The 135 Shares of Expeditors International of Washington Inc. (EXPD) are sold by Sumitomo Mitsui Asset Management Company LTD

The 135 Shares of Expeditors International of Washington Inc. (EXPD) are sold by Sumitomo Mitsui Asset Management Company LTD

Sumitomo Mitsui Asset Management Company LTD reduced its stake in Expeditors International of Washington Inc. (NASDAQ:EXPD) by 0.9% during the third quarter, Holdings Channel reports. The institutional investor owned 14,164 shares of the company’s stock after selling 135 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Expeditors International of Washington were worth $729,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of EXPD. BlackRock Fund Advisors increased its stake in Expeditors International of Washington by 30.3% in the second quarter. BlackRock Fund Advisors now owns 4,606,088 shares of the company’s stock valued at $225,883,000 after buying an additional 1,071,140 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in Expeditors International of Washington by 6.1% in the second quarter. Loomis Sayles & Co. L P now owns 12,774,353 shares of the company’s stock valued at $626,454,000 after buying an additional 729,235 shares in the last quarter. Janus Capital Management LLC increased its stake in Expeditors International of Washington by 22.5% in the second quarter. Janus Capital Management LLC now owns 3,556,739 shares of the company’s stock valued at $174,422,000 after buying an additional 653,220 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in Expeditors International of Washington during the second quarter valued at $22,744,000. Finally, Vanguard Group Inc. increased its stake in Expeditors International of Washington by 2.2% in the second quarter. Vanguard Group Inc. now owns 17,644,218 shares of the company’s stock valued at $865,272,000 after buying an additional 386,771 shares in the last quarter. 92.12% of the stock is owned by institutional investors and hedge funds.

Expeditors International of Washington Inc. (NASDAQ:EXPD) opened at 51.30 on Monday. The stock has a market cap of $9.29 billion, a PE ratio of 21.45 and a beta of 0.78. Expeditors International of Washington Inc. has a 52-week low of $40.41 and a 52-week high of $52.58. The firm has a 50 day moving average of $50.82 and a 200-day moving average of $49.85.

Expeditors International of Washington (NASDAQ:EXPD) last posted its earnings results on Tuesday, August 2nd. The company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.04. The company earned $1.50 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Expeditors International of Washington had a net margin of 7.25% and a return on equity of 25.10%. Expeditors International of Washington’s quarterly revenue was down 12.8% on a year-over-year basis. During the same period last year, the company posted $0.61 earnings per share. Equities analysts anticipate that Expeditors International of Washington Inc. will post $2.43 earnings per share for the current fiscal year.

Several analysts have weighed in on EXPD shares. Zacks Investment Research downgraded shares of Expeditors International of Washington from a “buy” rating to a “hold” rating in a research note on Tuesday, October 4th. Stifel Nicolaus downgraded shares of Expeditors International of Washington from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. They noted that the move was a valuation call. Wolfe Research downgraded shares of Expeditors International of Washington from a “peer perform” rating to an “underperform” rating in a research note on Wednesday, August 3rd. Finally, Credit Suisse Group AG reissued a “sell” rating and issued a $46.00 price target on shares of Expeditors International of Washington in a research note on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $50.91.

In related news, Director Michael J. Malone sold 26,646 shares of the firm’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $51.00, for a total transaction of $1,358,946.00. Following the completion of the transaction, the director now directly owns 108,786 shares of the company’s stock, valued at $5,548,086. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.86% of the company’s stock.

About Expeditors International of Washington

Expeditors International of Washington, Inc is a logistics company. The Company is a third party logistics provider, and purchases cargo space from carriers, including airlines and ocean shipping lines on a volume basis and resells that space to its customers. The Company provides a range of customer solutions, such as order management, time-definite transportation, warehousing and distribution, temperature-controlled transit, cargo insurance and customized logistics solutions.

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