Expeditors International of Washington, Inc. (NASDAQ:EXPD) Given Average Recommendation of “Reduce” by Brokerages

Expeditors International of Washington, Inc. (NASDAQ:EXPD) has been given a consensus rating of “Reduce” by the eleven research firms that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $113.89.

Several research analysts recently weighed in on the stock. Benchmark restated a “hold” rating on shares of Expeditors International of Washington in a research report on Wednesday, February 19th. Barclays reduced their target price on Expeditors International of Washington from $110.00 to $105.00 and set an “underweight” rating for the company in a report on Wednesday, May 7th. Truist Financial decreased their target price on Expeditors International of Washington from $110.00 to $105.00 and set a “hold” rating on the stock in a research report on Thursday, April 24th. Susquehanna boosted their price target on Expeditors International of Washington from $115.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. Finally, UBS Group decreased their price objective on Expeditors International of Washington from $128.00 to $117.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th.

Institutional Investors Weigh In On Expeditors International of Washington

A number of hedge funds have recently modified their holdings of the company. Boston Partners increased its holdings in shares of Expeditors International of Washington by 13.1% during the 1st quarter. Boston Partners now owns 4,295,924 shares of the transportation company’s stock worth $516,385,000 after buying an additional 498,212 shares during the last quarter. First Eagle Investment Management LLC increased its position in shares of Expeditors International of Washington by 32.0% during the 4th quarter. First Eagle Investment Management LLC now owns 4,070,429 shares of the transportation company’s stock worth $450,881,000 after purchasing an additional 987,233 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Expeditors International of Washington by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 3,392,307 shares of the transportation company’s stock worth $374,771,000 after purchasing an additional 57,736 shares during the last quarter. Invesco Ltd. raised its holdings in Expeditors International of Washington by 23.4% in the 1st quarter. Invesco Ltd. now owns 3,039,899 shares of the transportation company’s stock valued at $365,548,000 after buying an additional 576,468 shares during the period. Finally, First Trust Advisors LP lifted its position in Expeditors International of Washington by 33.8% in the fourth quarter. First Trust Advisors LP now owns 2,734,816 shares of the transportation company’s stock valued at $302,936,000 after buying an additional 690,539 shares during the last quarter. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Expeditors International of Washington Stock Down 1.2%

EXPD stock opened at $113.76 on Wednesday. Expeditors International of Washington has a 52-week low of $100.47 and a 52-week high of $131.59. The firm has a market cap of $15.58 billion, a P/E ratio of 19.89, a PEG ratio of 5.00 and a beta of 1.07. The company’s 50-day simple moving average is $111.57 and its 200-day simple moving average is $113.68.

Expeditors International of Washington Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.77 per share. This represents a dividend yield of 1.4%. The ex-dividend date was Monday, June 2nd. This is a positive change from Expeditors International of Washington’s previous semi-annual dividend of $0.73. Expeditors International of Washington’s payout ratio is currently 25.58%.

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.