Expeditors International of Washington (NASDAQ:EXPD) Position Cut by Rhumbline Advisers

Rhumbline Advisers lessened its position in Expeditors International of Washington (NASDAQ:EXPD) by 2.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 423,275 shares of the transportation company’s stock after selling 11,011 shares during the period. Rhumbline Advisers owned approximately 0.24% of Expeditors International of Washington worth $27,382,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Expeditors International of Washington by 15.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,407 shares of the transportation company’s stock valued at $997,000 after purchasing an additional 2,116 shares during the period. Pinebridge Investments L.P. acquired a new stake in shares of Expeditors International of Washington in the fourth quarter valued at about $137,000. Squar Milner Financial Services LLC acquired a new stake in shares of Expeditors International of Washington in the fourth quarter valued at about $308,000. Advisory Services Network LLC lifted its stake in shares of Expeditors International of Washington by 4,613.3% in the fourth quarter. Advisory Services Network LLC now owns 8,484 shares of the transportation company’s stock valued at $549,000 after purchasing an additional 8,304 shares during the period. Finally, Toronto Dominion Bank lifted its stake in shares of Expeditors International of Washington by 11.9% in the fourth quarter. Toronto Dominion Bank now owns 76,725 shares of the transportation company’s stock valued at $4,964,000 after purchasing an additional 8,189 shares during the period. Hedge funds and other institutional investors own 91.64% of the company’s stock.

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In related news, insider Philip M. Coughlin sold 12,103 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $65.01, for a total value of $786,816.03. Following the completion of the sale, the insider now directly owns 16,153 shares in the company, valued at $1,050,106.53. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Christopher J. Mcclincy sold 2,781 shares of the business’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $64.81, for a total transaction of $180,236.61. Following the completion of the sale, the vice president now owns 16,500 shares of the company’s stock, valued at $1,069,365. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,457 shares of company stock valued at $1,784,235. Insiders own 0.78% of the company’s stock.

EXPD has been the subject of several recent analyst reports. BidaskClub cut shares of Expeditors International of Washington from a “sell” rating to a “strong sell” rating in a research note on Saturday, January 6th. Barclays restated a “buy” rating and set a $70.00 target price on shares of Expeditors International of Washington in a research report on Tuesday, January 9th. Credit Suisse Group lifted their target price on shares of Expeditors International of Washington from $56.00 to $63.00 and gave the stock an “underperform” rating in a research report on Tuesday, January 16th. Stifel Nicolaus restated a “hold” rating and set a $68.00 target price on shares of Expeditors International of Washington in a research report on Thursday, January 18th. Finally, Zacks Investment Research upgraded shares of Expeditors International of Washington from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research report on Friday, January 19th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $63.11.

Shares of Expeditors International of Washington (EXPD) opened at $64.08 on Friday. The company has a market cap of $11,281.01, a PE ratio of 23.73, a PEG ratio of 2.77 and a beta of 0.62. Expeditors International of Washington has a twelve month low of $51.96 and a twelve month high of $67.63.

Expeditors International of Washington (NASDAQ:EXPD) last issued its quarterly earnings results on Tuesday, February 20th. The transportation company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.79 billion. Expeditors International of Washington had a net margin of 7.07% and a return on equity of 22.79%. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 earnings per share. analysts expect that Expeditors International of Washington will post 2.88 EPS for the current fiscal year.

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About Expeditors International of Washington

Expeditors International of Washington, Inc is a logistics company. The Company is a third-party logistics provider, and purchases cargo space from carriers, including airlines and ocean shipping lines on a volume basis and resells that space to its customers. The Company provides a range of customer solutions, such as order management, time-definite transportation, warehousing and distribution, temperature-controlled transit, cargo insurance and customized logistics solutions.

Institutional Ownership by Quarter for Expeditors International of Washington (NASDAQ:EXPD)

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