Expeditors International of Washington, Inc. (NASDAQ:EXPD) Shares Sold by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Key Points

• Empirical Financial Services LLC significantly reduced its stake in Expeditors International of Washington by 90.1%, now holding 2,882 shares valued at approximately $347,000.
• Expeditors International of Washington recently announced a dividend increase to $0.77 per share, yielding 140.0%, with a payout ratio of 25.58%.
• The stock price of Expeditors International of Washington is down 1.3%, with a current value around $114.74 and an average target price of $113.89 from analysts.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management decreased its holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 90.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,882 shares of the transportation company's stock after selling 26,141 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Expeditors International of Washington were worth $347,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Natixis Advisors LLC grew its holdings in shares of Expeditors International of Washington by 11.1% during the first quarter. Natixis Advisors LLC now owns 563,381 shares of the transportation company's stock worth $67,747,000 after purchasing an additional 56,431 shares in the last quarter. Mesirow Financial Investment Management Inc. bought a new stake in shares of Expeditors International of Washington in the 1st quarter worth approximately $235,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Expeditors International of Washington during the first quarter valued at about $85,000. Banque Cantonale Vaudoise purchased a new position in shares of Expeditors International of Washington in the 1st quarter valued at approximately $1,414,000. Finally, Federated Hermes Inc. grew its position in shares of Expeditors International of Washington by 35.3% in the 1st quarter. Federated Hermes Inc. now owns 12,285 shares of the transportation company's stock worth $1,477,000 after buying an additional 3,203 shares during the period. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on EXPD shares. JPMorgan Chase & Co. increased their target price on Expeditors International of Washington from $105.00 to $107.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 8th. Barclays reduced their price target on 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. Bank of America downgraded shares of Expeditors International of Washington from a "neutral" rating to an "underperform" rating and lifted their price target for the company from $117.00 to $118.00 in a report on Friday, July 11th. Truist Financial increased their price target on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the company a "hold" rating in a report on Monday, June 30th. Finally, TD Cowen cut their price target on shares of Expeditors International of Washington from $112.00 to $107.00 and set a "sell" rating on the stock in a report on Wednesday, May 7th. Five research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $114.22.

Expeditors International of Washington Trading Down 0.7%

Shares of EXPD traded down $0.77 during trading hours on Thursday, hitting $117.96. The company had a trading volume of 1,121,886 shares, compared to its average volume of 1,386,093. Expeditors International of Washington, Inc. has a one year low of $100.47 and a one year high of $131.59. The company has a market capitalization of $16.15 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 5.00 and a beta of 1.05. The company's fifty day moving average price is $114.70 and its two-hundred day moving average price is $113.95.

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.