Russell Investments Group Ltd. Reduces Holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Russell Investments Group Ltd. trimmed its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 51.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,176 shares of the transportation company’s stock after selling 209,200 shares during the period. Russell Investments Group Ltd. owned about 0.13% of Expeditors International of Washington worth $23,628,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Expeditors International of Washington by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,667 shares of the transportation company’s stock worth $2,338,000 after acquiring an additional 1,404 shares during the last quarter. Sei Investments Co. boosted its position in Expeditors International of Washington by 6.7% during the first quarter. Sei Investments Co. now owns 133,626 shares of the transportation company’s stock worth $13,801,000 after acquiring an additional 8,438 shares during the last quarter. National Pension Service boosted its position in Expeditors International of Washington by 4.9% during the first quarter. National Pension Service now owns 288,713 shares of the transportation company’s stock worth $29,784,000 after acquiring an additional 13,608 shares during the last quarter. Vanguard Group Inc. boosted its position in Expeditors International of Washington by 1.0% during the first quarter. Vanguard Group Inc. now owns 19,675,632 shares of the transportation company’s stock worth $2,029,739,000 after acquiring an additional 190,319 shares during the last quarter. Finally, Zions Bancorporation N.A. boosted its position in Expeditors International of Washington by 234.3% during the first quarter. Zions Bancorporation N.A. now owns 575 shares of the transportation company’s stock worth $59,000 after acquiring an additional 403 shares during the last quarter. 96.73% of the stock is owned by hedge funds and other institutional investors.

Expeditors International of Washington Price Performance

Expeditors International of Washington stock opened at $117.53 on Tuesday. Expeditors International of Washington, Inc. has a 12-month low of $102.75 and a 12-month high of $128.04. The company has a market capitalization of $17.09 billion, a price-to-earnings ratio of 22.22 and a beta of 1.01. The firm’s fifty day moving average price is $114.78 and its 200 day moving average price is $116.76.

Expeditors International of Washington (NASDAQ:EXPD) last released its earnings results on Tuesday, November 7th. The transportation company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.09). The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.29 billion. Expeditors International of Washington had a return on equity of 28.76% and a net margin of 7.77%. Expeditors International of Washington’s revenue for the quarter was down 49.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.54 EPS. Analysts forecast that Expeditors International of Washington, Inc. will post 5.19 earnings per share for the current fiscal year.

Expeditors International of Washington Dividend Announcement

The company also recently announced a Semi-Annual dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.69 per share. This represents a yield of 1.2%. The ex-dividend date is Thursday, November 30th. Expeditors International of Washington’s payout ratio is 26.09%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EXPD. JPMorgan Chase & Co. decreased their price target on shares of Expeditors International of Washington from $110.00 to $107.00 and set an “underweight” rating on the stock in a report on Wednesday, November 8th. Morgan Stanley decreased their price target on shares of Expeditors International of Washington from $85.00 to $84.00 and set an “underweight” rating on the stock in a report on Monday, November 13th. Susquehanna reduced their target price on shares of Expeditors International of Washington from $115.00 to $109.00 and set a “neutral” rating on the stock in a report on Wednesday, November 8th. Stephens lifted their target price on shares of Expeditors International of Washington from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, August 9th. Finally, StockNews.com began coverage on shares of Expeditors International of Washington in a report on Thursday, October 5th. They set a “hold” rating on the stock. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $104.44.

Expeditors International of Washington Company Profile

Expeditors International of Washington, Inc, together with its subsidiaries, 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, specialized cargo monitoring and tracking, and other supply chain solutions.