Livforsakringsbolaget Skandia Omsesidigt Cuts Stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Posted by Defense World Staff on Dec 13th, 2022

Livforsakringsbolaget Skandia Omsesidigt cut its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD – Get Rating) by 51.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 672 shares of the transportation company’s stock after selling 700 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Expeditors International of Washington were worth $65,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in EXPD. Valley National Advisers Inc. grew its stake in shares of Expeditors International of Washington by 605.6% during the 2nd quarter. Valley National Advisers Inc. now owns 254 shares of the transportation company’s stock worth $25,000 after purchasing an additional 218 shares during the period. Allworth Financial LP grew its stake in shares of Expeditors International of Washington by 2,866.7% during the 2nd quarter. Allworth Financial LP now owns 267 shares of the transportation company’s stock worth $26,000 after purchasing an additional 258 shares during the period. Lindbrook Capital LLC grew its stake in shares of Expeditors International of Washington by 78.0% during the 2nd quarter. Lindbrook Capital LLC now owns 283 shares of the transportation company’s stock worth $28,000 after purchasing an additional 124 shares during the period. TCI Wealth Advisors Inc. grew its stake in shares of Expeditors International of Washington by 3,625.0% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 298 shares of the transportation company’s stock worth $29,000 after purchasing an additional 290 shares during the period. Finally, Venture Visionary Partners LLC acquired a new position in shares of Expeditors International of Washington during the 2nd quarter worth $29,000. 89.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Expeditors International of Washington

In related news, insider Eugene K. Alger sold 11,500 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $2,028,014.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Bradley S. Powell sold 17,206 shares of Expeditors International of Washington stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $106.23, for a total transaction of $1,827,793.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Eugene K. Alger sold 11,500 shares of Expeditors International of Washington stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $113.43, for a total transaction of $1,304,445.00. Following the sale, the insider now owns 17,879 shares in the company, valued at approximately $2,028,014.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,692 shares of company stock worth $3,237,336. Company insiders own 0.55% of the company’s stock.

Expeditors International of Washington Price Performance

Shares of EXPD stock opened at $113.28 on Tuesday. The firm has a market cap of $18.03 billion, a P/E ratio of 11.90 and a beta of 0.96. Expeditors International of Washington, Inc. has a 1-year low of $86.08 and a 1-year high of $137.80. The firm’s 50-day simple moving average is $102.34 and its 200-day simple moving average is $101.07.

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

Expeditors International of Washington Dividend Announcement

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

Analyst Ratings Changes

EXPD has been the topic of a number of research reports. StockNews.com initiated coverage on shares of Expeditors International of Washington in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Morgan Stanley lowered their price objective on shares of Expeditors International of Washington from $94.00 to $86.00 and set an “underweight” rating on the stock in a research note on Monday, October 3rd. Barclays lowered their price objective on shares of Expeditors International of Washington from $95.00 to $90.00 and set an “underweight” rating on the stock in a research note on Thursday, October 13th. Susquehanna Bancshares lowered their price objective on shares of Expeditors International of Washington from $110.00 to $95.00 in a research note on Wednesday, November 9th. Finally, BNP Paribas initiated coverage on shares of Expeditors International of Washington in a research note on Thursday, December 1st. They issued a “neutral” rating and a $107.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Expeditors International of Washington presently has a consensus rating of “Hold” and a consensus 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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