Handelsbanken Fonder AB Sells 63,952 Shares of Expeditors International of Washington, Inc. $EXPD

Handelsbanken Fonder AB cut its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 58.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 46,100 shares of the transportation company’s stock after selling 63,952 shares during the period. Handelsbanken Fonder AB’s holdings in Expeditors International of Washington were worth $6,869,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its stake in shares of Expeditors International of Washington by 6.7% in the third quarter. Envestnet Asset Management Inc. now owns 993,697 shares of the transportation company’s stock worth $121,817,000 after acquiring an additional 62,500 shares during the period. Allianz Asset Management GmbH grew its stake in shares of Expeditors International of Washington by 14.0% in the third quarter. Allianz Asset Management GmbH now owns 565,430 shares of the transportation company’s stock worth $69,316,000 after acquiring an additional 69,290 shares during the period. Picton Mahoney Asset Management bought a new stake in shares of Expeditors International of Washington in the third quarter worth approximately $1,041,000. Exchange Traded Concepts LLC grew its stake in shares of Expeditors International of Washington by 40.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 72,528 shares of the transportation company’s stock worth $10,807,000 after acquiring an additional 20,755 shares during the period. Finally, Clifford Swan Investment Counsel LLC boosted its holdings in shares of Expeditors International of Washington by 12.7% in the third quarter. Clifford Swan Investment Counsel LLC now owns 80,232 shares of the transportation company’s stock worth $9,836,000 after buying an additional 9,019 shares during the last quarter. 94.02% of the stock is currently owned by institutional investors.

Expeditors International of Washington Price Performance

Shares of NASDAQ:EXPD opened at $158.52 on Friday. Expeditors International of Washington, Inc. has a 1-year low of $109.90 and a 1-year high of $167.19. The company has a market capitalization of $20.73 billion, a P/E ratio of 27.71, a P/E/G ratio of 5.00 and a beta of 1.04. The firm’s 50 day simple moving average is $148.09 and its two-hundred day simple moving average is $149.59.

Expeditors International of Washington (NASDAQ:EXPD) last issued its quarterly earnings results on Tuesday, May 5th. The transportation company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.38. Expeditors International of Washington had a net margin of 7.64% and a return on equity of 36.16%. During the same quarter in the prior year, the company earned $1.47 EPS. Expeditors International of Washington’s revenue was up 4.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current fiscal year.

Expeditors International of Washington Announces Dividend

The company also recently declared a dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.81 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a yield of 106.0%. Expeditors International of Washington’s payout ratio is currently 26.21%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Expeditors International of Washington from $135.00 to $139.00 and gave the stock an “underweight” rating in a report on Wednesday, May 6th. Susquehanna raised their price objective on shares of Expeditors International of Washington from $142.00 to $156.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Zacks Research raised shares of Expeditors International of Washington from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Truist Financial dropped their price objective on shares of Expeditors International of Washington from $160.00 to $140.00 and set a “hold” rating on the stock in a report on Wednesday, February 25th. Finally, UBS Group raised their price objective on shares of Expeditors International of Washington from $166.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $137.30.

Expeditors International of Washington Profile

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.