Expeditors International of Washington, Inc. (NASDAQ:EXPD) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lessened its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 9.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 20,367 shares of the transportation company’s stock after selling 2,100 shares during the quarter. CIBC Asset Management Inc’s holdings in Expeditors International of Washington were worth $2,591,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. NEOS Investment Management LLC acquired a new stake in Expeditors International of Washington during the 4th quarter worth about $262,000. CWA Asset Management Group LLC acquired a new stake in Expeditors International of Washington during the 4th quarter worth about $8,734,000. Madison Asset Management LLC raised its holdings in Expeditors International of Washington by 2.7% during the 4th quarter. Madison Asset Management LLC now owns 348,143 shares of the transportation company’s stock worth $44,284,000 after buying an additional 9,096 shares during the period. Bank of Nova Scotia raised its holdings in Expeditors International of Washington by 31.3% during the 4th quarter. Bank of Nova Scotia now owns 18,144 shares of the transportation company’s stock worth $2,308,000 after buying an additional 4,329 shares during the period. Finally, TFO Wealth Partners LLC grew its stake in Expeditors International of Washington by 134,060.0% during the 4th quarter. TFO Wealth Partners LLC now owns 6,708 shares of the transportation company’s stock valued at $853,000 after acquiring an additional 6,703 shares in the last quarter. Institutional investors and hedge funds own 94.02% of the company’s stock.

Insider Buying and Selling at Expeditors International of Washington

In other Expeditors International of Washington news, insider Blake R. Bell sold 4,100 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.99, for a total transaction of $479,659.00. Following the transaction, the insider now owns 52,745 shares in the company, valued at $6,170,637.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.69% of the company’s stock.

Expeditors International of Washington Stock Performance

NASDAQ:EXPD opened at $125.46 on Friday. The stock’s 50 day moving average price is $117.25 and its 200 day moving average price is $121.23. Expeditors International of Washington, Inc. has a 52 week low of $107.03 and a 52 week high of $131.17. The company has a market capitalization of $17.72 billion, a P/E ratio of 26.58, a P/E/G ratio of 6.85 and a beta of 0.99.

Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings data on Tuesday, May 7th. The transportation company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.07. Expeditors International of Washington had a return on equity of 28.89% and a net margin of 7.81%. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the company posted $1.45 earnings per share. The firm’s revenue was down 14.9% on a year-over-year basis. As a group, sell-side analysts forecast that Expeditors International of Washington, Inc. will post 4.88 earnings per share for the current fiscal year.

Expeditors International of Washington Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.73 per share. This represents a yield of 1.2%. The ex-dividend date of this dividend is Monday, June 3rd. This is an increase from Expeditors International of Washington’s previous semi-annual dividend of $0.69. Expeditors International of Washington’s dividend payout ratio (DPR) is 30.93%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. TD Cowen lifted their target price on Expeditors International of Washington from $111.00 to $112.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Bank of America assumed coverage on Expeditors International of Washington in a research note on Friday, March 15th. They set a “neutral” rating and a $126.00 target price on the stock. BNP Paribas raised Expeditors International of Washington from an “underperform” rating to a “neutral” rating and set a $112.00 target price on the stock in a research note on Tuesday, May 14th. Wolfe Research raised Expeditors International of Washington from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, May 28th. Finally, JPMorgan Chase & Co. lifted their target price on Expeditors International of Washington from $106.00 to $107.00 and gave the company an “underweight” rating in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat.com, Expeditors International of Washington has a consensus rating of “Hold” and an average target price of $111.25.

Expeditors International of Washington Company Profile

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services worldwide. 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, import, 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.