Seven Eight Capital LP Decreases Position in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Seven Eight Capital LP lowered its position in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 72.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,686 shares of the transportation company’s stock after selling 12,286 shares during the quarter. Seven Eight Capital LP’s holdings in Expeditors International of Washington were worth $585,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Boston Partners increased its holdings in Expeditors International of Washington by 2.4% during the 1st quarter. Boston Partners now owns 2,936,736 shares of the transportation company’s stock valued at $356,923,000 after acquiring an additional 67,800 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of Expeditors International of Washington by 0.3% during the 1st quarter. First Eagle Investment Management LLC now owns 2,695,027 shares of the transportation company’s stock worth $327,634,000 after purchasing an additional 8,282 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Expeditors International of Washington by 4.6% during the 4th quarter. Wellington Management Group LLP now owns 2,622,758 shares of the transportation company’s stock worth $333,615,000 after purchasing an additional 115,978 shares during the last quarter. Baird Financial Group Inc. lifted its stake in Expeditors International of Washington by 1.3% in the 4th quarter. Baird Financial Group Inc. now owns 1,609,789 shares of the transportation company’s stock valued at $204,765,000 after buying an additional 20,272 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in Expeditors International of Washington by 580.8% during the 4th quarter. First Trust Advisors LP now owns 1,584,361 shares of the transportation company’s stock valued at $201,531,000 after buying an additional 1,351,630 shares during the last quarter. Institutional investors and hedge funds own 94.02% of the company’s stock.

Expeditors International of Washington Stock Down 2.0 %

EXPD stock opened at $123.18 on Friday. The company has a market cap of $17.40 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 5.59 and a beta of 0.97. The business has a fifty day simple moving average of $122.00 and a 200-day simple moving average of $120.50. Expeditors International of Washington, Inc. has a 52 week low of $107.03 and a 52 week high of $131.17.

Expeditors International of Washington (NASDAQ:EXPD) last announced its quarterly earnings results on Tuesday, August 6th. The transportation company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.02). Expeditors International of Washington had a return on equity of 29.15% and a net margin of 7.40%. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the prior year, the company earned $1.30 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year. As a group, analysts expect that Expeditors International of Washington, Inc. will post 5.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on EXPD. Benchmark reaffirmed a “hold” rating on shares of Expeditors International of Washington in a research note on Wednesday, August 7th. Bank of America lifted their price target on shares of Expeditors International of Washington from $131.00 to $132.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Robert W. Baird upped their price objective on shares of Expeditors International of Washington from $118.00 to $126.00 and gave the company a “neutral” rating in a research note on Wednesday, July 3rd. UBS Group raised shares of Expeditors International of Washington from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $95.00 to $137.00 in a research note on Thursday, August 1st. Finally, Wolfe Research raised Expeditors International of Washington from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, May 28th. Two analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $116.00.

Expeditors International of Washington Company Profile

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services worldwide. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, import, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other supply chain solutions.