Expeditors International of Washington, Inc. (NASDAQ:EXPD) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lessened its holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 4.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 41,208 shares of the transportation company’s stock after selling 1,900 shares during the period. State of Michigan Retirement System’s holdings in Expeditors International of Washington were worth $5,142,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in EXPD. Crewe Advisors LLC acquired a new stake in shares of Expeditors International of Washington during the first quarter worth about $25,000. Optiver Holding B.V. acquired a new stake in shares of Expeditors International of Washington during the fourth quarter worth about $27,000. Family Firm Inc. acquired a new stake in shares of Expeditors International of Washington during the second quarter worth about $35,000. ORG Partners LLC lifted its holdings in shares of Expeditors International of Washington by 752.0% during the first quarter. ORG Partners LLC now owns 426 shares of the transportation company’s stock worth $51,000 after purchasing an additional 376 shares during the period. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Expeditors International of Washington during the fourth quarter worth about $55,000. Institutional investors and hedge funds own 94.02% of the company’s stock.

Insider Activity at Expeditors International of Washington

In related news, Director Mark A. Emmert sold 8,100 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $123.67, for a total value of $1,001,727.00. Following the completion of the transaction, the director now directly owns 14,085 shares of the company’s stock, valued at approximately $1,741,891.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.69% of the stock is owned by corporate insiders.

Expeditors International of Washington Stock Down 0.3 %

Shares of EXPD stock traded down $0.35 during trading hours on Tuesday, hitting $122.39. 22,895 shares of the company’s stock were exchanged, compared to its average volume of 1,265,201. The firm has a market cap of $17.29 billion, a P/E ratio of 25.99, a P/E/G ratio of 5.39 and a beta of 0.98. The firm has a 50 day moving average of $122.33 and a two-hundred day moving average of $120.35. Expeditors International of Washington, Inc. has a fifty-two week low of $107.03 and a fifty-two week high of $131.17.

Expeditors International of Washington (NASDAQ:EXPD) last announced its earnings results on Tuesday, August 6th. The transportation company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.02). The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.28 billion. Expeditors International of Washington had a return on equity of 28.89% and a net margin of 7.81%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.30 earnings per share. On average, equities analysts forecast that Expeditors International of Washington, Inc. will post 4.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EXPD. TD Cowen boosted their price target on Expeditors International of Washington from $111.00 to $112.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Stifel Nicolaus boosted their price target on Expeditors International of Washington from $112.00 to $114.00 and gave the company a “hold” rating in a report on Thursday, May 23rd. Bank of America boosted their price target on Expeditors International of Washington from $131.00 to $132.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Robert W. Baird boosted their price target on Expeditors International of Washington from $118.00 to $126.00 and gave the company a “neutral” rating in a report on Wednesday, July 3rd. Finally, Wolfe Research raised Expeditors International of Washington from an “underperform” rating to a “peer perform” rating in a report on Tuesday, May 28th. Two research analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $116.00.

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.