Confluence Investment Management LLC Trims Stock Position in Expeditors International of Washington, Inc. $EXPD

Confluence Investment Management LLC trimmed its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 3.1% in the fourth quarter, Holdings Channel reports. The fund owned 171,675 shares of the transportation company’s stock after selling 5,405 shares during the period. Confluence Investment Management LLC’s holdings in Expeditors International of Washington were worth $25,581,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. State Street Corp raised its stake in shares of Expeditors International of Washington by 5.2% during the third quarter. State Street Corp now owns 7,708,656 shares of the transportation company’s stock worth $945,004,000 after purchasing an additional 377,703 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Expeditors International of Washington by 1.5% during the second quarter. Loomis Sayles & Co. L P now owns 5,744,971 shares of the transportation company’s stock worth $656,363,000 after purchasing an additional 83,366 shares during the period. First Trust Advisors LP grew its position in Expeditors International of Washington by 19.3% in the 2nd quarter. First Trust Advisors LP now owns 2,077,347 shares of the transportation company’s stock valued at $237,337,000 after buying an additional 335,578 shares during the last quarter. Marshfield Associates grew its position in Expeditors International of Washington by 4.6% in the 3rd quarter. Marshfield Associates now owns 1,942,740 shares of the transportation company’s stock valued at $238,161,000 after buying an additional 86,182 shares during the last quarter. Finally, Baird Financial Group Inc. increased its stake in Expeditors International of Washington by 5.0% in the 2nd quarter. Baird Financial Group Inc. now owns 1,937,324 shares of the transportation company’s stock valued at $221,339,000 after buying an additional 92,222 shares during the period. Institutional investors and hedge funds own 94.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on EXPD. Truist Financial reduced their target price on shares of Expeditors International of Washington from $160.00 to $140.00 and set a “hold” rating for the company in a research note on Wednesday, February 25th. JPMorgan Chase & Co. dropped their price target on shares of Expeditors International of Washington from $134.00 to $132.00 and set an “underweight” rating on the stock in a research note on Monday, January 12th. Morgan Stanley increased their price target on shares of Expeditors International of Washington from $90.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, December 8th. Barclays raised their price objective on shares of Expeditors International of Washington from $110.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, January 15th. Finally, Zacks Research lowered Expeditors International of Washington from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $134.30.

Expeditors International of Washington Trading Up 1.7%

EXPD stock opened at $147.10 on Friday. The company’s 50-day moving average price is $153.18 and its 200 day moving average price is $140.82. Expeditors International of Washington, Inc. has a 52 week low of $100.47 and a 52 week high of $167.19. The company has a market cap of $19.64 billion, a P/E ratio of 25.72, a P/E/G ratio of 5.00 and a beta of 1.15.

Expeditors International of Washington (NASDAQ:EXPD) last issued its earnings results on Tuesday, February 24th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.03. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. During the same period in the previous year, the firm earned $1.68 earnings per share. The business’s quarterly revenue was down 3.3% on a year-over-year basis. On average, equities research analysts expect that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

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.