Expeditors International of Washington (NASDAQ:EXPD) insider Jeffrey S. Musser sold 30,000 shares of the business’s stock in a transaction dated Friday, November 30th. The stock was sold at an average price of $75.95, for a total transaction of $2,278,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
EXPD stock opened at $75.54 on Thursday. Expeditors International of Washington has a fifty-two week low of $59.10 and a fifty-two week high of $78.16. The company has a market cap of $13.13 billion, a P/E ratio of 30.46, a PEG ratio of 2.97 and a beta of 0.79.
Expeditors International of Washington (NASDAQ:EXPD) last released its earnings results on Tuesday, November 6th. The transportation company reported $0.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.14. Expeditors International of Washington had a net margin of 7.76% and a return on equity of 28.98%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the firm earned $0.66 earnings per share. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, analysts predict that Expeditors International of Washington will post 3.24 EPS for the current fiscal year.
The company also recently announced a semiannual dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be paid a dividend of $0.45 per share. This represents a dividend yield of 1.23%. This is a positive change from Expeditors International of Washington’s previous semiannual dividend of $0.42. The ex-dividend date is Friday, November 30th. Expeditors International of Washington’s dividend payout ratio is presently 36.29%.
A number of brokerages have issued reports on EXPD. Stifel Nicolaus set a $73.00 price target on shares of Expeditors International of Washington and gave the stock a “hold” rating in a research note on Wednesday, August 8th. Zacks Investment Research lowered shares of Expeditors International of Washington from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. BidaskClub upgraded shares of Expeditors International of Washington from a “hold” rating to a “buy” rating in a research note on Tuesday, November 27th. Credit Suisse Group cut their target price on shares of Expeditors International of Washington from $67.00 to $65.00 and set an “underperform” rating on the stock in a research note on Wednesday, August 8th. Finally, Deutsche Bank initiated coverage on shares of Expeditors International of Washington in a research note on Tuesday, September 4th. They set a “hold” rating and a $71.00 target price on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $69.56.
Several hedge funds have recently added to or reduced their stakes in the stock. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in Expeditors International of Washington in the third quarter valued at approximately $88,985,000. FMR LLC boosted its holdings in Expeditors International of Washington by 59.3% in the second quarter. FMR LLC now owns 2,673,760 shares of the transportation company’s stock valued at $195,452,000 after purchasing an additional 995,371 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Expeditors International of Washington by 70.3% in the second quarter. Wells Fargo & Company MN now owns 2,164,146 shares of the transportation company’s stock valued at $158,200,000 after purchasing an additional 893,722 shares in the last quarter. Millennium Management LLC boosted its holdings in Expeditors International of Washington by 173.1% in the second quarter. Millennium Management LLC now owns 717,241 shares of the transportation company’s stock valued at $52,430,000 after purchasing an additional 454,631 shares in the last quarter. Finally, Commonwealth Bank of Australia boosted its holdings in Expeditors International of Washington by 13.9% in the third quarter. Commonwealth Bank of Australia now owns 3,672,424 shares of the transportation company’s stock valued at $270,017,000 after purchasing an additional 448,807 shares in the last quarter. Hedge funds and other institutional investors own 93.58% of the company’s stock.
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Expeditors International of Washington Company Profile
Expeditors International of Washington, Inc provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, such as ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, cargo insurance, cargo monitoring and tracking, and other logistics solutions.
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