Convergence Investment Partners LLC Takes Position in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Convergence Investment Partners LLC bought a new position in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,380 shares of the transportation company's stock, valued at approximately $406,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of Expeditors International of Washington by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 3,392,307 shares of the transportation company's stock worth $374,771,000 after buying an additional 57,736 shares in the last quarter. First Trust Advisors LP boosted its holdings in Expeditors International of Washington by 33.8% in the fourth quarter. First Trust Advisors LP now owns 2,734,816 shares of the transportation company's stock worth $302,936,000 after acquiring an additional 690,539 shares in the last quarter. Invesco Ltd. boosted its holdings in Expeditors International of Washington by 10.6% in the fourth quarter. Invesco Ltd. now owns 2,463,431 shares of the transportation company's stock worth $272,874,000 after acquiring an additional 235,409 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Expeditors International of Washington by 1.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,428,914 shares of the transportation company's stock worth $269,051,000 after purchasing an additional 27,965 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Expeditors International of Washington by 19.7% in the fourth quarter. Northern Trust Corp now owns 2,288,437 shares of the transportation company's stock worth $253,490,000 after purchasing an additional 376,689 shares during the last quarter. Institutional investors own 94.02% of the company's stock.

Expeditors International of Washington Stock Performance

Shares of Expeditors International of Washington stock traded down $0.26 during trading hours on Friday, hitting $116.58. The company's stock had a trading volume of 912,467 shares, compared to its average volume of 1,371,896. Expeditors International of Washington, Inc. has a twelve month low of $100.47 and a twelve month high of $131.59. The firm has a fifty day moving average of $114.47 and a 200-day moving average of $113.72. The stock has a market cap of $15.97 billion, a price-to-earnings ratio of 20.38, a P/E/G ratio of 5.00 and a beta of 1.07.

Expeditors International of Washington Increases Dividend

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

Analysts Set New Price Targets

EXPD has been the subject of several research analyst reports. Barclays reduced their price objective on Expeditors International of Washington from $110.00 to $105.00 and set an "underweight" rating for the company in a research note on Wednesday, May 7th. UBS Group reduced their price target on Expeditors International of Washington from $128.00 to $117.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Robert W. Baird initiated coverage on Expeditors International of Washington in a report on Tuesday, July 1st. They issued a "neutral" rating and a $124.00 price objective on the stock. Baird R W upgraded Expeditors International of Washington to a "hold" rating in a research report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. boosted their price target on Expeditors International of Washington from $105.00 to $107.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 8th. Five equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, Expeditors International of Washington currently has an average rating of "Hold" and an average target price of $113.89.

Expeditors International of Washington Company 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.