Oak Asset Management LLC Cuts Stock Holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Oak Asset Management LLC reduced its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 12.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,839 shares of the transportation company's stock after selling 2,292 shares during the period. Oak Asset Management LLC's holdings in Expeditors International of Washington were worth $2,025,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of EXPD. First Eagle Investment Management LLC grew its position in Expeditors International of Washington by 32.0% in the 4th quarter. First Eagle Investment Management LLC now owns 4,070,429 shares of the transportation company's stock valued at $450,881,000 after buying an additional 987,233 shares during the last quarter. Boston Partners lifted its stake in shares of Expeditors International of Washington by 29.7% in the 4th quarter. Boston Partners now owns 3,797,712 shares of the transportation company's stock worth $420,693,000 after acquiring an additional 869,637 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Expeditors International of Washington by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 3,392,307 shares of the transportation company's stock valued at $374,771,000 after acquiring an additional 57,736 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Expeditors International of Washington by 33.8% during the fourth quarter. First Trust Advisors LP now owns 2,734,816 shares of the transportation company's stock worth $302,936,000 after acquiring an additional 690,539 shares during the period. Finally, Invesco Ltd. raised its holdings in Expeditors International of Washington by 10.6% during the fourth quarter. Invesco Ltd. now owns 2,463,431 shares of the transportation company's stock worth $272,874,000 after purchasing an additional 235,409 shares in the last quarter. 94.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EXPD. Wall Street Zen lowered Expeditors International of Washington from a "buy" rating to a "hold" rating in a report on Sunday, February 16th. JPMorgan Chase & Co. decreased their price target on Expeditors International of Washington from $114.00 to $108.00 and set an "underweight" rating on the stock in a research note on Wednesday, February 19th. Barclays dropped their price objective on Expeditors International of Washington from $110.00 to $105.00 and set an "underweight" rating on the stock in a report on Wednesday, May 7th. Truist Financial reduced their target price on Expeditors International of Washington from $110.00 to $105.00 and set a "hold" rating for the company in a report on Thursday, April 24th. Finally, TD Cowen lowered their price target on shares of Expeditors International of Washington from $112.00 to $107.00 and set a "sell" rating on the stock in a research note on Wednesday, May 7th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $113.89.

Expeditors International of Washington Price Performance

NASDAQ:EXPD traded up $1.21 during trading hours on Friday, reaching $112.36. 1,029,982 shares of the company traded hands, compared to its average volume of 1,268,289. Expeditors International of Washington, Inc. has a 1-year low of $100.47 and a 1-year high of $131.59. The stock has a market cap of $15.39 billion, a P/E ratio of 19.64, a P/E/G ratio of 5.00 and a beta of 1.07. The firm's 50-day moving average is $111.01 and its 200-day moving average is $114.10.

Expeditors International of Washington Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.77 dividend. This is a boost from Expeditors International of Washington's previous semi-annual dividend of $0.73. This represents a yield of 1.4%. The ex-dividend date of this dividend is Monday, June 2nd. Expeditors International of Washington's payout ratio is presently 25.58%.

Expeditors International of Washington 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.