Cresset Asset Management LLC Lowers Stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Cresset Asset Management LLC lowered its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 23.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,834 shares of the transportation company's stock after selling 13,099 shares during the period. Cresset Asset Management LLC's holdings in Expeditors International of Washington were worth $4,634,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of EXPD. Coppell Advisory Solutions LLC bought a new stake in shares of Expeditors International of Washington in the 4th quarter valued at approximately $25,000. SRS Capital Advisors Inc. raised its holdings in Expeditors International of Washington by 431.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 234 shares of the transportation company's stock worth $26,000 after buying an additional 190 shares during the period. Bank of Jackson Hole Trust acquired a new position in Expeditors International of Washington during the fourth quarter valued at $39,000. Parvin Asset Management LLC acquired a new position in Expeditors International of Washington in the 4th quarter valued at approximately $42,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Expeditors International of Washington during the 4th quarter valued at about $52,000. Hedge funds and other institutional investors own 94.02% of the company's stock.

Insider Activity

In related news, VP Jeffrey F. Dickerman sold 1,250 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $117.54, for a total transaction of $146,925.00. Following the transaction, the vice president now directly owns 7,296 shares of the company's stock, valued at $857,571.84. This represents a 14.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Barclays cut their target price on shares of Expeditors International of Washington from $110.00 to $105.00 and set an "underweight" rating for the company in a research report on Wednesday, May 7th. Susquehanna raised their target price on Expeditors International of Washington from $115.00 to $120.00 and gave the company a "neutral" rating in a research note on Monday, March 3rd. Bank of America reduced their target price on shares of Expeditors International of Washington from $129.00 to $120.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. TD Cowen decreased their price target on shares of Expeditors International of Washington from $112.00 to $107.00 and set a "sell" rating for the company in a report on Wednesday, May 7th. Finally, UBS Group cut their price target on Expeditors International of Washington from $128.00 to $117.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $113.70.

Expeditors International of Washington Stock Up 6.5%

Shares of Expeditors International of Washington stock traded up $7.06 on Monday, hitting $116.16. The stock had a trading volume of 1,809,341 shares, compared to its average volume of 1,273,722. The business's 50 day moving average is $112.78 and its two-hundred day moving average is $114.81. Expeditors International of Washington, Inc. has a twelve month low of $100.47 and a twelve month high of $131.59. The stock has a market cap of $16.00 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 5.00 and a beta of 1.09.

Expeditors International of Washington Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.77 per share. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, June 2nd. This is an increase from Expeditors International of Washington's previous semi-annual dividend of $0.73. Expeditors International of Washington's dividend payout ratio is 25.58%.

Expeditors International of Washington 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.