Allspring Global Investments Holdings LLC Sells 235,317 Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Posted by Defense World Staff on Jan 9th, 2023

Allspring Global Investments Holdings LLC lessened its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD – Get Rating) by 34.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 454,573 shares of the transportation company’s stock after selling 235,317 shares during the period. Allspring Global Investments Holdings LLC owned 0.27% of Expeditors International of Washington worth $40,142,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in EXPD. Renaissance Technologies LLC boosted its holdings in shares of Expeditors International of Washington by 1,025.5% during the 1st quarter. Renaissance Technologies LLC now owns 990,616 shares of the transportation company’s stock valued at $102,192,000 after purchasing an additional 902,600 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Expeditors International of Washington by 266.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,180,808 shares of the transportation company’s stock valued at $115,083,000 after acquiring an additional 858,185 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Expeditors International of Washington by 99.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,060,119 shares of the transportation company’s stock valued at $103,319,000 after acquiring an additional 529,349 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Expeditors International of Washington by 32.0% in the 2nd quarter. Nordea Investment Management AB now owns 1,667,704 shares of the transportation company’s stock valued at $161,651,000 after acquiring an additional 404,737 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Expeditors International of Washington by 13,716.5% in the 3rd quarter. Pacer Advisors Inc. now owns 395,152 shares of the transportation company’s stock valued at $34,896,000 after acquiring an additional 392,292 shares during the last quarter. Institutional investors own 93.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EXPD. Morgan Stanley lowered their price target 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. Susquehanna Bancshares lowered their price target on shares of Expeditors International of Washington from $110.00 to $95.00 in a report on Wednesday, November 9th. Cowen lowered their price target on shares of Expeditors International of Washington to $122.00 in a report on Tuesday, November 15th. Cowen lowered their price target on shares of Expeditors International of Washington from $122.00 to $108.00 in a report on Friday. Finally, StockNews.com started coverage on shares of Expeditors International of Washington in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Four investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $99.89.

Insider Transactions at Expeditors International of Washington

In other news, CFO Bradley S. Powell sold 17,206 shares of the firm’s 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Eugene K. Alger sold 11,500 shares of the 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 transaction, the insider now directly owns 17,879 shares in the company, valued at $2,028,014.97. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Bradley S. Powell sold 17,206 shares of the 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 29,692 shares of company stock valued at $3,237,336. 0.55% of the stock is currently owned by company insiders.

Expeditors International of Washington Stock Performance

Shares of NASDAQ:EXPD opened at $108.18 on Monday. The firm has a market cap of $17.22 billion, a PE ratio of 11.36 and a beta of 0.98. The firm’s 50 day simple moving average is $108.06 and its 200-day simple moving average is $101.69. Expeditors International of Washington, Inc. has a one year low of $86.08 and a one year high of $130.89.

Expeditors International of Washington (NASDAQ:EXPD – Get Rating) last issued its earnings results on Tuesday, November 8th. The transportation company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.62. The business had revenue of $4.36 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company posted $2.09 earnings per share. Equities research analysts predict that Expeditors International of Washington, Inc. will post 8.69 EPS for the current fiscal year.

Expeditors International of Washington Dividend Announcement

The business also recently announced a Semi-Annual dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were given a dividend of $0.67 per share. This represents a dividend yield of 1.2%. The ex-dividend date was Wednesday, November 30th. Expeditors International of Washington’s dividend payout ratio (DPR) is presently 14.08%.

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.

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