Contravisory Investment Management Inc. boosted its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 196.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,656 shares of the transportation company’s stock after buying an additional 3,085 shares during the period. Contravisory Investment Management Inc.’s holdings in Expeditors International of Washington were worth $263,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Expeditors International of Washington by 1,951.4% in the first quarter. BlackRock Inc. now owns 14,494,247 shares of the transportation company’s stock valued at $818,780,000 after buying an additional 13,787,678 shares during the last quarter. FMR LLC increased its stake in shares of Expeditors International of Washington by 43.0% in the first quarter. FMR LLC now owns 4,754,505 shares of the transportation company’s stock valued at $268,582,000 after buying an additional 1,429,041 shares during the last quarter. BLS Capital Fondsmaeglerselskab A S purchased a new stake in shares of Expeditors International of Washington during the fourth quarter valued at about $32,449,000. Janus Capital Management LLC increased its stake in shares of Expeditors International of Washington by 16.5% in the first quarter. Janus Capital Management LLC now owns 4,097,422 shares of the transportation company’s stock valued at $231,463,000 after buying an additional 579,228 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Expeditors International of Washington by 2.4% in the first quarter. Vanguard Group Inc. now owns 19,172,075 shares of the transportation company’s stock valued at $1,083,031,000 after buying an additional 450,763 shares during the last quarter. 94.25% of the stock is owned by institutional investors and hedge funds.
Shares of Expeditors International of Washington, Inc. (EXPD) traded up 0.24% during trading on Friday, hitting $58.78. 793,654 shares of the stock were exchanged. Expeditors International of Washington, Inc. has a one year low of $47.23 and a one year high of $59.90. The stock’s 50 day moving average price is $57.07 and its 200-day moving average price is $55.43. The company has a market cap of $10.59 billion, a price-to-earnings ratio of 25.12 and a beta of 0.64.
Expeditors International of Washington (NASDAQ:EXPD) last issued its quarterly earnings data on Tuesday, May 2nd. The transportation company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.56 by $0.05. Expeditors International of Washington had a return on equity of 23.01% and a net margin of 6.87%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the company posted $0.53 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year. On average, analysts predict that Expeditors International of Washington, Inc. will post $2.36 EPS for the current year.
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EXPD has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Expeditors International of Washington from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. Vertical Research reissued a “hold” rating and issued a $63.00 price objective on shares of Expeditors International of Washington in a research note on Thursday, April 13th. Morgan Stanley reissued an “equal weight” rating on shares of Expeditors International of Washington in a research note on Tuesday, July 11th. Seaport Global Securities reissued a “neutral” rating on shares of Expeditors International of Washington in a research note on Thursday, July 6th. Finally, BidaskClub raised shares of Expeditors International of Washington from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $54.83.
About Expeditors International of Washington
Expeditors International of Washington, Inc is a logistics company. The Company is a third-party logistics provider, and purchases cargo space from carriers, including airlines and ocean shipping lines on a volume basis and resells that space to its customers. The Company provides a range of customer solutions, such as order management, time-definite transportation, warehousing and distribution, temperature-controlled transit, cargo insurance and customized logistics solutions.
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