NewEdge Wealth LLC Lowers Stock Position in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

NewEdge Wealth LLC cut its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 63.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,287 shares of the transportation company’s stock after selling 10,794 shares during the period. NewEdge Wealth LLC’s holdings in Expeditors International of Washington were worth $800,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of EXPD. Versor Investments LP lifted its holdings in shares of Expeditors International of Washington by 12.8% during the third quarter. Versor Investments LP now owns 5,304 shares of the transportation company’s stock worth $608,000 after purchasing an additional 600 shares during the period. Boston Trust Walden Corp lifted its holdings in shares of Expeditors International of Washington by 3.2% during the fourth quarter. Boston Trust Walden Corp now owns 452,233 shares of the transportation company’s stock worth $57,524,000 after purchasing an additional 13,811 shares during the period. Achmea Investment Management B.V. lifted its holdings in shares of Expeditors International of Washington by 4.2% during the third quarter. Achmea Investment Management B.V. now owns 148,162 shares of the transportation company’s stock worth $16,983,000 after purchasing an additional 5,967 shares during the period. Barclays PLC lifted its holdings in shares of Expeditors International of Washington by 5.3% during the third quarter. Barclays PLC now owns 1,093,685 shares of the transportation company’s stock worth $125,370,000 after purchasing an additional 55,062 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Expeditors International of Washington by 8.9% during the third quarter. Ameriprise Financial Inc. now owns 669,562 shares of the transportation company’s stock worth $76,747,000 after purchasing an additional 54,993 shares during the period. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EXPD. Bank of America began coverage on Expeditors International of Washington in a report on Friday, March 15th. They set a “neutral” rating and a $126.00 price target for the company. BNP Paribas downgraded Expeditors International of Washington from a “neutral” rating to an “underperform” rating and set a $116.00 target price for the company. in a report on Thursday, January 11th. Stifel Nicolaus raised their target price on Expeditors International of Washington from $114.00 to $117.00 and gave the company a “hold” rating in a report on Wednesday, January 10th. Finally, JPMorgan Chase & Co. raised their target price on Expeditors International of Washington from $106.00 to $107.00 and gave the company an “underweight” rating in a report on Tuesday, April 9th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $108.63.

Insider Transactions at Expeditors International of Washington

In other news, VP Jeffrey F. Dickerman sold 2,000 shares of Expeditors International of Washington stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $122.63, for a total transaction of $245,260.00. Following the completion of the transaction, the vice president now owns 5,728 shares of the company’s stock, valued at approximately $702,424.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.75% of the company’s stock.

Expeditors International of Washington Stock Performance

Expeditors International of Washington stock opened at $115.62 on Wednesday. The company has a market cap of $16.40 billion, a P/E ratio of 23.12, a price-to-earnings-growth ratio of 8.69 and a beta of 0.99. Expeditors International of Washington, Inc. has a one year low of $106.43 and a one year high of $131.17. The business has a fifty day moving average of $120.55 and a two-hundred day moving average of $120.64.

Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings results on Tuesday, February 20th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.12). The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.32 billion. Expeditors International of Washington had a return on equity of 28.43% and a net margin of 8.10%. The company’s quarterly revenue was down 33.8% compared to the same quarter last year. During the same period last year, the firm earned $1.38 EPS. Sell-side analysts predict that Expeditors International of Washington, Inc. will post 4.75 EPS for the current year.

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.