Keybank National Association OH Trims Stock Holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Posted by Defense World Staff on Jan 14th, 2023

Keybank National Association OH lowered its position in Expeditors International of Washington, Inc. (NASDAQ:EXPD – Get Rating) by 47.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,585 shares of the transportation company’s stock after selling 2,329 shares during the quarter. Keybank National Association OH’s holdings in Expeditors International of Washington were worth $228,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Expeditors International of Washington by 1.0% in the first quarter. Vanguard Group Inc. now owns 19,675,632 shares of the transportation company’s stock valued at $2,029,739,000 after buying an additional 190,319 shares during the last quarter. State Street Corp lifted its stake in Expeditors International of Washington by 2.4% in the second quarter. State Street Corp now owns 9,350,289 shares of the transportation company’s stock valued at $911,279,000 after buying an additional 219,242 shares during the last quarter. Northern Trust Corp lifted its stake in Expeditors International of Washington by 0.3% in the first quarter. Northern Trust Corp now owns 2,486,514 shares of the transportation company’s stock valued at $256,508,000 after buying an additional 6,839 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Expeditors International of Washington by 6.1% in the second quarter. Principal Financial Group Inc. now owns 1,816,059 shares of the transportation company’s stock valued at $176,993,000 after buying an additional 104,230 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in Expeditors International of Washington by 4.8% in the third quarter. Nordea Investment Management AB now owns 1,747,552 shares of the transportation company’s stock valued at $157,891,000 after buying an additional 79,848 shares during the last quarter. Hedge funds and other institutional investors own 93.26% of the company’s stock.

Expeditors International of Washington Stock Performance

NASDAQ:EXPD opened at $108.92 on Friday. The stock has a fifty day moving average price of $109.43 and a two-hundred day moving average price of $102.01. The stock has a market capitalization of $17.33 billion, a price-to-earnings ratio of 11.44 and a beta of 0.98. Expeditors International of Washington, Inc. has a 1 year low of $86.08 and a 1 year high of $123.79.

Expeditors International of Washington (NASDAQ:EXPD – Get Rating) last posted its 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 company had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.21 billion. Expeditors International of Washington had a return on equity of 44.27% and a net margin of 8.36%. Expeditors International of Washington’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.09 earnings per share. On average, 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 announced a Semi-Annual dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were issued a $0.67 dividend. This represents a yield of 1.2%. The ex-dividend date was Wednesday, November 30th. Expeditors International of Washington’s dividend payout ratio (DPR) is 14.08%.

Analyst Upgrades and Downgrades

EXPD has been the subject of several analyst reports. Susquehanna cut their price target on Expeditors International of Washington from $110.00 to $95.00 in a research note on Wednesday, November 9th. Barclays cut their price target on Expeditors International of Washington from $95.00 to $90.00 and set an “underweight” rating for the company in a research note on Thursday, October 13th. Cowen cut their price target on Expeditors International of Washington to $122.00 in a research note on Tuesday, November 15th. Wells Fargo & Company cut Expeditors International of Washington from an “equal weight” rating to an “underweight” rating and set a $95.00 price target for the company. in a research note on Tuesday, November 22nd. Finally, StockNews.com initiated coverage on Expeditors International of Washington in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Four research 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, Expeditors International of Washington currently has an average rating of “Hold” and a consensus price target of $99.89.

Insider Buying and Selling at Expeditors International of Washington

In other Expeditors International of Washington news, insider Eugene K. Alger sold 11,500 shares of the company’s stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $113.43, for a total value of $1,304,445.00. Following the sale, 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 can be accessed through the SEC website. In related news, CFO Bradley S. Powell sold 17,206 shares of the stock in a transaction on Wednesday, November 9th. The stock was 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 available at this hyperlink. Also, insider Eugene K. Alger sold 11,500 shares of the stock in a transaction 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 sale, the insider now directly 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 90 days, insiders have sold 29,692 shares of company stock valued at $3,237,336. Insiders own 0.55% of the company’s stock.

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.