Bank of New York Mellon Corp Trims Position in Expeditors International of Washington, Inc. $EXPD

Key Points

• Bank of New York Mellon cut its stake in Expeditors International of Washington by 14.6% in the fourth quarter, though it still held 705,915 shares worth about $105.2 million at the end of the period.
• Institutional ownership remains very high, with several other hedge funds increasing or adjusting positions and 94.02% of the stock owned by institutions and hedge funds.
• Expeditors reported better-than-expected quarterly earnings of $1.71 per share, ahead of estimates, while revenue rose 4.4% year over year; analysts currently rate the stock a consensus Hold with an average target price of $137.30.

Bank of New York Mellon Corp trimmed its holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 14.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 705,915 shares of the transportation company's stock after selling 120,550 shares during the quarter. Bank of New York Mellon Corp owned 0.53% of Expeditors International of Washington worth $105,189,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of Expeditors International of Washington by 5.2% in the 3rd quarter. State Street Corp now owns 7,708,656 shares of the transportation company's stock valued at $945,004,000 after purchasing an additional 377,703 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of Expeditors International of Washington by 0.5% during the 4th quarter. First Eagle Investment Management LLC now owns 6,312,305 shares of the transportation company's stock valued at $940,597,000 after buying an additional 32,063 shares in the last quarter. Marshfield Associates lifted its position in shares of Expeditors International of Washington by 4.6% during the 3rd quarter. Marshfield Associates now owns 1,942,740 shares of the transportation company's stock valued at $238,161,000 after buying an additional 86,182 shares in the last quarter. Wellington Management Group LLP grew its stake in Expeditors International of Washington by 64.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,920,927 shares of the transportation company's stock valued at $235,486,000 after acquiring an additional 749,993 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Expeditors International of Washington by 733.9% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,887,853 shares of the transportation company's stock valued at $231,432,000 after acquiring an additional 1,661,457 shares during the period. 94.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on EXPD shares. Wolfe Research raised shares of Expeditors International of Washington from a "strong sell" rating to a "hold" rating in a research note on Monday, March 9th. Truist Financial decreased their price target on shares of Expeditors International of Washington from $160.00 to $140.00 and set a "hold" rating on the stock in a research note on Wednesday, February 25th. JPMorgan Chase & Co. lifted their price objective on Expeditors International of Washington from $135.00 to $139.00 and gave the stock an "underweight" rating in a report on Wednesday, May 6th. Zacks Research upgraded Expeditors International of Washington from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Finally, UBS Group increased their target price on Expeditors International of Washington from $166.00 to $175.00 and gave the company 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 assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $137.30.

Expeditors International of Washington Stock Performance

EXPD stock opened at $160.41 on Monday. Expeditors International of Washington, Inc. has a one year low of $110.48 and a one year high of $167.19. The firm has a market cap of $20.98 billion, a PE ratio of 28.04, a PEG ratio of 5.00 and a beta of 1.05. The firm's 50 day moving average price is $151.33 and its 200-day moving average price is $151.26.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The transportation company reported $1.71 earnings per share for the quarter, beating analysts' consensus estimates 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 company's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.47 earnings per share. Equities research analysts predict that Expeditors International of Washington, Inc. will post 5.39 EPS for the current fiscal year.

Expeditors International of Washington Dividend Announcement

The company also recently announced a dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.81 per share. This represents a yield of 101.0%. The ex-dividend date is Monday, June 1st. Expeditors International of Washington's dividend payout ratio (DPR) is 26.21%.

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.

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