Point72 Asset Management L.P. Cuts Stock Position in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Posted by Defense World Staff on Dec 10th, 2022

Point72 Asset Management L.P. cut its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD – Get Rating) by 76.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,100 shares of the transportation company’s stock after selling 259,342 shares during the quarter. Point72 Asset Management L.P.’s holdings in Expeditors International of Washington were worth $7,807,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Capital Analysts LLC lifted its position in shares of Expeditors International of Washington by 0.7% during the second quarter. Capital Analysts LLC now owns 13,893 shares of the transportation company’s stock worth $1,354,000 after purchasing an additional 95 shares during the last quarter. Denali Advisors LLC boosted its holdings in shares of Expeditors International of Washington by 3.7% in the 2nd quarter. Denali Advisors LLC now owns 2,800 shares of the transportation company’s stock valued at $273,000 after buying an additional 100 shares in the last quarter. Lakeside Advisors INC. boosted its holdings in shares of Expeditors International of Washington by 0.3% in the 2nd quarter. Lakeside Advisors INC. now owns 37,051 shares of the transportation company’s stock valued at $3,611,000 after buying an additional 110 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Expeditors International of Washington by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 47,279 shares of the transportation company’s stock valued at $4,608,000 after buying an additional 124 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in shares of Expeditors International of Washington by 78.0% in the 2nd quarter. Lindbrook Capital LLC now owns 283 shares of the transportation company’s stock valued at $28,000 after buying an additional 124 shares in the last quarter. 89.56% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Jeffrey F. Dickerman sold 986 shares of the business’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $106.59, for a total transaction of $105,097.74. Following the transaction, the vice president now owns 1,770 shares of the company’s stock, valued at approximately $188,664.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Expeditors International of Washington news, insider Eugene K. Alger sold 11,500 shares of the company’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $113.43, for a total value of $1,304,445.00. Following the transaction, the insider now owns 17,879 shares of the company’s stock, valued at $2,028,014.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jeffrey F. Dickerman sold 986 shares of the company’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $106.59, for a total transaction of $105,097.74. Following the completion of the transaction, the vice president now directly owns 1,770 shares in the company, valued at approximately $188,664.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,692 shares of company stock valued at $3,237,336. 0.55% of the stock is currently owned by insiders.

Expeditors International of Washington Trading Up 0.1 %

Shares of EXPD stock opened at $107.91 on Friday. The company’s 50-day moving average price is $101.89 and its 200-day moving average price is $101.10. The stock has a market cap of $17.17 billion, a price-to-earnings ratio of 11.34 and a beta of 0.96. Expeditors International of Washington, Inc. has a twelve month low of $86.08 and a twelve month high of $137.80.

Expeditors International of Washington (NASDAQ:EXPD – Get Rating) last announced its quarterly earnings results on Tuesday, November 8th. The transportation company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.62. The firm had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.21 billion. Expeditors International of Washington had a net margin of 8.36% and a return on equity of 44.27%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.09 EPS. As a group, equities research analysts predict that Expeditors International of Washington, Inc. will post 8.69 EPS for the current year.

Expeditors International of Washington Dividend Announcement

The company also recently declared a Semi-Annual dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be given a dividend of $0.67 per share. The ex-dividend date is Wednesday, November 30th. This represents a dividend yield of 1.2%. Expeditors International of Washington’s payout ratio is 14.08%.

Wall Street Analysts Forecast Growth

EXPD has been the subject of a number of recent analyst reports. Susquehanna lowered their target price on shares of Expeditors International of Washington from $110.00 to $95.00 in a research note on Wednesday, November 9th. StockNews.com began coverage on shares of Expeditors International of Washington in a research note on Wednesday, October 12th. They set a “hold” rating for the company. BNP Paribas began coverage on shares of Expeditors International of Washington in a report on Thursday, December 1st. They set a “neutral” rating and a $107.00 target price for the company. Morgan Stanley cut their target price on shares of Expeditors International of Washington from $94.00 to $86.00 and set an “underweight” rating for the company in a report on Monday, October 3rd. Finally, Barclays cut their price target on shares of Expeditors International of Washington from $95.00 to $90.00 and set an “underweight” rating for the company in a report on Thursday, October 13th. Four investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $101.78.

Expeditors International of Washington 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.

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