Ascent Group LLC Reduces Stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Ascent Group LLC reduced its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 28.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,237 shares of the transportation company’s stock after selling 1,312 shares during the quarter. Ascent Group LLC’s holdings in Expeditors International of Washington were worth $404,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. SkyView Investment Advisors LLC boosted its stake in shares of Expeditors International of Washington by 13.3% during the 2nd quarter. SkyView Investment Advisors LLC now owns 5,144 shares of the transportation company’s stock worth $642,000 after acquiring an additional 603 shares in the last quarter. Scientech Research LLC purchased a new stake in shares of Expeditors International of Washington in the second quarter valued at approximately $1,506,000. Mackenzie Financial Corp boosted its stake in Expeditors International of Washington by 3.9% during the second quarter. Mackenzie Financial Corp now owns 38,649 shares of the transportation company’s stock worth $4,823,000 after buying an additional 1,438 shares during the last quarter. Marshfield Associates raised its stake in Expeditors International of Washington by 0.3% during the second quarter. Marshfield Associates now owns 1,811,149 shares of the transportation company’s stock worth $226,013,000 after purchasing an additional 5,712 shares during the period. Finally, MBB Public Markets I LLC acquired a new position in Expeditors International of Washington in the second quarter valued at approximately $1,446,000. Institutional investors and hedge funds own 94.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Benchmark reiterated a “hold” rating on shares of Expeditors International of Washington in a research note on Wednesday, August 7th. UBS Group raised shares of Expeditors International of Washington from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $95.00 to $137.00 in a research note on Thursday, August 1st. Robert W. Baird boosted their target price on shares of Expeditors International of Washington from $118.00 to $126.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 3rd. Finally, Bank of America raised their price objective on shares of Expeditors International of Washington from $131.00 to $132.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $116.00.

Expeditors International of Washington Trading Down 2.3 %

Shares of EXPD opened at $128.32 on Wednesday. The firm has a market capitalization of $18.13 billion, a P/E ratio of 27.19, a price-to-earnings-growth ratio of 5.71 and a beta of 0.97. The stock’s fifty day simple moving average is $122.97 and its 200 day simple moving average is $120.86. Expeditors International of Washington, Inc. has a twelve month low of $107.03 and a twelve month high of $131.59.

Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings data on Tuesday, August 6th. The transportation company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.02). The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Expeditors International of Washington had a net margin of 7.40% and a return on equity of 29.15%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the business earned $1.30 earnings per share. Sell-side analysts predict that Expeditors International of Washington, Inc. will post 5.01 earnings per share for the current year.

Expeditors International of Washington 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.