of Washington by 107.1% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 5,411 shares of the transportation company’s stock worth $663,000 after acquiring an additional 2,798 shares during the period. Finally, Haven Capital Group Inc. purchased a new stake in Expeditors International of Washington in the 3rd quarter worth about $205,000. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Expeditors International of Washington Stock Performance

NASDAQ:EXPD opened at $140.80 on Thursday. Expeditors International of Washington, Inc. has a 52-week low of $100.47 and a 52-week high of $167.19. The stock has a fifty day moving average of $154.48 and a 200 day moving average of $140.02. The firm has a market capitalization of $18.80 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 5.00 and a beta of 1.15.

Expeditors International of Washington (NASDAQ:EXPD) last announced its earnings results on Tuesday, February 24th. The transportation company reported $1.49 earnings per share 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 last year, the company posted $1.68 EPS. Expeditors International of Washington’s quarterly revenue was down 3.3% compared to the same quarter last year. Equities analysts forecast that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EXPD. UBS Group upgraded Expeditors International of Washington from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $138.00 to $166.00 in a research note on Monday, November 17th. Truist Financial reduced their target price on shares of Expeditors International of Washington from $160.00 to $140.00 and set a “hold” rating for the company in a research note on Wednesday, February 25th. Morgan Stanley boosted their price target on shares of 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. Stifel Nicolaus upped their price target on shares of Expeditors International of Washington from $130.00 to $136.00 and gave the company a “hold” rating in a research note on Tuesday, December 16th. Finally, Wolfe Research raised shares of Expeditors International of Washington from a “strong sell” rating to a “hold” rating in a report on Monday. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price 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.