Expeditors International of Washington (NASDAQ:EXPD) Cut to “Hold” at Zacks Research

Zacks Research cut shares of Expeditors International of Washington (NASDAQ:EXPD) from a strong-buy rating to a hold rating in a report released on Wednesday,Zacks.com reports.

Several other research firms have also recently issued reports on EXPD. UBS Group raised Expeditors International of Washington from a “neutral” rating to a “buy” rating and raised their target price for the stock from $138.00 to $166.00 in a research note on Monday, November 17th. Morgan Stanley increased their price target on Expeditors International of Washington from $90.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, December 8th. Stifel Nicolaus raised their price objective on Expeditors International of Washington from $130.00 to $136.00 and gave the stock a “hold” rating in a research report on Tuesday, December 16th. Bank of America upgraded shares of Expeditors International of Washington from a “neutral” rating to a “buy” rating in a report on Friday, January 9th. Finally, Barclays upped their target price on shares of Expeditors International of Washington from $110.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, Expeditors International of Washington has a consensus rating of “Reduce” and a consensus target price of $134.10.

Expeditors International of Washington Stock Down 0.7%

Shares of NASDAQ:EXPD opened at $162.66 on Wednesday. The business has a fifty day moving average of $149.80 and a two-hundred day moving average of $130.24. The stock has a market cap of $21.80 billion, a P/E ratio of 28.44, a PEG ratio of 5.00 and a beta of 1.14. Expeditors International of Washington has a 52-week low of $100.47 and a 52-week high of $164.48.

Expeditors International of Washington Announces Dividend

The firm also recently declared a dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a $0.77 dividend. The ex-dividend date was Monday, December 1st. This represents a dividend yield of 105.0%. Expeditors International of Washington’s payout ratio is 25.12%.

Insiders Place Their Bets

In related news, VP Jeffrey F. Dickerman sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $134.17, for a total transaction of $201,255.00. Following the sale, the vice president directly owned 6,151 shares in the company, valued at approximately $825,279.67. This represents a 19.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Emmert sold 5,400 shares of Expeditors International of Washington stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $135.25, for a total transaction of $730,350.00. Following the completion of the transaction, the director owned 6,468 shares of the company’s stock, valued at $874,797. This represents a 45.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.69% of the stock is currently owned by corporate insiders.

Institutional Trading of Expeditors International of Washington

A number of hedge funds and other institutional investors have recently bought and sold shares of EXPD. Clifford Swan Investment Counsel LLC grew its holdings in shares of Expeditors International of Washington by 18.0% during the second quarter. Clifford Swan Investment Counsel LLC now owns 71,213 shares of the transportation company’s stock worth $8,136,000 after purchasing an additional 10,858 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Expeditors International of Washington by 48.0% in the 2nd quarter. American Century Companies Inc. now owns 364,050 shares of the transportation company’s stock valued at $41,593,000 after purchasing an additional 118,114 shares during the period. Ascent Group LLC boosted its position in shares of Expeditors International of Washington by 237.3% in the 3rd quarter. Ascent Group LLC now owns 10,315 shares of the transportation company’s stock valued at $1,265,000 after purchasing an additional 7,257 shares during the period. Prudential Financial Inc. grew its stake in Expeditors International of Washington by 7.2% during the 2nd quarter. Prudential Financial Inc. now owns 82,596 shares of the transportation company’s stock worth $9,437,000 after buying an additional 5,537 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new position in Expeditors International of Washington during the second quarter worth approximately $3,359,000. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Expeditors International of Washington Company Profile

Expeditors International of Washington is a global logistics and freight forwarding company headquartered in Seattle, Washington. The firm specializes in providing tailored supply chain solutions that encompass air, ocean and ground transportation. Through an integrated service model, Expeditors coordinates and manages the movement of goods for a diverse customer base, including manufacturers, retailers and technology companies.

The company’s core offerings include customs brokerage, cargo insurance, distribution and warehousing services, as well as vendor consolidation and inventory management.