State of Alaska Department of Revenue Decreases Stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

State of Alaska Department of Revenue cut its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 21.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,818 shares of the transportation company’s stock after selling 6,130 shares during the period. State of Alaska Department of Revenue’s holdings in Expeditors International of Washington were worth $2,998,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norden Group LLC bought a new stake in shares of Expeditors International of Washington in the first quarter worth approximately $966,000. Van ECK Associates Corp grew its position in Expeditors International of Washington by 5.9% in the 1st quarter. Van ECK Associates Corp now owns 33,329 shares of the transportation company’s stock worth $4,052,000 after purchasing an additional 1,848 shares during the period. Mission Wealth Management LP raised its stake in Expeditors International of Washington by 1.4% during the 1st quarter. Mission Wealth Management LP now owns 12,595 shares of the transportation company’s stock valued at $1,531,000 after buying an additional 174 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Expeditors International of Washington by 8.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 115,854 shares of the transportation company’s stock valued at $13,326,000 after buying an additional 8,917 shares during the period. Finally, Resonant Capital Advisors LLC boosted its stake in shares of Expeditors International of Washington by 15.7% in the 1st quarter. Resonant Capital Advisors LLC now owns 7,316 shares of the transportation company’s stock worth $889,000 after buying an additional 994 shares during the last quarter. 94.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. TD Cowen cut Expeditors International of Washington from a “hold” rating to a “sell” rating and reduced their price objective for the company from $112.00 to $106.00 in a research report on Monday, October 14th. Benchmark reiterated a “hold” rating on shares of Expeditors International of Washington in a research note on Wednesday, August 7th. Bank of America raised their price objective on shares of Expeditors International of Washington from $131.00 to $132.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. UBS Group raised shares of Expeditors International of Washington from a “sell” rating to a “neutral” rating and upped their target price for the company from $95.00 to $137.00 in a report on Thursday, August 1st. Finally, Wolfe Research cut shares of Expeditors International of Washington from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 9th. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $115.33.

Expeditors International of Washington Price Performance

EXPD opened at $118.96 on Friday. The company has a 50 day simple moving average of $122.70 and a two-hundred day simple moving average of $121.10. The firm has a market cap of $16.79 billion, a P/E ratio of 25.53, a PEG ratio of 5.08 and a beta of 0.97. Expeditors International of Washington, Inc. has a 1-year low of $107.03 and a 1-year high of $131.59.

Expeditors International of Washington (NASDAQ:EXPD) last issued its earnings results on Tuesday, August 6th. The transportation company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.02). The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.28 billion. Expeditors International of Washington had a return on equity of 29.15% and a net margin of 7.40%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 EPS. Equities analysts anticipate that Expeditors International of Washington, Inc. will post 5.04 earnings per share for the current year.

About Expeditors International of Washington

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.