Bridgewater Associates LP Cuts Stake in Expeditors International of Washington (EXPD)

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Bridgewater Associates LP decreased its holdings in Expeditors International of Washington (NASDAQ:EXPD) by 39.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,986 shares of the transportation company’s stock after selling 1,952 shares during the period. Bridgewater Associates LP’s holdings in Expeditors International of Washington were worth $220,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. GAM Holding AG boosted its position in Expeditors International of Washington by 9.4% during the 3rd quarter. GAM Holding AG now owns 48,395 shares of the transportation company’s stock valued at $3,559,000 after buying an additional 4,167 shares during the period. Allianz Asset Management GmbH boosted its position in Expeditors International of Washington by 2,386.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 73,038 shares of the transportation company’s stock valued at $5,371,000 after buying an additional 70,100 shares during the period. Ancora Advisors LLC boosted its position in Expeditors International of Washington by 3.3% during the 3rd quarter. Ancora Advisors LLC now owns 30,039 shares of the transportation company’s stock valued at $2,209,000 after buying an additional 969 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Expeditors International of Washington by 80.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,479 shares of the transportation company’s stock valued at $4,300,000 after buying an additional 26,003 shares during the period. Finally, Standard Life Aberdeen plc boosted its position in Expeditors International of Washington by 8.8% during the 3rd quarter. Standard Life Aberdeen plc now owns 55,947 shares of the transportation company’s stock valued at $4,114,000 after buying an additional 4,505 shares during the period. 93.58% of the stock is owned by institutional investors.

NASDAQ:EXPD opened at $70.57 on Friday. Expeditors International of Washington has a 12 month low of $59.10 and a 12 month high of $78.16. The stock has a market capitalization of $13.04 billion, a PE ratio of 28.46, a P/E/G ratio of 2.92 and a beta of 0.79.

Expeditors International of Washington (NASDAQ:EXPD) last posted its earnings results on Tuesday, November 6th. The transportation company reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.14. Expeditors International of Washington had a net margin of 7.76% and a return on equity of 28.98%. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the company posted $0.66 EPS. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, research analysts predict that Expeditors International of Washington will post 3.24 earnings per share for the current year.

The business also recently announced a semiannual dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be given a $0.45 dividend. This represents a dividend yield of 1.23%. This is a boost from Expeditors International of Washington’s previous semiannual dividend of $0.42. The ex-dividend date is Friday, November 30th. Expeditors International of Washington’s dividend payout ratio (DPR) is currently 36.29%.

Several research firms have recently commented on EXPD. Goldman Sachs Group cut shares of Expeditors International of Washington from a “neutral” rating to a “sell” rating and set a $68.00 target price for the company. in a research report on Friday. BidaskClub raised shares of Expeditors International of Washington from a “hold” rating to a “buy” rating in a research report on Tuesday, November 27th. Zacks Investment Research raised shares of Expeditors International of Washington from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Tuesday, November 13th. Finally, Deutsche Bank set a $72.00 target price on shares of Expeditors International of Washington and gave the stock a “hold” rating in a research report on Thursday, September 27th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $69.40.

In related news, VP Christopher J. Mcclincy sold 2,371 shares of the stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $73.67, for a total value of $174,671.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey S. Musser sold 30,000 shares of the stock in a transaction dated Friday, November 30th. The stock was sold at an average price of $75.95, for a total transaction of $2,278,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,371 shares of company stock valued at $2,820,772. 0.99% of the stock is owned by company insiders.

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Expeditors International of Washington 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.

Further Reading: What is a Swap?

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

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