JPMorgan Chase & Co. Cuts Stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

JPMorgan Chase & Co. lessened its position in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 3.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,774,889 shares of the transportation company’s stock after selling 71,792 shares during the period. JPMorgan Chase & Co.’s holdings in Expeditors International of Washington were worth $233,220,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in EXPD. Charles Schwab Investment Management Inc. boosted its stake in Expeditors International of Washington by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 833,610 shares of the transportation company’s stock valued at $109,536,000 after purchasing an additional 51,265 shares during the last quarter. Franklin Resources Inc. increased its holdings in Expeditors International of Washington by 18.9% in the 3rd quarter. Franklin Resources Inc. now owns 193,486 shares of the transportation company’s stock worth $23,623,000 after buying an additional 30,785 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Expeditors International of Washington in the 3rd quarter worth about $4,363,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in 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 acquiring an additional 10,202 shares during the period. Finally, Vest Financial LLC boosted its holdings in shares of Expeditors International of Washington by 34.3% during the 2nd quarter. Vest Financial LLC now owns 398,061 shares of the transportation company’s stock valued at $49,674,000 after acquiring an additional 101,710 shares during the last quarter. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Analysts Set New Price Targets

EXPD has been the subject of several research reports. Barclays increased 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 research report on Wednesday, November 6th. Wolfe Research downgraded Expeditors International of Washington from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 9th. Finally, TD Cowen upped their price objective 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 analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, Expeditors International of Washington presently has an average rating of “Hold” and a consensus target price of $118.44.

Insider Activity

In other news, Director Robert Paul Carlile sold 3,000 shares of Expeditors International of Washington stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $121.11, for a total transaction of $363,330.00. Following the sale, the director now owns 9,662 shares in the company, valued at $1,170,164.82. This trade represents a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.69% of the company’s stock.

Expeditors International of Washington Stock Down 0.6 %

EXPD stock opened at $110.80 on Tuesday. The business’s 50-day moving average price is $118.73 and its 200-day moving average price is $121.38. The stock has a market cap of $15.51 billion, a P/E ratio of 21.60, a PEG ratio of 3.42 and a beta of 0.97. Expeditors International of Washington, Inc. has a twelve month low of $109.43 and a twelve month 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 analysts’ consensus estimates of $1.33 by $0.30. The business had revenue of $3 billion during the quarter, compared to analyst estimates 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 was up 37.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.16 earnings per share. On average, equities research analysts expect that Expeditors International of Washington, Inc. will post 5.43 earnings per share for the current fiscal year.

Expeditors International of Washington Announces Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.73 per share. The ex-dividend date was Monday, December 2nd. This represents a yield of 1.2%. Expeditors International of Washington’s dividend payout ratio is presently 28.46%.

About Expeditors International of Washington

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.