Expeditors International of Washington, Inc. $EXPD Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 61.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,518 shares of the transportation company’s stock after purchasing an additional 11,990 shares during the period. CIBC Asset Management Inc’s holdings in Expeditors International of Washington were worth $4,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EXPD. Marble Wealth LLC acquired a new position in shares of Expeditors International of Washington in the fourth quarter worth about $293,000. Natixis Advisors LLC raised its position in shares of Expeditors International of Washington by 3.1% in the fourth quarter. Natixis Advisors LLC now owns 631,304 shares of the transportation company’s stock worth $94,071,000 after acquiring an additional 18,728 shares during the period. AXQ Capital LP acquired a new position in shares of Expeditors International of Washington in the fourth quarter worth about $271,000. a16z Perennial Management L.P. acquired a new position in shares of Expeditors International of Washington in the fourth quarter worth about $217,000. Finally, New Mexico Educational Retirement Board raised its position in shares of Expeditors International of Washington by 1.6% in the fourth quarter. New Mexico Educational Retirement Board now owns 6,250 shares of the transportation company’s stock worth $931,000 after acquiring an additional 100 shares during the period. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Expeditors International of Washington Stock Up 0.2%

EXPD opened at $160.41 on Friday. Expeditors International of Washington, Inc. has a twelve month low of $110.48 and a twelve month high of $167.19. The company has a 50-day moving average price of $151.33 and a 200 day moving average price of $151.20. The company has a market cap of $20.98 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 5.00 and a beta of 1.05.

Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings results on Tuesday, May 5th. The transportation company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.38. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. During the same quarter in the prior year, the firm posted $1.47 earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts expect that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

Expeditors International of Washington Announces Dividend

The business also recently declared a dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.81 per share. This represents a dividend yield of 101.0%. The ex-dividend date is Monday, June 1st. Expeditors International of Washington’s dividend payout ratio is 26.21%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Zacks Research upgraded shares of Expeditors International of Washington from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Susquehanna upped their price objective on shares of Expeditors International of Washington from $142.00 to $156.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. upped their price objective on shares of Expeditors International of Washington from $135.00 to $139.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 6th. Wolfe Research upgraded shares of Expeditors International of Washington from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Truist Financial decreased their price objective on shares of Expeditors International of Washington from $160.00 to $140.00 and set a “hold” rating for the company in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $137.30.

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.