Bank of New York Mellon Corp Reduces Stock Holdings in Expeditors International of Washington, Inc. $EXPD

Key Points

• Bank of New York Mellon trimmed its stake in Expeditors International of Washington by 3.8% in the first quarter, selling 26,712 shares. It still held 679,203 shares valued at about $97.3 million.
• Expeditors shares were down 3.1% in Tuesday trading, opening at $177.12. The stock has risen close to its 52-week high of $183.52, with a market value of $23.17 billion.
• The company reported strong quarterly results, with EPS of $1.71 beating estimates and revenue up 4.4% year over year. Analysts remain mixed overall, though recent upgrades pushed the consensus rating to Hold with an average price target of $148.56.

Bank of New York Mellon Corp decreased its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 679,203 shares of the transportation company's stock after selling 26,712 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.51% of Expeditors International of Washington worth $97,282,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in EXPD. Elyxium Wealth LLC acquired a new stake in shares of Expeditors International of Washington during the fourth quarter worth about $28,000. DV Equities LLC acquired a new position in Expeditors International of Washington in the 4th quarter valued at about $28,000. Nalls Sherbakoff Group LLC acquired a new position in Expeditors International of Washington in the 4th quarter valued at about $30,000. Bard Associates Inc. purchased a new stake in Expeditors International of Washington during the 4th quarter valued at approximately $32,000. Finally, Geneos Wealth Management Inc. raised its stake in Expeditors International of Washington by 132.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 230 shares of the transportation company's stock valued at $34,000 after acquiring an additional 131 shares during the last quarter. 94.02% of the stock is owned by institutional investors and hedge funds.

Expeditors International of Washington Trading Down 3.1%

Shares of EXPD stock opened at $177.12 on Tuesday. The company has a market capitalization of $23.17 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 5.00 and a beta of 1.04. The firm has a 50-day moving average price of $163.70 and a 200 day moving average price of $155.32. Expeditors International of Washington, Inc. has a twelve month low of $110.48 and a twelve month high of $183.52.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The transportation company reported $1.71 earnings per share (EPS) 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%. The firm's revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.47 EPS. As a group, research analysts predict that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

Expeditors International of Washington Dividend Announcement

The business also recently disclosed a dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a dividend of $0.81 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a dividend yield of 101.0%. Expeditors International of Washington's payout ratio is currently 26.21%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on EXPD shares. UBS Group boosted their target price on Expeditors International of Washington from $175.00 to $191.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Stephens raised Expeditors International of Washington to a "strong-buy" rating in a report on Wednesday, July 8th. Susquehanna raised their target price on shares of Expeditors International of Washington from $142.00 to $156.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Barclays raised their price objective on shares of Expeditors International of Washington from $135.00 to $150.00 and gave the company an "underweight" rating in a research report on Thursday, June 25th. Finally, Zacks Research upgraded Expeditors International of Washington from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $148.56.

Expeditors International of Washington Company 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.

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