Expeditors International of Washington, Inc. $EXPD Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 9.6% during the second quarter, Holdings Channel reports. The institutional investor owned 835,699 shares of the transportation company’s stock after selling 88,893 shares during the period. Bank of New York Mellon Corp’s holdings in Expeditors International of Washington were worth $95,479,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Boston Partners increased its stake in shares of Expeditors International of Washington by 13.1% during the first quarter. Boston Partners now owns 4,295,924 shares of the transportation company’s stock valued at $516,385,000 after acquiring an additional 498,212 shares during the period. Invesco Ltd. boosted its stake in Expeditors International of Washington by 23.4% during the 1st quarter. Invesco Ltd. now owns 3,039,899 shares of the transportation company’s stock valued at $365,548,000 after purchasing an additional 576,468 shares in the last quarter. Baird Financial Group Inc. boosted its stake in Expeditors International of Washington by 4.8% during the 1st quarter. Baird Financial Group Inc. now owns 1,845,102 shares of the transportation company’s stock valued at $221,874,000 after purchasing an additional 84,556 shares in the last quarter. Marshfield Associates increased its position in shares of Expeditors International of Washington by 0.8% during the 1st quarter. Marshfield Associates now owns 1,841,746 shares of the transportation company’s stock valued at $221,470,000 after purchasing an additional 14,127 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Expeditors International of Washington by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,359,561 shares of the transportation company’s stock worth $163,476,000 after buying an additional 36,312 shares in the last quarter. 94.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EXPD. Barclays raised their target price on Expeditors International of Washington from $105.00 to $110.00 and gave the company an “underweight” rating in a research note on Thursday, September 11th. TD Cowen upped their price target on shares of Expeditors International of Washington from $111.00 to $131.00 and gave the company a “sell” rating in a report on Wednesday. Truist Financial lifted their price objective on shares of Expeditors International of Washington from $120.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday. Stifel Nicolaus increased their target price on shares of Expeditors International of Washington from $114.00 to $130.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Bank of America upgraded shares of Expeditors International of Washington from an “underperform” rating to a “neutral” rating and set a $142.00 target price for the company in a report on Wednesday. Eight equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Expeditors International of Washington currently has an average rating of “Reduce” and an average price target of $128.78.

Insider Transactions at Expeditors International of Washington

In other news, VP Jeffrey F. Dickerman sold 1,500 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $134.17, for a total value of $201,255.00. Following the completion of the sale, the vice president owned 6,151 shares in the company, valued at $825,279.67. This represents a 19.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.69% of the stock is currently owned by company insiders.

Expeditors International of Washington Price Performance

Expeditors International of Washington stock opened at $137.28 on Friday. The firm’s 50 day simple moving average is $121.97 and its 200-day simple moving average is $117.38. The company has a market cap of $18.63 billion, a P/E ratio of 24.00, a price-to-earnings-growth ratio of 5.00 and a beta of 1.09. Expeditors International of Washington, Inc. has a fifty-two week low of $100.47 and a fifty-two week high of $140.72.

Expeditors International of Washington Dividend Announcement

The company also recently announced a dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.77 per share. This represents a yield of 113.0%. The ex-dividend date of this dividend is Monday, December 1st. Expeditors International of Washington’s payout ratio is 25.12%.

Expeditors International of Washington 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.