Allspring Global Investments Holdings LLC Cuts Stock Position in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Allspring Global Investments Holdings LLC lowered its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 63.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,151 shares of the transportation company’s stock after selling 33,688 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Expeditors International of Washington were worth $2,328,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Optiver Holding B.V. purchased a new position in shares of Expeditors International of Washington in the 4th quarter worth $27,000. CVA Family Office LLC purchased a new position in shares of Expeditors International of Washington in the 4th quarter worth $35,000. BKM Wealth Management LLC purchased a new position in shares of Expeditors International of Washington in the 4th quarter worth $37,000. Planned Solutions Inc. purchased a new position in shares of Expeditors International of Washington in the 4th quarter worth $37,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Expeditors International of Washington in the 4th quarter worth $38,000. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

Expeditors International of Washington Price Performance

Shares of NASDAQ:EXPD opened at $121.32 on Wednesday. Expeditors International of Washington, Inc. has a 1 year low of $107.03 and a 1 year high of $131.17. The business has a 50 day simple moving average of $120.09 and a two-hundred day simple moving average of $121.85. The firm has a market capitalization of $17.14 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 5.81 and a beta of 0.98.

Expeditors International of Washington (NASDAQ:EXPD) last announced its earnings results on Tuesday, May 7th. The transportation company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the previous year, the business earned $1.45 earnings per share. The company’s revenue for the quarter was down 14.9% compared to the same quarter last year. Equities research analysts expect that Expeditors International of Washington, Inc. will post 4.89 EPS for the current fiscal year.

Expeditors International of Washington Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $0.73 dividend. This is an increase from Expeditors International of Washington’s previous semi-annual dividend of $0.69. The ex-dividend date was Monday, June 3rd. This represents a yield of 1.2%. Expeditors International of Washington’s payout ratio is 30.93%.

Insider Buying and Selling

In other news, Director Mark A. Emmert sold 8,100 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $123.67, for a total transaction of $1,001,727.00. Following the transaction, the director now directly owns 14,085 shares of the company’s stock, valued at $1,741,891.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Expeditors International of Washington news, Director Mark A. Emmert sold 8,100 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $123.67, for a total value of $1,001,727.00. Following the sale, the director now directly owns 14,085 shares of the company’s stock, valued at $1,741,891.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Blake R. Bell sold 4,100 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $116.99, for a total transaction of $479,659.00. Following the completion of the sale, the insider now directly owns 52,745 shares in the company, valued at $6,170,637.55. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on EXPD. Susquehanna raised their target price on Expeditors International of Washington from $112.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. BNP Paribas raised Expeditors International of Washington from an “underperform” rating to a “neutral” rating and set a $112.00 price target on the stock in a report on Tuesday, May 14th. Stifel Nicolaus raised their price target on Expeditors International of Washington from $112.00 to $114.00 and gave the company a “hold” rating in a report on Thursday, May 23rd. JPMorgan Chase & Co. raised their price target on Expeditors International of Washington from $106.00 to $107.00 and gave the company an “underweight” rating in a report on Tuesday, April 9th. Finally, TD Cowen lifted their target price on Expeditors International of Washington from $111.00 to $112.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $111.88.

Expeditors International of Washington 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.