Confluence Investment Management LLC Sells 1,717 Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Confluence Investment Management LLC reduced its position in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 189,653 shares of the transportation company’s stock after selling 1,717 shares during the period. Confluence Investment Management LLC’s holdings in Expeditors International of Washington were worth $21,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Concurrent Investment Advisors LLC raised its stake in Expeditors International of Washington by 28.6% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 2,841 shares of the transportation company’s stock valued at $355,000 after acquiring an additional 632 shares during the period. Deseret Mutual Benefit Administrators lifted its stake in shares of Expeditors International of Washington by 31.5% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 1,557 shares of the transportation company’s stock valued at $194,000 after buying an additional 373 shares in the last quarter. National Bank of Canada FI boosted its holdings in Expeditors International of Washington by 15.4% in the 2nd quarter. National Bank of Canada FI now owns 50,154 shares of the transportation company’s stock worth $6,059,000 after buying an additional 6,700 shares during the period. Victory Capital Management Inc. grew its stake in Expeditors International of Washington by 13.5% in the 2nd quarter. Victory Capital Management Inc. now owns 311,298 shares of the transportation company’s stock valued at $38,847,000 after buying an additional 36,907 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its holdings in Expeditors International of Washington by 23.5% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 122,472 shares of the transportation company’s stock valued at $15,283,000 after acquiring an additional 23,286 shares during the period. 94.02% of the stock is currently owned by institutional investors.

Expeditors International of Washington Trading Down 0.3 %

Shares of NASDAQ EXPD traded down $0.34 during midday trading on Thursday, hitting $110.43. 112,104 shares of the company’s stock were exchanged, compared to its average volume of 1,193,715. The business’s fifty day moving average price is $118.17 and its two-hundred day moving average price is $121.12. The company has a market cap of $15.46 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 3.42 and a beta of 0.97. Expeditors International of Washington, Inc. has a 12-month low of $109.43 and a 12-month high of $131.59.

Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings results on Tuesday, November 5th. The transportation company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.30. The business 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 business’s quarterly revenue was up 37.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.16 EPS. Equities analysts expect that Expeditors International of Washington, Inc. will post 5.43 earnings per share for the current fiscal year.

Expeditors International of Washington Dividend Announcement

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

Insider Activity at Expeditors International of Washington

In other news, Director Robert Paul Carlile sold 3,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $121.11, for a total value of $363,330.00. Following the completion of the sale, the director now owns 9,662 shares of the company’s stock, valued at approximately $1,170,164.82. This represents a 23.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.69% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on EXPD shares. TD Cowen raised their price target on Expeditors International of Washington from $106.00 to $108.00 and gave the stock a “sell” rating in a report on Wednesday, November 6th. Barclays lifted their target price on Expeditors International of Washington from $105.00 to $110.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. Finally, Wolfe Research downgraded shares of Expeditors International of Washington from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $118.44.

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.