Expeditors International of Washington, Inc. $EXPD Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group reduced its stake in Expeditors International of Washington by 6.5% in the first quarter, selling 23,704 shares and ending with 341,956 shares valued at about $49 million.
• The company reported strong quarterly results, with earnings of $1.71 per share beating estimates of $1.33 and revenue rising 4.4% year over year. Analysts now expect full-year EPS of about $5.39.
• Wall Street remains divided on the stock: the average analyst rating is Hold, with a consensus price target of $142.22, even as some firms recently raised their targets and a few upgraded the shares.

Sumitomo Mitsui Trust Group Inc. lessened its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 341,956 shares of the transportation company's stock after selling 23,704 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.26% of Expeditors International of Washington worth $48,978,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in EXPD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Expeditors International of Washington by 4.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,168 shares of the transportation company's stock valued at $1,944,000 after purchasing an additional 623 shares during the period. Jones Financial Companies Lllp increased its position in shares of Expeditors International of Washington by 75.4% during the 1st quarter. Jones Financial Companies Lllp now owns 2,324 shares of the transportation company's stock worth $279,000 after purchasing an additional 999 shares during the last quarter. Woodline Partners LP increased its position in shares of Expeditors International of Washington by 40.7% during the 1st quarter. Woodline Partners LP now owns 11,826 shares of the transportation company's stock worth $1,422,000 after purchasing an additional 3,420 shares during the last quarter. Focus Partners Wealth raised its holdings in Expeditors International of Washington by 33.9% in the 1st quarter. Focus Partners Wealth now owns 5,227 shares of the transportation company's stock valued at $628,000 after buying an additional 1,324 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Expeditors International of Washington by 29.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,113 shares of the transportation company's stock valued at $127,000 after buying an additional 255 shares during the period. 94.02% of the stock is currently owned by institutional investors and hedge funds.

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Expeditors International of Washington Stock Down 0.1%

Expeditors International of Washington stock opened at $171.92 on Monday. The firm has a market cap of $22.49 billion, a PE ratio of 30.06, a price-to-earnings-growth ratio of 5.00 and a beta of 1.04. Expeditors International of Washington, Inc. has a 52-week low of $110.48 and a 52-week high of $172.18. The company's 50 day moving average is $160.57 and its two-hundred day moving average is $154.16.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The transportation company reported $1.71 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 previous year, the firm posted $1.47 earnings per share. Expeditors International of Washington's quarterly revenue was up 4.4% on a year-over-year basis. On average, equities research analysts anticipate that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current fiscal year.

Expeditors International of Washington Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Barclays increased their target price on shares of Expeditors International of Washington from $135.00 to $150.00 and gave the stock an "underweight" rating in a research note on Thursday, June 25th. UBS Group upped their price objective on shares of Expeditors International of Washington from $175.00 to $191.00 and gave the stock a "buy" rating in a report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Expeditors International of Washington from $135.00 to $139.00 and gave the stock an "underweight" rating in a research report on Wednesday, May 6th. Stephens raised Expeditors International of Washington to a "strong-buy" rating in a research report on Wednesday, July 8th. 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, four have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $142.22.

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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