Expeditors International of Washington, Inc. $EXPD Shares Sold by Geode Capital Management LLC

Key Points

• Geode Capital Management trimmed its stake in Expeditors International by 0.3% in the fourth quarter, but still held 3.49 million shares worth about $517.7 million at quarter-end.
• The company’s latest earnings beat expectations, with EPS of $1.71 versus the $1.33 consensus estimate, while revenue rose 4.4% year over year.
• Analysts remain mixed on EXPD: the stock has a consensus rating of Hold and an average price target of $137.30, even after some recent target increases and upgrades.

Geode Capital Management LLC lowered its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,488,126 shares of the transportation company's stock after selling 11,561 shares during the period. Geode Capital Management LLC owned 2.60% of Expeditors International of Washington worth $517,725,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of EXPD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Expeditors International of Washington by 733.9% during the third 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 worth $231,432,000 after purchasing an additional 1,661,457 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Expeditors International of Washington during the third quarter worth $113,194,000. Wellington Management Group LLP grew its stake in shares of Expeditors International of Washington by 64.1% during the third quarter. Wellington Management Group LLP now owns 1,920,927 shares of the transportation company's stock worth $235,486,000 after purchasing an additional 749,993 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in shares of Expeditors International of Washington during the fourth quarter worth $65,957,000. Finally, Caisse de depot et placement du Quebec grew its stake in shares of Expeditors International of Washington by 59.4% during the third quarter. Caisse de depot et placement du Quebec now owns 1,070,975 shares of the transportation company's stock worth $131,291,000 after purchasing an additional 399,250 shares in the last quarter. Institutional investors and hedge funds own 94.02% of the company's stock.

Expeditors International of Washington Price Performance

NASDAQ EXPD opened at $158.44 on Monday. Expeditors International of Washington, Inc. has a 1 year low of $109.90 and a 1 year high of $167.19. The company has a market capitalization of $20.72 billion, a PE ratio of 27.70, a P/E/G ratio of 5.00 and a beta of 1.04. The company has a fifty day moving average of $149.77 and a two-hundred day moving average of $150.57.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last released 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%. During the same period in the prior year, the firm earned $1.47 earnings per share. The firm's revenue was up 4.4% on a year-over-year basis. On average, research analysts expect that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current year.

Expeditors International of Washington Announces Dividend

The firm also recently announced a dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.81 dividend. This represents a dividend yield of 102.0%. The ex-dividend date of this dividend is Monday, June 1st. Expeditors International of Washington's dividend payout ratio is presently 26.21%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on EXPD shares. UBS Group upped their price objective on shares of Expeditors International of Washington from $166.00 to $175.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Zacks Research upgraded shares of Expeditors International of Washington from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. upped their price objective on shares of Expeditors International of Washington from $135.00 to $139.00 and gave the company an "underweight" rating in a research note on Wednesday, May 6th. Susquehanna upped their price objective on shares of Expeditors International of Washington from $142.00 to $156.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Finally, Wolfe Research upgraded shares of Expeditors International of Washington from a "strong sell" rating to a "hold" rating in a research note on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $137.30.

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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