Bank of New York Mellon Corp Sells 59,404 Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Bank of New York Mellon Corp lowered its holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 6.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 924,592 shares of the transportation company's stock after selling 59,404 shares during the quarter. Bank of New York Mellon Corp owned 0.67% of Expeditors International of Washington worth $111,182,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EXPD. Coppell Advisory Solutions LLC acquired a new position in Expeditors International of Washington in the fourth quarter valued at about $25,000. Alpine Bank Wealth Management acquired a new position in Expeditors International of Washington in the first quarter valued at about $26,000. Garde Capital Inc. acquired a new position in Expeditors International of Washington in the first quarter valued at about $37,000. Colonial Trust Co SC lifted its position in shares of Expeditors International of Washington by 58.6% during the fourth quarter. Colonial Trust Co SC now owns 352 shares of the transportation company's stock worth $39,000 after purchasing an additional 130 shares in the last quarter. Finally, Parvin Asset Management LLC acquired a new position in shares of Expeditors International of Washington during the fourth quarter worth approximately $42,000. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Expeditors International of Washington Stock Performance

NASDAQ:EXPD traded down $3.56 during trading hours on Friday, hitting $115.69. The stock had a trading volume of 1,486,589 shares, compared to its average volume of 1,245,191. 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 cap of $15.84 billion, a price-to-earnings ratio of 20.23, a P/E/G ratio of 5.00 and a beta of 1.07. The business's 50 day moving average is $114.10 and its 200-day moving average is $113.50.

Expeditors International of Washington Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given 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 dividend yield of 1.4%. Expeditors International of Washington's dividend payout ratio is currently 25.58%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EXPD. UBS Group reduced their target price on shares of Expeditors International of Washington from $128.00 to $117.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Baird R W upgraded shares of Expeditors International of Washington to a "hold" rating in a research report on Tuesday, July 1st. JPMorgan Chase & Co. upped their target price on shares of 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. Truist Financial upped their target price on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Finally, TD Cowen reduced their target price on shares of Expeditors International of Washington from $112.00 to $107.00 and set a "sell" rating on the stock in a research report on Wednesday, May 7th. Five equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus 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.