Comerica Bank lessened its stake in shares of Expeditors International (NASDAQ:EXPD) by 34.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,706 shares of the transportation company’s stock after selling 27,373 shares during the quarter. Comerica Bank’s holdings in Expeditors International were worth $3,392,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Old Mutual Global Investors UK Ltd. acquired a new stake in Expeditors International during the 4th quarter valued at $103,000. Icon Wealth Partners LLC acquired a new stake in shares of Expeditors International during the fourth quarter worth $106,000. Pinebridge Investments L.P. acquired a new stake in shares of Expeditors International during the fourth quarter worth $137,000. DF Dent & Co. Inc. acquired a new stake in shares of Expeditors International during the fourth quarter worth $203,000. Finally, Brown Advisory Securities LLC acquired a new stake in shares of Expeditors International during the fourth quarter worth $205,000. Hedge funds and other institutional investors own 92.49% of the company’s stock.
In related news, insider Richard H. Rostan sold 4,500 shares of Expeditors International stock in a transaction on Friday, March 9th. The stock was sold at an average price of $64.65, for a total value of $290,925.00. Following the transaction, the insider now owns 56,290 shares in the company, valued at $3,639,148.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher J. Mcclincy sold 2,781 shares of Expeditors International stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $64.81, for a total value of $180,236.61. Following the completion of the transaction, the vice president now owns 16,500 shares in the company, valued at approximately $1,069,365. The disclosure for this sale can be found here. Insiders sold 36,850 shares of company stock worth $2,460,034 in the last quarter. 0.99% of the stock is owned by insiders.
EXPD has been the topic of several analyst reports. ValuEngine upgraded Expeditors International from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Zacks Investment Research upgraded Expeditors International from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Tuesday, April 24th. Stifel Nicolaus raised their price objective on Expeditors International from $65.00 to $72.00 and gave the stock a “hold” rating in a report on Wednesday, May 9th. Cowen raised their price objective on Expeditors International from $65.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, May 9th. Finally, Credit Suisse Group restated an “underperform” rating and set a $61.00 price objective (down previously from $63.00) on shares of Expeditors International in a report on Wednesday, February 21st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Expeditors International currently has an average rating of “Hold” and a consensus target price of $65.63.
Shares of Expeditors International stock opened at $72.19 on Friday. Expeditors International has a twelve month low of $51.96 and a twelve month high of $73.05. The firm has a market capitalization of $12.61 billion, a P/E ratio of 26.44, a PEG ratio of 2.94 and a beta of 0.70.
Expeditors International (NASDAQ:EXPD) last issued its earnings results on Tuesday, May 8th. The transportation company reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.11. Expeditors International had a return on equity of 24.84% and a net margin of 7.36%. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the firm earned $0.51 earnings per share. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. equities analysts forecast that Expeditors International will post 3.07 EPS for the current fiscal year.
The company also recently announced a Semi-Annual dividend, which will be paid on Friday, June 15th. Investors of record on Friday, June 1st will be issued a $0.45 dividend. The ex-dividend date is Thursday, May 31st. This represents a yield of 1.26%. This is a boost from Expeditors International’s previous Semi-Annual dividend of $0.42. Expeditors International’s dividend payout ratio (DPR) is presently 33.87%.
Expeditors International Company Profile
Expeditors International of Washington, Inc provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, such as ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, cargo insurance, cargo monitoring and tracking, and other logistics solutions.
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