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

Allspring Global Investments Holdings LLC decreased its holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 15.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,839 shares of the transportation company’s stock after selling 9,310 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Expeditors International of Washington were worth $6,721,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EXPD. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Expeditors International of Washington by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,667 shares of the transportation company’s stock worth $2,338,000 after acquiring an additional 1,404 shares during the period. Sei Investments Co. raised its holdings in Expeditors International of Washington by 6.7% in the first quarter. Sei Investments Co. now owns 133,626 shares of the transportation company’s stock worth $13,801,000 after purchasing an additional 8,438 shares in the last quarter. National Pension Service raised its holdings in Expeditors International of Washington by 4.9% in the first quarter. National Pension Service now owns 288,713 shares of the transportation company’s stock worth $29,784,000 after purchasing an additional 13,608 shares in the last quarter. Vanguard Group Inc. raised its holdings 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 worth $2,029,739,000 after purchasing an additional 190,319 shares in the last quarter. Finally, Zions Bancorporation N.A. raised its holdings in Expeditors International of Washington by 234.3% in the first quarter. Zions Bancorporation N.A. now owns 575 shares of the transportation company’s stock worth $59,000 after purchasing an additional 403 shares in the last quarter. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Insider Activity

In related news, VP Jeffrey F. Dickerman sold 2,000 shares of Expeditors International of Washington stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $122.63, for a total value of $245,260.00. Following the completion of the sale, the vice president now directly owns 5,728 shares in the company, valued at approximately $702,424.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Stifel Nicolaus increased their price objective on Expeditors International of Washington from $114.00 to $117.00 and gave the stock a “hold” rating in a report on Wednesday, January 10th. JPMorgan Chase & Co. increased their price objective on Expeditors International of Washington from $106.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, April 9th. Bank of America assumed coverage on Expeditors International of Washington in a report on Friday, March 15th. They issued a “neutral” rating and a $126.00 price objective for the company. Finally, BNP Paribas downgraded Expeditors International of Washington from a “neutral” rating to an “underperform” rating and set a $116.00 price objective for the company. in a report on Thursday, January 11th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $108.63.

Expeditors International of Washington Price Performance

Shares of NASDAQ:EXPD opened at $114.79 on Friday. Expeditors International of Washington, Inc. has a 1-year low of $106.43 and a 1-year high of $131.17. The business has a fifty day moving average price of $120.04 and a 200-day moving average price of $120.55. The company has a market capitalization of $16.29 billion, a PE ratio of 22.96, a PEG ratio of 8.54 and a beta of 0.99.

Expeditors International of Washington (NASDAQ:EXPD) last issued its quarterly earnings results on Tuesday, February 20th. The transportation company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.12). Expeditors International of Washington had a net margin of 8.10% and a return on equity of 28.43%. The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the business earned $1.38 earnings per share. Expeditors International of Washington’s revenue was down 33.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Expeditors International of Washington, Inc. will post 4.75 earnings per share for the current fiscal year.

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.