Mitsubishi UFJ Asset Management Co. Ltd. Sells 7,210 Shares of Expeditors International of Washington, Inc. $EXPD

Key Points

• Mitsubishi UFJ Asset Management trimmed its stake in Expeditors International of Washington by 2.2% in the fourth quarter, selling 7,210 shares and leaving it with 318,209 shares valued at about $48.3 million.
• Expeditors reported strong quarterly results, posting earnings of $1.71 per share versus the $1.33 consensus estimate, with revenue up 4.4% year over year.
• Wall Street sentiment remains mixed: UBS raised its target to $175 and rated the stock buy, while the overall analyst consensus is still “Reduce” with an average price target of $137.30.

Mitsubishi UFJ Asset Management Co. Ltd. decreased its holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 318,209 shares of the transportation company's stock after selling 7,210 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.24% of Expeditors International of Washington worth $48,323,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in EXPD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Expeditors International of Washington by 733.9% in the 3rd 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 last quarter. Balyasny Asset Management L.P. bought a new position in shares of Expeditors International of Washington in the 3rd quarter valued at about $113,194,000. Wellington Management Group LLP lifted its holdings in shares of Expeditors International of Washington by 64.1% in the 3rd 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 last quarter. PFA Pension Forsikringsaktieselskab bought a new position in shares of Expeditors International of Washington in the 4th quarter valued at about $65,957,000. Finally, Caisse de depot et placement du Quebec lifted its holdings in shares of Expeditors International of Washington by 59.4% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,070,975 shares of the transportation company's stock valued at $131,291,000 after acquiring an additional 399,250 shares during the last quarter. Institutional investors own 94.02% of the company's stock.

Expeditors International of Washington Stock Performance

Shares of EXPD stock opened at $156.63 on Friday. Expeditors International of Washington, Inc. has a 52-week low of $108.40 and a 52-week high of $167.19. The firm has a market capitalization of $20.83 billion, a P/E ratio of 27.38, a P/E/G ratio of 5.00 and a beta of 1.04. The stock has a 50 day moving average price of $145.55 and a 200 day moving average price of $146.95.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The transportation company reported $1.71 earnings per share 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 quarter 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. As a group, sell-side analysts forecast that Expeditors International of Washington, Inc. will post 5.39 EPS for the current year.

Expeditors International of Washington Dividend Announcement

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

Wall Street Analyst Weigh In

EXPD has been the subject of several recent analyst reports. UBS Group boosted their target price on Expeditors International of Washington from $166.00 to $175.00 and gave the company a "buy" rating in a research report on Friday. Truist Financial decreased their price target on Expeditors International of Washington from $160.00 to $140.00 and set a "hold" rating for the company in a research note on Wednesday, February 25th. Barclays raised their price target on 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. JPMorgan Chase & Co. raised their price target on Expeditors International of Washington from $135.00 to $139.00 and gave the stock an "underweight" rating in a research note on Wednesday. Finally, Susquehanna raised their price target on Expeditors International of Washington from $142.00 to $156.00 and gave the stock a "neutral" rating in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $137.30.

About Expeditors International of Washington

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.

Want to see what other hedge funds are holding EXPD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.