Expeditors International of Washington (NASDAQ:EXPD) Hits New 12-Month High on Analyst Upgrade

Expeditors International of Washington, Inc. (NASDAQ:EXPD) shares hit a new 52-week high during mid-day trading on Monday after Bank of America upgraded the stock from a neutral rating to a buy rating. The company traded as high as $160.22 and last traded at $160.6250, with a volume of 184480 shares trading hands. The stock had previously closed at $158.89.

Other equities research analysts have also recently issued reports about the stock. Truist Financial boosted their price objective on shares of Expeditors International of Washington from $120.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, November 5th. Stifel Nicolaus lifted their price target on shares of Expeditors International of Washington from $130.00 to $136.00 and gave the company a “hold” rating in a research note on Tuesday, December 16th. TD Cowen boosted their price target on Expeditors International of Washington from $111.00 to $131.00 and gave the company a “sell” rating in a report on Wednesday, November 5th. JPMorgan Chase & Co. increased their price objective on Expeditors International of Washington from $116.00 to $134.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 5th. Finally, Morgan Stanley lifted their target price on Expeditors International of Washington from $90.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $128.60.

Insiders Place Their Bets

In related news, Director Mark A. Emmert sold 5,400 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $135.25, for a total transaction of $730,350.00. Following the completion of the sale, the director directly owned 6,468 shares in the company, valued at $874,797. This represents a 45.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Jeffrey F. Dickerman sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $134.17, for a total value of $201,255.00. Following the sale, the vice president directly owned 6,151 shares in the company, valued at approximately $825,279.67. The trade was a 19.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.69% of the stock is owned by corporate insiders.

Institutional Trading of Expeditors International of Washington

Several hedge funds have recently modified their holdings of the company. RIA Advisory Group LLC grew its position in shares of Expeditors International of Washington by 2.7% in the 3rd quarter. RIA Advisory Group LLC now owns 2,970 shares of the transportation company’s stock worth $364,000 after buying an additional 78 shares during the last quarter. HighPoint Advisor Group LLC boosted its stake in Expeditors International of Washington by 4.2% in the third quarter. HighPoint Advisor Group LLC now owns 2,085 shares of the transportation company’s stock valued at $256,000 after acquiring an additional 84 shares in the last quarter. Atria Investments Inc grew its holdings in Expeditors International of Washington by 0.3% in the second quarter. Atria Investments Inc now owns 33,522 shares of the transportation company’s stock worth $3,830,000 after purchasing an additional 91 shares during the last quarter. Forum Financial Management LP grew its holdings in Expeditors International of Washington by 3.9% in the second quarter. Forum Financial Management LP now owns 2,714 shares of the transportation company’s stock worth $310,000 after purchasing an additional 101 shares during the last quarter. Finally, Wynn Capital LLC increased its position in shares of Expeditors International of Washington by 2.5% during the fourth quarter. Wynn Capital LLC now owns 4,149 shares of the transportation company’s stock worth $618,000 after purchasing an additional 101 shares in the last quarter. 94.02% of the stock is owned by hedge funds and other institutional investors.

Expeditors International of Washington Stock Performance

The firm has a fifty day moving average price of $148.23 and a 200 day moving average price of $129.44. The stock has a market cap of $21.54 billion, a PE ratio of 28.10, a price-to-earnings-growth ratio of 5.00 and a beta of 1.14.

Expeditors International of Washington Announces Dividend

The firm also recently declared a dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.77 dividend. This represents a yield of 105.0%. The ex-dividend date of this dividend was Monday, December 1st. Expeditors International of Washington’s dividend payout ratio (DPR) is currently 25.12%.

About Expeditors International of Washington

Expeditors International of Washington is a global logistics and freight forwarding company headquartered in Seattle, Washington. The firm specializes in providing tailored supply chain solutions that encompass air, ocean and ground transportation. Through an integrated service model, Expeditors coordinates and manages the movement of goods for a diverse customer base, including manufacturers, retailers and technology companies.

The company’s core offerings include customs brokerage, cargo insurance, distribution and warehousing services, as well as vendor consolidation and inventory management.