NewEdge Wealth LLC Cuts Holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

NewEdge Wealth LLC lessened its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 63.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,287 shares of the transportation company's stock after selling 10,794 shares during the period. NewEdge Wealth LLC's holdings in Expeditors International of Washington were worth $800,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EXPD. Advisors Asset Management Inc. acquired a new stake in Expeditors International of Washington in the third quarter valued at about $29,000. First Horizon Advisors Inc. increased its position in Expeditors International of Washington by 53.8% during the 1st quarter. First Horizon Advisors Inc. now owns 263 shares of the transportation company's stock worth $29,000 after purchasing an additional 92 shares in the last quarter. CVA Family Office LLC bought a new position in Expeditors International of Washington in the 4th quarter valued at approximately $35,000. BKM Wealth Management LLC acquired a new stake in Expeditors International of Washington in the fourth quarter valued at approximately $37,000. Finally, Planned Solutions Inc. bought a new position in shares of Expeditors International of Washington in the 4th quarter valued at $37,000. 94.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EXPD has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price objective on Expeditors International of Washington from $106.00 to $107.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 9th. Stifel Nicolaus lifted their target price on shares of Expeditors International of Washington from $114.00 to $117.00 and gave the stock a "hold" rating in a research report on Wednesday, January 10th. BNP Paribas cut shares of Expeditors International of Washington from a "neutral" rating to an "underperform" rating and set a $116.00 price target for the company. in a research report on Thursday, January 11th. Finally, Bank of America began coverage on shares of Expeditors International of Washington in a report on Friday, March 15th. They set a "neutral" rating and a $126.00 price target on the stock. Three analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $108.63.

Expeditors International of Washington Stock Down 1.1 %

EXPD traded down $1.29 during trading on Wednesday, reaching $114.38. 1,010,142 shares of the stock traded hands, compared to its average volume of 1,151,979. The stock's 50-day moving average is $120.29 and its 200 day moving average is $120.59. Expeditors International of Washington, Inc. has a 12 month low of $106.43 and a 12 month high of $131.17. The stock has a market capitalization of $16.23 billion, a PE ratio of 22.88, a P/E/G ratio of 8.62 and a beta of 0.99.

Expeditors International of Washington (NASDAQ:EXPD - Get Free Report) last announced its earnings results on Tuesday, February 20th. The transportation company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.12). The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.32 billion. Expeditors International of Washington had a net margin of 8.10% and a return on equity of 28.43%. The firm's revenue for the quarter was down 33.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.38 EPS. As a group, equities research analysts anticipate that Expeditors International of Washington, Inc. will post 4.75 EPS for the current year.

Insider Buying and Selling

In related news, VP Jeffrey F. Dickerman sold 2,000 shares of the business's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $122.63, for a total value of $245,260.00. Following the completion of the sale, the vice president now directly owns 5,728 shares of the company's stock, valued at approximately $702,424.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.75% of the stock is owned by insiders.

Expeditors International of Washington Company 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.