Expeditors International of Washington, Inc. (NASDAQ:EXPD) Shares Sold by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ reduced its stake in Expeditors International of Washington, Inc. by 11.7% during the first quarter, ending up with $3.49 million in holdings.
• Several large investors, including Geode Capital Management and First Trust Advisors, have recently increased their positions in Expeditors International, reflecting strong institutional interest with 94.02% of the stock owned by institutional investors.
• Expeditors International announced a semi-annual dividend increase from $0.73 to $0.77, offering a dividend yield of 1.4% and a payout ratio of 25.58%.

Skandinaviska Enskilda Banken AB publ reduced its position in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 11.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,990 shares of the transportation company's stock after selling 3,850 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Expeditors International of Washington were worth $3,485,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Coppell Advisory Solutions LLC acquired a new position in Expeditors International of Washington in the 4th quarter valued at about $25,000. Alpine Bank Wealth Management acquired a new position in Expeditors International of Washington in the 1st quarter valued at about $26,000. Garde Capital Inc. acquired a new position in Expeditors International of Washington in the 1st quarter valued at about $37,000. Colonial Trust Co SC grew its position in Expeditors International of Washington by 58.6% in the 4th quarter. Colonial Trust Co SC now owns 352 shares of the transportation company's stock valued at $39,000 after acquiring an additional 130 shares in the last quarter. Finally, Parvin Asset Management LLC acquired a new position in Expeditors International of Washington in the 4th quarter valued at about $42,000. 94.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EXPD shares. Barclays decreased their price objective on Expeditors International of Washington from $110.00 to $105.00 and set an "underweight" rating for the company in a research note on Wednesday, May 7th. TD Cowen decreased their price objective on 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 decreased their target price on 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. Bank of America cut Expeditors International of Washington from a "neutral" rating to an "underperform" rating and boosted their target price for the stock from $117.00 to $118.00 in a research note on Friday, July 11th. Finally, Baird R W upgraded Expeditors International of Washington to a "hold" rating in a research note on Tuesday, July 1st. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $113.89.

Expeditors International of Washington Stock Performance

NASDAQ EXPD traded down $2.11 on Friday, reaching $114.14. The stock had a trading volume of 540,226 shares, compared to its average volume of 1,372,251. Expeditors International of Washington, Inc. has a 12-month low of $100.47 and a 12-month high of $131.59. The business's 50-day moving average price is $114.39 and its 200 day moving average price is $113.80. The stock has a market cap of $15.63 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 5.00 and a beta of 1.07.

Expeditors International of Washington Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.77 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This is an increase from Expeditors International of Washington's previous semi-annual dividend of $0.73. This represents a dividend yield of 140.0%. Expeditors International of Washington's dividend 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.