Sawgrass Asset Management LLC Sells 12,329 Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Posted by admin on Sep 14th, 2022

Sawgrass Asset Management LLC decreased its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD – Get Rating) by 11.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,851 shares of the transportation company’s stock after selling 12,329 shares during the period. Sawgrass Asset Management LLC owned approximately 0.06% of Expeditors International of Washington worth $9,991,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of EXPD. Delos Wealth Advisors LLC bought a new stake in shares of Expeditors International of Washington during the 4th quarter valued at about $27,000. Riverview Trust Co bought a new stake in shares of Expeditors International of Washington during the 1st quarter valued at about $28,000. Artemis Wealth Advisors LLC bought a new stake in shares of Expeditors International of Washington during the 1st quarter valued at about $31,000. Sandy Cove Advisors LLC boosted its stake in Expeditors International of Washington by 3,725.0% during the first quarter. Sandy Cove Advisors LLC now owns 306 shares of the transportation company’s stock worth $32,000 after acquiring an additional 298 shares in the last quarter. Finally, Covestor Ltd boosted its stake in Expeditors International of Washington by 103.6% during the first quarter. Covestor Ltd now owns 342 shares of the transportation company’s stock worth $35,000 after acquiring an additional 174 shares in the last quarter. Institutional investors own 89.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on EXPD shares. Wolfe Research lowered shares of Expeditors International of Washington from a “peer perform” rating to an “underperform” rating in a research note on Tuesday, July 12th. StockNews.com lowered shares of Expeditors International of Washington from a “buy” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Company dropped their price objective on shares of Expeditors International of Washington from $101.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Friday, July 15th. Finally, Barclays dropped their price objective on shares of Expeditors International of Washington from $105.00 to $95.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 12th. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $108.38.

Expeditors International of Washington Stock Performance

Shares of NASDAQ EXPD opened at $99.79 on Wednesday. The firm’s 50 day moving average price is $102.62 and its 200-day moving average price is $102.42. The company has a market cap of $16.74 billion, a PE ratio of 11.00 and a beta of 0.87. Expeditors International of Washington, Inc. has a 52-week low of $92.58 and a 52-week high of $137.80.

Expeditors International of Washington (NASDAQ:EXPD – Get Rating) last issued its earnings results on Tuesday, August 2nd. The transportation company reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.14. The firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.70 billion. Expeditors International of Washington had a net margin of 8.09% and a return on equity of 42.95%. The business’s revenue was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.84 earnings per share. On average, analysts forecast that Expeditors International of Washington, Inc. will post 7.87 earnings per share for the current fiscal year.

Expeditors International of Washington Company Profile

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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.