Expeditors International of Washington, Inc. (NASDAQ:EXPD) Shares Sold by Pitcairn Co.

Pitcairn Co. lowered its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 62.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,149 shares of the transportation company’s stock after selling 8,569 shares during the period. Pitcairn Co.’s holdings in Expeditors International of Washington were worth $677,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of EXPD. Swedbank AB purchased a new position in Expeditors International of Washington during the first quarter valued at approximately $2,954,000. Assenagon Asset Management S.A. grew its stake in shares of Expeditors International of Washington by 62.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 182,816 shares of the transportation company’s stock worth $22,814,000 after purchasing an additional 70,329 shares during the period. Cetera Advisors LLC acquired a new stake in shares of Expeditors International of Washington during the 1st quarter worth approximately $729,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Expeditors International of Washington by 58.8% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 27,561 shares of the transportation company’s stock valued at $3,439,000 after purchasing an additional 10,202 shares in the last quarter. Finally, Vest Financial LLC lifted its stake in shares of Expeditors International of Washington by 34.3% in the 2nd quarter. Vest Financial LLC now owns 398,061 shares of the transportation company’s stock valued at $49,674,000 after purchasing an additional 101,710 shares during the period. Institutional investors and hedge funds own 94.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EXPD. Barclays lifted their price objective on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. Wolfe Research lowered Expeditors International of Washington from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 9th. UBS Group upgraded Expeditors International of Washington from a “sell” rating to a “neutral” rating and increased their price target for the stock from $95.00 to $137.00 in a research report on Thursday, August 1st. Benchmark restated a “hold” rating on shares of Expeditors International of Washington in a research report on Wednesday, August 7th. Finally, TD Cowen increased their target price on Expeditors International of Washington from $106.00 to $108.00 and gave the company a “sell” rating in a research report on Wednesday, November 6th. Four investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $118.44.

Expeditors International of Washington Stock Performance

NASDAQ EXPD opened at $122.39 on Tuesday. The business has a fifty day moving average price of $121.88 and a 200 day moving average price of $121.87. The company has a market cap of $17.13 billion, a P/E ratio of 23.86, a P/E/G ratio of 3.48 and a beta of 0.98. Expeditors International of Washington, Inc. has a one year low of $111.20 and a one year high of $131.59.

Expeditors International of Washington (NASDAQ:EXPD) last posted its quarterly earnings results on Tuesday, November 5th. The transportation company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.30. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.47 billion. Expeditors International of Washington had a net margin of 7.39% and a return on equity of 32.12%. The company’s revenue for the quarter was up 37.0% on a year-over-year basis. During the same period last year, the firm posted $1.16 earnings per share. As a group, sell-side analysts predict that Expeditors International of Washington, Inc. will post 5.37 EPS for the current fiscal year.

Expeditors International of Washington Announces Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.73 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a dividend yield of 1.2%. Expeditors International of Washington’s dividend payout ratio is presently 28.46%.

Expeditors International of Washington Company Profile

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services worldwide. 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, import, 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, specialized cargo monitoring and tracking, and other supply chain solutions.