Norges Bank Takes Position in Expeditors International of Washington, Inc. $EXPD

Norges Bank acquired a new stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 1,212,798 shares of the transportation company’s stock, valued at approximately $180,719,000. Norges Bank owned approximately 0.90% of Expeditors International of Washington as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its stake in Expeditors International of Washington by 6.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 993,697 shares of the transportation company’s stock valued at $121,817,000 after purchasing an additional 62,500 shares during the period. Allianz Asset Management GmbH raised its stake in Expeditors International of Washington by 14.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 565,430 shares of the transportation company’s stock valued at $69,316,000 after purchasing an additional 69,290 shares during the period. Picton Mahoney Asset Management bought a new stake in Expeditors International of Washington during the 3rd quarter valued at approximately $1,041,000. Exchange Traded Concepts LLC raised its stake in Expeditors International of Washington by 40.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 72,528 shares of the transportation company’s stock valued at $10,807,000 after purchasing an additional 20,755 shares during the period. Finally, Clifford Swan Investment Counsel LLC raised its stake in Expeditors International of Washington by 12.7% during the 3rd quarter. Clifford Swan Investment Counsel LLC now owns 80,232 shares of the transportation company’s stock valued at $9,836,000 after purchasing an additional 9,019 shares during the period. 94.02% of the stock is owned by hedge funds and other institutional investors.

Expeditors International of Washington Stock Performance

NASDAQ EXPD opened at $159.04 on Thursday. The company has a market cap of $20.80 billion, a P/E ratio of 27.80, a P/E/G ratio of 5.00 and a beta of 1.05. The business’s 50 day moving average price is $150.63 and its 200-day moving average price is $150.98. Expeditors International of Washington, Inc. has a fifty-two week low of $110.48 and a fifty-two week high of $167.19.

Expeditors International of Washington (NASDAQ:EXPD) last released its earnings results on Tuesday, May 5th. The transportation company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.38. Expeditors International of Washington had a return on equity of 36.16% and a net margin of 7.64%.The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.47 EPS. As a group, equities analysts predict that Expeditors International of Washington, Inc. will post 5.39 EPS for the current year.

Expeditors International of Washington Announces Dividend

The business also recently announced a dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.81 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a dividend yield of 101.0%. Expeditors International of Washington’s payout ratio is currently 26.21%.

Wall Street Analyst Weigh In

EXPD has been the topic of several recent analyst reports. Wolfe Research raised Expeditors International of Washington from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Susquehanna lifted their price objective on Expeditors International of Washington from $142.00 to $156.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Truist Financial reduced their price objective on Expeditors International of Washington from $160.00 to $140.00 and set a “hold” rating on the stock in a research note on Wednesday, February 25th. JPMorgan Chase & Co. lifted their price objective on Expeditors International of Washington from $135.00 to $139.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 6th. Finally, UBS Group lifted their price objective on Expeditors International of Washington from $166.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $137.30.

Expeditors International of Washington 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.