Expeditors International of Washington, Inc. (NASDAQ:EXPD) Shares Sold by Royal Bank of Canada

Royal Bank of Canada decreased its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 31.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 933,743 shares of the transportation company's stock after selling 427,930 shares during the quarter. Royal Bank of Canada owned about 0.67% of Expeditors International of Washington worth $103,430,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Rafferty Asset Management LLC boosted its holdings in shares of Expeditors International of Washington by 8.0% in the 4th quarter. Rafferty Asset Management LLC now owns 16,508 shares of the transportation company's stock worth $1,829,000 after purchasing an additional 1,228 shares during the period. ProShare Advisors LLC boosted its holdings in Expeditors International of Washington by 10.0% during the 4th quarter. ProShare Advisors LLC now owns 1,587,922 shares of the transportation company's stock valued at $175,894,000 after acquiring an additional 144,361 shares during the period. Quantinno Capital Management LP boosted its holdings in Expeditors International of Washington by 41.8% during the 4th quarter. Quantinno Capital Management LP now owns 42,381 shares of the transportation company's stock valued at $4,695,000 after acquiring an additional 12,502 shares during the period. Mufg Securities Americas Inc. purchased a new position in Expeditors International of Washington during the 4th quarter valued at $229,000. Finally, Man Group plc boosted its holdings in Expeditors International of Washington by 37.3% during the 4th quarter. Man Group plc now owns 121,655 shares of the transportation company's stock valued at $13,476,000 after acquiring an additional 33,056 shares during the period. Hedge funds and other institutional investors own 94.02% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on EXPD shares. Barclays dropped their price objective on 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. Benchmark restated a "hold" rating on shares of Expeditors International of Washington in a report on Wednesday, February 19th. TD Cowen dropped their price objective on Expeditors International of Washington from $112.00 to $107.00 and set a "sell" rating for the company in a report on Wednesday, May 7th. Truist Financial dropped their price objective 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, Wall Street Zen cut Expeditors International of Washington from a "buy" rating to a "hold" rating in a report on Sunday, February 16th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $113.89.

Expeditors International of Washington Stock Performance

NASDAQ EXPD traded up $0.31 on Thursday, reaching $113.78. 1,396,738 shares of the stock traded hands, compared to its average volume of 1,291,531. The company has a fifty day moving average price of $112.17 and a 200-day moving average price of $114.63. The company has a market cap of $15.58 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 5.00 and a beta of 1.09. Expeditors International of Washington, Inc. has a 12 month low of $100.47 and a 12 month high of $131.59.

Expeditors International of Washington Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.77 dividend. This represents a dividend yield of 1.4%. This is a positive change from Expeditors International of Washington's previous semi-annual dividend of $0.73. 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.