Expeditors International of Washington (NASDAQ:EXPD) Hits New 12-Month Low – Here’s What Happened

Expeditors International of Washington, Inc. (NASDAQ:EXPD) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $109.26 and last traded at $109.46, with a volume of 741022 shares changing hands. The stock had previously closed at $112.89.

Analysts Set New Price Targets

Several research firms have commented on EXPD. Wolfe Research lowered Expeditors International of Washington from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 9th. TD Cowen lifted their target price on shares of Expeditors International of Washington from $106.00 to $108.00 and gave the company a “sell” rating in a report on Wednesday, November 6th. Finally, Barclays upped their price target on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Four investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Expeditors International of Washington presently has a consensus rating of “Hold” and an average price target of $118.44.

Expeditors International of Washington Trading Down 3.5 %

The company has a market capitalization of $15.25 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 3.36 and a beta of 0.99. The firm’s 50 day simple moving average is $117.00 and its 200-day simple moving average is $120.41.

Expeditors International of Washington (NASDAQ:EXPD) last posted its quarterly earnings results on Tuesday, November 5th. The transportation company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.30. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Expeditors International of Washington had a net margin of 7.39% and a return on equity of 32.12%. The firm’s revenue for the quarter was up 37.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.16 earnings per share. As a group, sell-side analysts forecast that Expeditors International of Washington, Inc. will post 5.43 EPS for the current fiscal year.

Expeditors International of Washington Announces Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.73 dividend. This represents a yield of 1.2%. The ex-dividend date of this dividend was Monday, December 2nd. Expeditors International of Washington’s dividend payout ratio (DPR) is 28.46%.

Insider Activity

In related news, Director Robert Paul Carlile sold 3,000 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $121.11, for a total transaction of $363,330.00. Following the transaction, the director now directly owns 9,662 shares in the company, valued at approximately $1,170,164.82. This represents a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Expeditors International of Washington

Large investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in Expeditors International of Washington by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 833,610 shares of the transportation company’s stock valued at $109,536,000 after buying an additional 51,265 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Expeditors International of Washington during the 3rd quarter valued at $4,363,000. Franklin Resources Inc. boosted its position in Expeditors International of Washington by 18.9% during the 3rd quarter. Franklin Resources Inc. now owns 193,486 shares of the transportation company’s stock worth $23,623,000 after purchasing an additional 30,785 shares during the period. Pensionfund Sabic acquired a new stake in Expeditors International of Washington in the 4th quarter valued at $1,329,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Expeditors International of Washington by 58.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 27,561 shares of the transportation company’s stock valued at $3,439,000 after purchasing an additional 10,202 shares during the period. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

Expeditors International of Washington Company Profile

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services worldwide. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, import, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other supply chain solutions.