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

Posted by admin on Jul 19th, 2022

Comerica Bank lessened its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD – Get Rating) by 11.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,045 shares of the transportation company’s stock after selling 5,832 shares during the quarter. Comerica Bank’s holdings in Expeditors International of Washington were worth $4,485,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised its stake in Expeditors International of Washington by 8.6% in the 4th quarter. BlackRock Inc. now owns 22,923,231 shares of the transportation company’s stock valued at $3,078,361,000 after purchasing an additional 1,812,773 shares during the last quarter. Norges Bank acquired a new position in Expeditors International of Washington in the 4th quarter valued at about $188,947,000. Allspring Global Investments Holdings LLC acquired a new position in Expeditors International of Washington in the 4th quarter valued at about $132,403,000. Invesco Ltd. raised its stake in Expeditors International of Washington by 29.6% in the 4th quarter. Invesco Ltd. now owns 2,509,534 shares of the transportation company’s stock valued at $337,005,000 after purchasing an additional 573,030 shares during the last quarter. Finally, State Street Corp raised its stake in Expeditors International of Washington by 5.2% in the 4th quarter. State Street Corp now owns 9,275,975 shares of the transportation company’s stock valued at $1,245,671,000 after purchasing an additional 455,974 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

Expeditors International of Washington Stock Performance

Shares of NASDAQ:EXPD opened at $96.59 on Tuesday. Expeditors International of Washington, Inc. has a 1 year low of $92.58 and a 1 year high of $137.80. The stock has a market capitalization of $16.20 billion, a P/E ratio of 11.18 and a beta of 0.88. The stock has a 50-day simple moving average of $102.10 and a 200-day simple moving average of $105.53.

Expeditors International of Washington (NASDAQ:EXPD – Get Rating) last issued its earnings results on Tuesday, May 3rd. The transportation company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.28. Expeditors International of Washington had a return on equity of 42.58% and a net margin of 8.20%. The business had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same quarter in the previous year, the business earned $1.67 EPS. The company’s revenue for the quarter was up 45.8% on a year-over-year basis. Analysts predict that Expeditors International of Washington, Inc. will post 7.64 earnings per share for the current year.

Expeditors International of Washington Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were issued a dividend of $0.67 per share. The ex-dividend date was Tuesday, May 31st. This represents a dividend yield of 1.2%. This is a boost from Expeditors International of Washington’s previous Semi-Annual dividend of $0.58. Expeditors International of Washington’s payout ratio is presently 15.51%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wells Fargo & Company cut their target price on shares of Expeditors International of Washington from $101.00 to $97.00 and set an “equal weight” rating for the company in a research note on Friday. Cowen boosted their target price on shares of Expeditors International of Washington from $111.00 to $125.00 in a research note on Thursday, May 5th. StockNews.com downgraded shares of Expeditors International of Washington from a “buy” rating to a “hold” rating in a research note on Thursday, July 14th. Cowen upped their price objective on shares of Expeditors International of Washington from $111.00 to $125.00 in a research note on Thursday, May 5th. Finally, Wolfe Research downgraded shares of Expeditors International of Washington from a “peer perform” rating to an “underperform” rating in a research note on Tuesday, July 12th. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, Expeditors International of Washington currently has a consensus rating of “Hold” and an average target price of $111.33.

About Expeditors International of Washington

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Expeditors International of Washington, Inc provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. 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, 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.