Expeditors International of Washington (NASDAQ:EXPD) Holdings Cut by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its holdings in shares of Expeditors International of Washington (NASDAQ:EXPD) by 6.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,516 shares of the transportation company’s stock after selling 2,724 shares during the quarter. State of Alaska Department of Revenue’s holdings in Expeditors International of Washington were worth $2,920,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in EXPD. Sawgrass Asset Management LLC grew its stake in Expeditors International of Washington by 4.4% in the 2nd quarter. Sawgrass Asset Management LLC now owns 477,800 shares of the transportation company’s stock valued at $36,246,000 after buying an additional 20,344 shares during the last quarter. Lenox Wealth Management Inc. grew its stake in Expeditors International of Washington by 98.9% in the 2nd quarter. Lenox Wealth Management Inc. now owns 567 shares of the transportation company’s stock valued at $43,000 after buying an additional 282 shares during the last quarter. Cerebellum GP LLC grew its stake in Expeditors International of Washington by 230.5% in the 2nd quarter. Cerebellum GP LLC now owns 4,068 shares of the transportation company’s stock valued at $309,000 after buying an additional 2,837 shares during the last quarter. Davy Asset Management Ltd acquired a new position in Expeditors International of Washington in the 2nd quarter valued at $439,000. Finally, FDx Advisors Inc. acquired a new position in Expeditors International of Washington in the 2nd quarter valued at $579,000. Institutional investors and hedge funds own 92.16% of the company’s stock.

NASDAQ EXPD traded down $0.14 during midday trading on Friday, hitting $73.18. The company had a trading volume of 904,205 shares, compared to its average volume of 943,694. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.22 and a current ratio of 2.22. The firm has a market cap of $13.13 billion, a PE ratio of 21.03 and a beta of 0.90. The stock has a fifty day moving average of $74.85. Expeditors International of Washington has a fifty-two week low of $62.90 and a fifty-two week high of $80.69.

Expeditors International of Washington (NASDAQ:EXPD) last posted its quarterly earnings results on Tuesday, May 7th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.05). The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.99 billion. Expeditors International of Washington had a return on equity of 31.25% and a net margin of 7.49%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 earnings per share. As a group, research analysts anticipate that Expeditors International of Washington will post 3.45 EPS for the current year.

A number of research firms recently issued reports on EXPD. Goldman Sachs Group began coverage on shares of Expeditors International of Washington in a research note on Wednesday, July 10th. They issued a “sell” rating and a $70.00 target price on the stock. BidaskClub upgraded shares of Expeditors International of Washington from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Seaport Global Securities reiterated a “neutral” rating on shares of Expeditors International of Washington in a research note on Friday, May 17th. Stifel Nicolaus set a $73.00 target price on shares of Expeditors International of Washington and gave the company a “hold” rating in a research note on Monday, May 20th. Finally, Zacks Investment Research upgraded shares of Expeditors International of Washington from a “sell” rating to a “hold” rating and set a $75.00 target price on the stock in a research note on Monday, May 27th. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $73.29.

About Expeditors International of Washington

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, including 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, temperature-controlled transit, cargo insurance, and other logistics solutions.

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Institutional Ownership by Quarter for Expeditors International of Washington (NASDAQ:EXPD)

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