Pictet Asset Management Ltd. Lowers Position in Expeditors International of Washington (NASDAQ:EXPD)

Pictet Asset Management Ltd. lessened its stake in Expeditors International of Washington (NASDAQ:EXPD) by 7.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 275,134 shares of the transportation company’s stock after selling 22,825 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Expeditors International of Washington were worth $20,872,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in shares of Expeditors International of Washington by 1.2% during the 1st quarter. BlackRock Inc. now owns 14,817,933 shares of the transportation company’s stock valued at $1,124,681,000 after buying an additional 169,828 shares in the last quarter. Commonwealth Bank of Australia lifted its position in shares of Expeditors International of Washington by 2.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 4,298,296 shares of the transportation company’s stock valued at $326,048,000 after buying an additional 118,440 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Expeditors International of Washington by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,626,370 shares of the transportation company’s stock valued at $199,237,000 after buying an additional 20,817 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Expeditors International of Washington by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 2,625,188 shares of the transportation company’s stock valued at $178,482,000 after buying an additional 113,850 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Expeditors International of Washington by 0.6% during the 2nd quarter. Northern Trust Corp now owns 2,281,180 shares of the transportation company’s stock valued at $173,051,000 after buying an additional 13,649 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

In related news, insider Eugene K. Alger sold 39,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $71.24, for a total value of $2,778,360.00. Following the completion of the transaction, the insider now directly owns 48,787 shares of the company’s stock, valued at approximately $3,475,585.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eugene K. Alger sold 36,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $71.05, for a total value of $2,557,800.00. Following the completion of the transaction, the insider now directly owns 45,787 shares of the company’s stock, valued at $3,253,166.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,860 shares of company stock valued at $5,586,330. 1.20% of the stock is owned by corporate insiders.



A number of research analysts have recently issued reports on the company. BidaskClub upgraded Expeditors International of Washington from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Stifel Nicolaus decreased their target price on Expeditors International of Washington from $73.00 to $72.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. UBS Group set a $67.00 target price on Expeditors International of Washington and gave the company a “sell” rating in a research report on Wednesday, August 7th. Loop Capital assumed coverage on Expeditors International of Washington in a research report on Thursday, May 30th. They set a “hold” rating and a $78.00 target price on the stock. Finally, Goldman Sachs Group assumed coverage on Expeditors International of Washington in a research note on Wednesday, July 10th. They issued a “sell” rating and a $70.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Expeditors International of Washington presently has an average rating of “Hold” and an average target price of $73.13.

NASDAQ EXPD traded up $1.56 during mid-day trading on Friday, hitting $76.77. The stock had a trading volume of 43,516 shares, compared to its average volume of 792,447. The firm’s 50 day moving average is $72.35 and its 200 day moving average is $74.57. Expeditors International of Washington has a twelve month low of $62.90 and a twelve month high of $80.69. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.12 and a quick ratio of 2.12. The stock has a market capitalization of $12.89 billion, a price-to-earnings ratio of 22.02 and a beta of 0.96.

Expeditors International of Washington (NASDAQ:EXPD) last posted its quarterly earnings data on Tuesday, August 6th. The transportation company reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.08. Expeditors International of Washington had a return on equity of 31.26% and a net margin of 7.57%. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the prior year, the company earned $0.79 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts expect that Expeditors International of Washington will post 3.53 earnings per share for the current year.

Expeditors International of Washington Profile

Expeditors International of Washington, Inc provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. 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, 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, and other logistics solutions.

Further Reading: What is an Initial Coin Offering (ICO)?

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Institutional Ownership by Quarter for Expeditors International of Washington (NASDAQ:EXPD)

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