Ritholtz Wealth Management Invests $284,000 in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Posted by Defense World Staff on Jul 6th, 2023

Ritholtz Wealth Management bought a new stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD – Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 2,580 shares of the transportation company’s stock, valued at approximately $284,000.

A number of other hedge funds have also recently bought and sold shares of EXPD. Accurate Wealth Management LLC acquired a new position in shares of Expeditors International of Washington during the fourth quarter valued at about $26,000. Raleigh Capital Management Inc. grew its holdings in shares of Expeditors International of Washington by 200.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 252 shares of the transportation company’s stock worth $26,000 after purchasing an additional 168 shares in the last quarter. New Hampshire Trust bought a new stake in shares of Expeditors International of Washington during the fourth quarter valued at approximately $26,000. U.S. Capital Wealth Advisors LLC acquired a new position in shares of Expeditors International of Washington in the fourth quarter valued at $33,000. Finally, Allworth Financial LP lifted its position in Expeditors International of Washington by 138.3% in the fourth quarter. Allworth Financial LP now owns 336 shares of the transportation company’s stock worth $35,000 after purchasing an additional 195 shares during the period. 97.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

EXPD has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of Expeditors International of Washington in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Barclays raised their price target on shares of Expeditors International of Washington from $90.00 to $95.00 in a research note on Wednesday, May 3rd. Finally, Morgan Stanley dropped their target price on Expeditors International of Washington from $87.00 to $86.00 and set an “underweight” rating for the company in a report on Tuesday, April 4th. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $101.00.

Insider Buying and Selling at Expeditors International of Washington

In other news, CEO Jeffrey S. Musser sold 30,041 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $111.30, for a total transaction of $3,343,563.30. Following the transaction, the chief executive officer now directly owns 116,587 shares in the company, valued at $12,976,133.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jeffrey S. Musser sold 30,041 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $111.30, for a total transaction of $3,343,563.30. Following the transaction, the chief executive officer now owns 116,587 shares of the company’s stock, valued at $12,976,133.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Bradley S. Powell sold 12,138 shares of Expeditors International of Washington stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $118.01, for a total value of $1,432,405.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,077 shares of company stock worth $5,117,562. 0.69% of the stock is currently owned by corporate insiders.

Expeditors International of Washington Trading Down 0.4 %

NASDAQ EXPD opened at $121.16 on Thursday. Expeditors International of Washington, Inc. has a 1-year low of $86.08 and a 1-year high of $122.06. The company has a 50 day moving average of $115.77 and a 200-day moving average of $111.01. The firm has a market cap of $18.51 billion, a price-to-earnings ratio of 15.86 and a beta of 1.00.

Expeditors International of Washington (NASDAQ:EXPD – Free Report) last released its quarterly earnings results on Tuesday, May 2nd. The transportation company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.12. The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.91 billion. Expeditors International of Washington had a return on equity of 37.24% and a net margin of 8.25%. The business’s revenue was down 44.4% on a year-over-year basis. During the same period last year, the firm posted $2.05 EPS. On average, analysts forecast that Expeditors International of Washington, Inc. will post 5.42 earnings per share for the current year.

Expeditors International of Washington Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were issued a dividend of $0.69 per share. The ex-dividend date was Wednesday, May 31st. This represents a yield of 1.1%. This is a positive change from Expeditors International of Washington’s previous Semi-Annual dividend of $0.67. Expeditors International of Washington’s dividend payout ratio is currently 18.06%.

About Expeditors International of Washington

(Free Report)

Expeditors International of Washington, Inc, together with its subsidiaries, 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.