Ruane Cunniff & Goldfarb L.P. Reduces Stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Ruane Cunniff & Goldfarb L.P. reduced its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 66.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,402 shares of the transportation company’s stock after selling 67,730 shares during the quarter. Expeditors International of Washington makes up approximately 0.1% of Ruane Cunniff & Goldfarb L.P.’s investment portfolio, making the stock its 20th largest position. Ruane Cunniff & Goldfarb L.P.’s holdings in Expeditors International of Washington were worth $4,520,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Hara Capital LLC purchased a new stake in Expeditors International of Washington in the 3rd quarter valued at $26,000. Innealta Capital LLC acquired a new position in shares of Expeditors International of Washington in the 2nd quarter valued at $31,000. Family Firm Inc. acquired a new position in shares of Expeditors International of Washington in the 2nd quarter valued at $35,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Expeditors International of Washington in the 2nd quarter valued at $52,000. Finally, Maia Wealth LLC acquired a new position in shares of Expeditors International of Washington in the 3rd quarter valued at $59,000. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

Expeditors International of Washington Trading Down 0.3 %

EXPD opened at $121.25 on Thursday. The firm has a market cap of $16.97 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 3.51 and a beta of 0.98. The stock’s 50-day moving average price is $121.84 and its 200 day moving average price is $121.90. Expeditors International of Washington, Inc. has a 12-month low of $111.20 and a 12-month high of $131.59.

Expeditors International of Washington (NASDAQ:EXPD) last posted its quarterly earnings results on Tuesday, November 5th. The transportation company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.30. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $2.47 billion. Expeditors International of Washington had a return on equity of 32.12% and a net margin of 7.39%. Expeditors International of Washington’s revenue for the quarter was up 37.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.16 EPS. On average, research analysts forecast that Expeditors International of Washington, Inc. will post 5.37 earnings per share for the current year.

Expeditors International of Washington Dividend Announcement

The business also recently declared a semi-annual dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.73 dividend. This represents a yield of 1.2%. The ex-dividend date is Monday, December 2nd. Expeditors International of Washington’s dividend payout ratio is currently 28.46%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EXPD. Wolfe Research lowered Expeditors International of Washington from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 9th. TD Cowen upped their price target on Expeditors International of Washington from $106.00 to $108.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Benchmark reaffirmed a “hold” rating on shares of Expeditors International of Washington in a research note on Wednesday, August 7th. Barclays upped their price target on Expeditors International of Washington from $105.00 to $110.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. Finally, UBS Group raised Expeditors International of Washington from a “sell” rating to a “neutral” rating and upped their price target for the company from $95.00 to $137.00 in a research note on Thursday, August 1st. Four research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, Expeditors International of Washington has a consensus rating of “Hold” and an average target price of $118.44.

Expeditors International of Washington Company Profile

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.