Sumitomo Mitsui Asset Management Company LTD Has $1.02 Million Stake in Expeditors International of Washington (EXPD)

Sumitomo Mitsui Asset Management Company LTD lifted its position in Expeditors International of Washington (NASDAQ:EXPD) by 15.4% during the 1st quarter, HoldingsChannel reports. The fund owned 13,500 shares of the transportation company’s stock after buying an additional 1,806 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Expeditors International of Washington were worth $1,024,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in EXPD. JPMorgan Chase & Co. boosted its stake in Expeditors International of Washington by 16.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 561,568 shares of the transportation company’s stock worth $41,291,000 after acquiring an additional 81,098 shares during the last quarter. Legal & General Group Plc increased its holdings in Expeditors International of Washington by 4.4% during the third quarter. Legal & General Group Plc now owns 1,129,719 shares of the transportation company’s stock worth $83,026,000 after buying an additional 47,324 shares during the last quarter. Vanguard Group Inc increased its holdings in Expeditors International of Washington by 1.7% during the third quarter. Vanguard Group Inc now owns 20,535,471 shares of the transportation company’s stock worth $1,509,974,000 after buying an additional 336,122 shares during the last quarter. DNB Asset Management AS increased its holdings in Expeditors International of Washington by 6.6% during the fourth quarter. DNB Asset Management AS now owns 25,792 shares of the transportation company’s stock worth $1,756,000 after buying an additional 1,595 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in Expeditors International of Washington by 20.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 30,512 shares of the transportation company’s stock worth $2,078,000 after buying an additional 5,285 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Daniel R. Wall sold 9,109 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $75.25, for a total transaction of $685,452.25. Following the completion of the sale, the insider now owns 40,079 shares of the company’s stock, valued at $3,015,944.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Bradley S. Powell sold 4,524 shares of the company’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $75.26, for a total transaction of $340,476.24. The disclosure for this sale can be found here. Insiders have sold 23,458 shares of company stock valued at $1,767,924 in the last ninety days. 1.20% of the stock is currently owned by company insiders.

Shares of NASDAQ:EXPD traded down $1.31 on Wednesday, hitting $72.64. The company had a trading volume of 8,626 shares, compared to its average volume of 1,110,340. Expeditors International of Washington has a 1-year low of $62.90 and a 1-year high of $80.69. The company has a market cap of $12.82 billion, a P/E ratio of 20.81 and a beta of 0.82. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.22 and a quick ratio of 2.22.

Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings data on Tuesday, May 7th. The transportation company reported $0.80 EPS for the quarter, missing the Thomson Reuters’ 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 net margin of 7.49% and a return on equity of 31.25%. Expeditors International of Washington’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 earnings per share. As a group, equities research analysts expect that Expeditors International of Washington will post 3.52 earnings per share for the current year.

The company also recently disclosed a semiannual dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a dividend of $0.50 per share. This is a boost from Expeditors International of Washington’s previous semiannual dividend of $0.45. The ex-dividend date is Friday, May 31st. This represents a yield of 1.35%. Expeditors International of Washington’s dividend payout ratio is currently 25.86%.

EXPD has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Expeditors International of Washington from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. ValuEngine upgraded shares of Expeditors International of Washington from a “hold” rating to a “buy” rating in a report on Friday, March 15th. Stifel Nicolaus set a $77.00 target price on shares of Expeditors International of Washington and gave the stock a “hold” rating in a report on Friday, February 22nd. Cowen restated a “market perform” rating and set a $78.00 target price (up from $75.00) on shares of Expeditors International of Washington in a report on Wednesday, February 20th. Finally, Seaport Global Securities restated a “neutral” rating on shares of Expeditors International of Washington in a report on Friday, May 17th. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Expeditors International of Washington presently has a consensus rating of “Hold” and an average price target of $73.71.

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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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