Park Avenue Securities LLC Cuts Stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Park Avenue Securities LLC cut its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 55.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,511 shares of the transportation company’s stock after selling 3,159 shares during the quarter. Park Avenue Securities LLC’s holdings in Expeditors International of Washington were worth $330,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Crewe Advisors LLC purchased a new position in Expeditors International of Washington in the 1st quarter worth $25,000. Innealta Capital LLC purchased a new stake in Expeditors International of Washington during the 2nd quarter valued at about $31,000. Family Firm Inc. bought a new position in Expeditors International of Washington during the 2nd quarter worth approximately $35,000. ORG Partners LLC increased its stake in Expeditors International of Washington by 752.0% in the 1st quarter. ORG Partners LLC now owns 426 shares of the transportation company’s stock worth $51,000 after purchasing an additional 376 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Expeditors International of Washington in the 2nd quarter worth approximately $52,000. 94.02% of the stock is currently owned by institutional investors.

Expeditors International of Washington Price Performance

NASDAQ:EXPD opened at $123.02 on Monday. The firm’s 50-day moving average price is $122.55 and its 200-day moving average price is $120.98. The company has a market capitalization of $17.36 billion, a PE ratio of 26.40, a P/E/G ratio of 5.51 and a beta of 0.97. Expeditors International of Washington, Inc. has a 1-year low of $107.03 and a 1-year high of $131.59.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wolfe Research cut shares of Expeditors International of Washington from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 9th. Bank of America upped their price objective on shares of Expeditors International of Washington from $131.00 to $132.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Benchmark reissued a “hold” rating on shares of Expeditors International of Washington in a research note on Wednesday, August 7th. Robert W. Baird upped their price target on Expeditors International of Washington from $118.00 to $126.00 and gave the company a “neutral” rating in a research report on Wednesday, July 3rd. Finally, UBS Group raised Expeditors International of Washington from a “sell” rating to a “neutral” rating and boosted their target price for the company from $95.00 to $137.00 in a research note on Thursday, August 1st. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.