Expeditors International of Washington, Inc. $EXPD Stock: Pictet Asset Management Holding SA Reduces Stake

Pictet Asset Management Holding SA reduced its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 13.8% in the third quarter, HoldingsChannel reports. The fund owned 140,726 shares of the transportation company’s stock after selling 22,533 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Expeditors International of Washington were worth $25,986,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Compass Wealth Management LLC bought a new position in shares of Expeditors International of Washington in the third quarter valued at approximately $27,000. Latitude Advisors LLC acquired a new position in shares of Expeditors International of Washington during the third quarter valued at approximately $27,000. Fortitude Family Office LLC raised its holdings in Expeditors International of Washington by 76.0% during the third quarter. Fortitude Family Office LLC now owns 176 shares of the transportation company’s stock worth $32,000 after purchasing an additional 76 shares in the last quarter. Hara Capital LLC bought a new stake in Expeditors International of Washington during the second quarter worth approximately $33,000. Finally, Continuum Advisory LLC bought a new stake in Expeditors International of Washington during the second quarter worth approximately $33,000. 94.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on EXPD. Truist Financial upped their target price on Expeditors International of Washington from $175.00 to $200.00 and gave the stock a “hold” rating in a research report on Wednesday, November 4th. BNP Paribas Exane began coverage on Expeditors International of Washington in a research report on Wednesday, September 30th. They set a “neutral” rating and a $180.00 price target on the stock. Bank of America boosted their price objective on Expeditors International of Washington from $181.00 to $189.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Zacks Research upgraded Expeditors International of Washington from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 4th. Finally, JPMorgan Chase & Co. raised their target price on Expeditors International of Washington from $214.00 to $220.00 and gave the company a “neutral” rating in a research note on Wednesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $181.27.

Expeditors International of Washington Trading Up 2.8%

NASDAQ:EXPD opened at $194.52 on Thursday. The company has a 50-day moving average of $192.39 and a 200-day moving average of $168.34. The firm has a market cap of $25.11 billion, a price-to-earnings ratio of 34.01, a price-to-earnings-growth ratio of 5.00 and a beta of 1.08. Expeditors International of Washington, Inc. has a twelve month low of $129.59 and a twelve month high of $207.93.

Expeditors International of Washington (NASDAQ:EXPD) last released its earnings results on Tuesday, November 3rd. The transportation company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.43. 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 $1.64 EPS. Expeditors International of Washington’s revenue was up 41.9% compared to the same quarter last year. On average, research analysts forecast that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

Expeditors International of Washington Announces Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a $0.81 dividend. The ex-dividend date is Tuesday, December 1st. This represents a yield of 79.0%. Expeditors International of Washington’s payout ratio is 20.56%.

Expeditors International of Washington Profile

Expeditors International of Washington is a global, non-asset-based logistics company that helps businesses move goods and manage supply chains. Founded in Seattle in 1979, the company arranges transportation and related services through its worldwide network. Its services include air and ocean freight forwarding, customs brokerage, cargo insurance, warehousing and distribution, and order and supply chain management. Expeditors coordinates shipments with carriers and other service providers rather than operating as a traditional transportation company.