Principal Financial Group Inc. Sells 17,727 Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Principal Financial Group Inc. trimmed its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 1.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,241,497 shares of the transportation company's stock after selling 17,727 shares during the quarter. Principal Financial Group Inc. owned about 0.90% of Expeditors International of Washington worth $149,290,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. First Eagle Investment Management LLC grew its position in Expeditors International of Washington by 32.0% during the fourth quarter. First Eagle Investment Management LLC now owns 4,070,429 shares of the transportation company's stock worth $450,881,000 after buying an additional 987,233 shares in the last quarter. Norges Bank acquired a new stake in Expeditors International of Washington during the fourth quarter worth about $107,863,000. Boston Partners lifted its stake in Expeditors International of Washington by 29.7% during the fourth quarter. Boston Partners now owns 3,797,712 shares of the transportation company's stock worth $420,693,000 after purchasing an additional 869,637 shares during the period. First Trust Advisors LP lifted its stake in 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 purchasing an additional 690,539 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Expeditors International of Washington by 13,910.4% during the first quarter. GAMMA Investing LLC now owns 507,455 shares of the transportation company's stock worth $61,021,000 after purchasing an additional 503,833 shares during the period. 94.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on EXPD. TD Cowen cut their price target on shares of Expeditors International of Washington from $112.00 to $107.00 and set a "sell" rating for the company in a research note on Wednesday, May 7th. UBS Group cut their price target on shares of Expeditors International of Washington from $128.00 to $117.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Robert W. Baird initiated coverage on shares of Expeditors International of Washington in a research note on Tuesday, July 1st. They issued a "neutral" rating and a $124.00 target price for the company. Baird R W upgraded shares of Expeditors International of Washington to a "hold" rating in a research note on Tuesday, July 1st. Finally, Barclays lowered their target price on shares of Expeditors International of Washington from $110.00 to $105.00 and set an "underweight" rating for the company in a report on Wednesday, May 7th. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $114.22.

Expeditors International of Washington Price Performance

Expeditors International of Washington stock traded down $0.65 during trading hours on Monday, hitting $117.73. The company had a trading volume of 23,477 shares, compared to its average volume of 1,243,875. Expeditors International of Washington, Inc. has a one year low of $100.47 and a one year high of $131.59. The firm has a 50-day moving average of $113.35 and a 200 day moving average of $113.30. The firm has a market cap of $16.12 billion, a PE ratio of 20.61, a PEG ratio of 5.00 and a beta of 1.07.

Expeditors International of Washington Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.77 per share. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, June 2nd. This is a positive change from Expeditors International of Washington's previous semi-annual dividend of $0.73. Expeditors International of Washington's payout ratio is 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.