Nomura Asset Management Co. Ltd. Has $53.55 Million Holdings in Expeditors International of Washington, Inc. $EXPD

Key Points

• Nomura Asset Management cut its stake in Expeditors International of Washington by 6.5% in the fourth quarter, though it still held 359,360 shares worth about $53.55 million.
• Expeditors reported better-than-expected quarterly earnings of $1.71 per share, topping estimates by $0.38, while revenue rose 4.4% year over year.
• The company declared a $0.81 dividend payable June 15, and analysts currently rate the stock Hold on average with a consensus price target of $137.30.

Nomura Asset Management Co. Ltd. lessened its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 359,360 shares of the transportation company's stock after selling 25,137 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.27% of Expeditors International of Washington worth $53,548,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp raised its stake in 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 valued at $945,004,000 after purchasing an additional 377,703 shares in the last quarter. First Eagle Investment Management LLC raised its stake in Expeditors International of Washington by 0.5% in 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 purchasing an additional 32,063 shares in the last quarter. Marshfield Associates raised its stake 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 purchasing an additional 86,182 shares in the last quarter. Wellington Management Group LLP raised its stake 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 purchasing an additional 749,993 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in 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 acquiring an additional 1,661,457 shares in the last quarter. Institutional investors and hedge funds own 94.02% of the company's stock.

Expeditors International of Washington Price Performance

Expeditors International of Washington stock opened at $158.44 on Monday. The business has a 50 day moving average of $149.77 and a 200-day moving average of $150.57. 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 P/E ratio of 27.70, a P/E/G ratio of 5.00 and a beta of 1.04.

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 return on equity of 36.16% and a net margin of 7.64%.During the same period in the prior year, the company earned $1.47 earnings per share. Expeditors International of Washington's revenue was up 4.4% on a year-over-year basis. Equities analysts anticipate that Expeditors International of Washington, Inc. will post 5.39 EPS for the current year.

Expeditors International of Washington Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have commented on EXPD shares. Truist Financial lowered their target price 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. JPMorgan Chase & Co. boosted their target price on Expeditors International of Washington from $135.00 to $139.00 and gave the stock an "underweight" rating in a research note on Wednesday, May 6th. Wolfe Research raised Expeditors International of Washington from a "strong sell" rating to a "hold" rating in a research note on Monday, March 9th. UBS Group boosted their target price on Expeditors International of Washington from $166.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. Finally, Zacks Research raised Expeditors International of Washington from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. One research 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target 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.

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.