New York Life Investment Management LLC Cuts Stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

New York Life Investment Management LLC lessened its holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,941 shares of the transportation company’s stock after selling 302 shares during the quarter. New York Life Investment Management LLC’s holdings in Expeditors International of Washington were worth $2,918,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. CVA Family Office LLC purchased a new stake in shares of Expeditors International of Washington during the fourth quarter valued at approximately $35,000. BKM Wealth Management LLC bought a new position in shares of Expeditors International of Washington during the fourth quarter valued at approximately $37,000. Planned Solutions Inc. purchased a new stake in Expeditors International of Washington in the fourth quarter worth $37,000. Fortitude Family Office LLC bought a new stake in Expeditors International of Washington in the fourth quarter valued at $38,000. Finally, Bruce G. Allen Investments LLC purchased a new position in Expeditors International of Washington during the 4th quarter valued at $49,000. 94.02% of the stock is owned by institutional investors.

Insider Activity at Expeditors International of Washington

In other news, VP Jeffrey F. Dickerman sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $122.63, for a total value of $245,260.00. Following the completion of the transaction, the vice president now owns 5,728 shares of the company’s stock, valued at $702,424.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.69% of the stock is owned by company insiders.

Expeditors International of Washington Trading Up 0.9 %

NASDAQ EXPD opened at $114.96 on Monday. Expeditors International of Washington, Inc. has a 12 month low of $107.03 and a 12 month high of $131.17. The stock’s fifty day moving average price is $117.91 and its 200-day moving average price is $120.35. The stock has a market cap of $16.31 billion, a P/E ratio of 22.99, a P/E/G ratio of 8.49 and a beta of 1.00.

Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings data on Tuesday, February 20th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.12). Expeditors International of Washington had a net margin of 8.10% and a return on equity of 28.43%. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period last year, the company posted $1.38 earnings per share. The business’s revenue was down 33.8% compared to the same quarter last year. As a group, analysts forecast that Expeditors International of Washington, Inc. will post 4.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EXPD has been the subject of several research analyst reports. Stifel Nicolaus raised their target price on shares of Expeditors International of Washington from $114.00 to $117.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Bank of America initiated coverage on shares of Expeditors International of Washington in a report on Friday, March 15th. They issued a “neutral” rating and a $126.00 price objective for the company. JPMorgan Chase & Co. upped their target price on Expeditors International of Washington from $106.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, April 9th. Finally, BNP Paribas lowered Expeditors International of Washington from a “neutral” rating to an “underperform” rating and set a $116.00 target price for the company. in a research report on Thursday, January 11th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $110.57.

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.