Redwood Investment Management LLC Makes New $1.17 Million Investment in Expeditors International of Washington, Inc. $EXPD

Redwood Investment Management LLC bought a new stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,196 shares of the transportation company’s stock, valued at approximately $1,173,000.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Expeditors International of Washington during the 2nd quarter valued at approximately $2,193,093,000. State Street Corp grew its position in Expeditors International of Washington by 5.2% in the third quarter. State Street Corp now owns 7,708,656 shares of the transportation company’s stock worth $945,004,000 after acquiring an additional 377,703 shares during the period. First Eagle Investment Management LLC increased its stake in Expeditors International of Washington by 0.5% during the fourth quarter. First Eagle Investment Management LLC now owns 6,312,305 shares of the transportation company’s stock worth $940,597,000 after acquiring an additional 32,063 shares during the last quarter. Bank of America Corp DE increased its stake in Expeditors International of Washington by 0.8% during the second quarter. Bank of America Corp DE now owns 2,585,934 shares of the transportation company’s stock worth $421,456,000 after acquiring an additional 21,400 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Expeditors International of Washington by 64.1% in the third quarter. Wellington Management Group LLP now owns 1,920,927 shares of the transportation company’s stock valued at $235,486,000 after purchasing an additional 749,993 shares during the period. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Wall Street Analyst Weigh In

EXPD has been the topic of several recent analyst reports. UBS Group upped their price target on Expeditors International of Washington from $191.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. TD Cowen raised their price objective on Expeditors International of Washington from $148.00 to $176.00 and gave the stock a “sell” rating in a research report on Wednesday, August 5th. Stephens upgraded shares of Expeditors International of Washington to a “strong-buy” rating in a report on Wednesday, July 8th. Truist Financial upped their target price 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. Finally, Stifel Nicolaus increased their target price on shares of 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. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Expeditors International of Washington has a consensus rating of “Hold” and an average price target of $168.78.

Expeditors International of Washington Price Performance

Shares of Expeditors International of Washington stock opened at $190.27 on Thursday. The stock has a market capitalization of $24.73 billion, a price-to-earnings ratio of 33.26, a price-to-earnings-growth ratio of 5.00 and a beta of 1.04. The business has a 50-day moving average of $174.59 and a 200 day moving average of $159.26. Expeditors International of Washington, Inc. has a 12 month low of $112.94 and a 12 month high of $191.79.

Expeditors International of Washington (NASDAQ:EXPD) last issued its quarterly earnings results on Tuesday, August 4th. The transportation company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.34. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. Expeditors International of Washington’s revenue was up 32.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.34 EPS. Equities research analysts anticipate that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

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.