Madison Asset Management LLC Lowers Holdings in Expeditors International of Washington, Inc. $EXPD

Key Points

• Madison Asset Management trimmed its stake in Expeditors International of Washington by 3.9% in the fourth quarter, though it still held 525,834 shares valued at about $78.4 million.
• Institutional ownership remains very high, with hedge funds and other investors owning 94.02% of the company; several firms, including State Street and Wellington, increased their positions.
• Expeditors reported strong quarterly results, posting EPS of $1.71 versus the $1.33 estimate and raising revenue 4.4% year over year, while also announcing a $0.81 dividend payable June 15.

Madison Asset Management LLC reduced its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 3.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 525,834 shares of the transportation company's stock after selling 21,216 shares during the period. Madison Asset Management LLC owned approximately 0.39% of Expeditors International of Washington worth $78,355,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. State Street Corp boosted its stake in shares of Expeditors International of Washington by 5.2% in the third quarter. State Street Corp now owns 7,708,656 shares of the transportation company's stock worth $945,004,000 after buying an additional 377,703 shares during the last quarter. First Eagle Investment Management LLC raised its position in Expeditors International of Washington by 0.5% during the fourth quarter. First Eagle Investment Management LLC now owns 6,312,305 shares of the transportation company's stock valued at $940,597,000 after acquiring an additional 32,063 shares in the last quarter. Marshfield Associates lifted its holdings in Expeditors International of Washington by 4.6% in the third quarter. Marshfield Associates now owns 1,942,740 shares of the transportation company's stock valued at $238,161,000 after acquiring an additional 86,182 shares during the period. Wellington Management Group LLP lifted its holdings in Expeditors International of Washington by 64.1% in the third quarter. Wellington Management Group LLP now owns 1,920,927 shares of the transportation company's stock valued at $235,486,000 after acquiring an additional 749,993 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Expeditors International of Washington by 733.9% in 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 valued at $231,432,000 after acquiring an additional 1,661,457 shares during the period. Hedge funds and other institutional investors own 94.02% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Barclays raised their price objective on shares of Expeditors International of Washington from $110.00 to $135.00 and gave the stock an "underweight" rating in a research note on Thursday, January 15th. UBS Group increased their price target on shares of Expeditors International of Washington from $166.00 to $175.00 and gave the stock a "buy" rating in a report 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 report on Thursday, May 7th. Truist Financial decreased their price objective on shares of Expeditors International of Washington from $160.00 to $140.00 and set a "hold" rating for the company in a research report on Wednesday, February 25th. Finally, Susquehanna increased their target price on shares of Expeditors International of Washington from $142.00 to $156.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Expeditors International of Washington presently has an average rating of "Hold" and an average target price of $137.30.

Expeditors International of Washington Price Performance

Shares of EXPD stock opened at $154.50 on Wednesday. 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 cap of $20.21 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 5.00 and a beta of 1.04. The stock has a 50 day simple moving average of $146.25 and a 200-day simple moving average of $147.70.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The transportation company reported $1.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.47 EPS. Analysts anticipate that Expeditors International of Washington, Inc. will post 5.39 earnings per share for the current fiscal year.

Expeditors International of Washington Announces Dividend

The business also recently announced a dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a $0.81 dividend. The ex-dividend date is Monday, June 1st. This represents a dividend yield of 106.0%. Expeditors International of Washington's dividend payout ratio (DPR) is 26.21%.

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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