The Manufacturers Life Insurance Company Purchases Shares of 67,402 Expeditors International of Washington, Inc. $EXPD

The Manufacturers Life Insurance Company acquired a new position in Expeditors International of Washington, Inc. (NASDAQ:EXPD) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 67,402 shares of the transportation company’s stock, valued at approximately $10,985,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Expeditors International of Washington in the second quarter valued at approximately $2,193,093,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Expeditors International of Washington by 733.9% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,887,853 shares of the transportation company’s stock worth $231,432,000 after buying an additional 1,661,457 shares during the period. Southpoint Capital Advisors LP acquired a new stake in shares of Expeditors International of Washington in the fourth quarter valued at $201,164,000. Norges Bank purchased a new stake in shares of Expeditors International of Washington in the 4th quarter valued at $180,719,000. Finally, Balyasny Asset Management L.P. acquired a new position in Expeditors International of Washington during the 3rd quarter worth about $113,194,000. Institutional investors and hedge funds own 94.02% of the company’s stock.

Expeditors International of Washington Price Performance

NASDAQ:EXPD opened at $191.24 on Friday. Expeditors International of Washington, Inc. has a 1-year low of $112.94 and a 1-year high of $192.28. The stock has a market cap of $24.86 billion, a P/E ratio of 33.43, a PEG ratio of 5.00 and a beta of 1.04. The firm has a 50-day moving average of $175.78 and a two-hundred day moving average of $159.66.

Expeditors International of Washington (NASDAQ:EXPD) last released its earnings results on Tuesday, August 4th. The transportation company reported $2.03 earnings per share for the quarter, topping the consensus estimate 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%. During the same period in the prior year, the company posted $1.34 earnings per share. Expeditors International of Washington’s revenue was up 32.1% compared to the same quarter last year. As a group, equities analysts expect that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Truist Financial raised their target price on Expeditors International of Washington from $145.00 to $175.00 and gave the company a “hold” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. raised shares of Expeditors International of Washington from an “underweight” rating to a “neutral” rating and set a $200.00 price target on the stock in a research report on Wednesday, August 5th. Zacks Research raised shares of Expeditors International of Washington from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Barclays lifted their price objective on shares of Expeditors International of Washington from $150.00 to $160.00 and gave the company an “underweight” rating in a report on Wednesday, August 5th. Finally, Citizens Jmp began coverage on shares of Expeditors International of Washington in a report on Wednesday, July 15th. They set a “market perform” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $168.78.

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.