Baker Tilly Wealth Management LLC Sells 1,594 Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Baker Tilly Wealth Management LLC lowered its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 34.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,044 shares of the transportation company’s stock after selling 1,594 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Expeditors International of Washington were worth $380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXPD. TruNorth Capital Management LLC bought a new position in Expeditors International of Washington during the second quarter valued at about $64,000. Assenagon Asset Management S.A. grew its position in shares of Expeditors International of Washington by 62.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 182,816 shares of the transportation company’s stock valued at $22,814,000 after acquiring an additional 70,329 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of Expeditors International of Washington by 16.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,174 shares of the transportation company’s stock worth $396,000 after purchasing an additional 447 shares during the last quarter. ORG Partners LLC lifted its position in shares of Expeditors International of Washington by 510.8% during the 2nd quarter. ORG Partners LLC now owns 2,602 shares of the transportation company’s stock valued at $315,000 after buying an additional 2,176 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Expeditors International of Washington by 136.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 89,790 shares of the transportation company’s stock worth $11,205,000 after acquiring an additional 51,794 shares during the period. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Bank of America boosted their price objective on Expeditors International of Washington from $131.00 to $132.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. UBS Group upgraded shares of Expeditors International of Washington from a “sell” rating to a “neutral” rating and upped their price target for the company from $95.00 to $137.00 in a research note on Thursday, August 1st. Benchmark reiterated a “hold” rating on shares of Expeditors International of Washington in a research note on Wednesday, August 7th. TD Cowen boosted their target price on shares of Expeditors International of Washington from $111.00 to $112.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Finally, Wolfe Research upgraded Expeditors International of Washington from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, May 28th. Two investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $116.00.

Expeditors International of Washington Price Performance

NASDAQ EXPD traded up $0.62 during trading on Friday, reaching $120.06. The company’s stock had a trading volume of 994,947 shares, compared to its average volume of 1,293,208. The stock has a market capitalization of $16.96 billion, a PE ratio of 25.44, a P/E/G ratio of 5.39 and a beta of 0.98. The firm has a fifty day moving average of $122.64 and a 200 day moving average of $120.59. Expeditors International of Washington, Inc. has a one year low of $107.03 and a one year high of $131.17.

Expeditors International of Washington (NASDAQ:EXPD) last announced its earnings results on Tuesday, August 6th. The transportation company reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.02). Expeditors International of Washington had a net margin of 7.81% and a return on equity of 28.89%. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the prior year, the business earned $1.30 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. Research analysts expect that Expeditors International of Washington, Inc. will post 4.99 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Mark A. Emmert sold 8,100 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $123.67, for a total value of $1,001,727.00. Following the completion of the transaction, the director now directly owns 14,085 shares in the company, valued at $1,741,891.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.69% of the company’s stock.

About Expeditors International of Washington

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.