Pitcairn Co. Trims Holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Pitcairn Co. cut its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 62.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,149 shares of the transportation company's stock after selling 8,569 shares during the quarter. Pitcairn Co.'s holdings in Expeditors International of Washington were worth $677,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Hara Capital LLC purchased a new stake in shares of Expeditors International of Washington during the 3rd quarter worth approximately $26,000. Innealta Capital LLC purchased a new stake in shares of Expeditors International of Washington during the 2nd quarter worth approximately $31,000. Family Firm Inc. purchased a new stake in shares of Expeditors International of Washington during the 2nd quarter worth approximately $35,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Expeditors International of Washington during the 2nd quarter worth approximately $52,000. Finally, Maia Wealth LLC purchased a new stake in shares of Expeditors International of Washington during the 3rd quarter worth approximately $59,000. 94.02% of the stock is currently owned by institutional investors.

Expeditors International of Washington Trading Down 0.5 %

Shares of EXPD traded down $0.65 during midday trading on Tuesday, reaching $121.74. 896,657 shares of the stock were exchanged, compared to its average volume of 1,221,103. Expeditors International of Washington, Inc. has a 52 week low of $111.20 and a 52 week high of $131.59. The company's 50 day moving average is $121.88 and its two-hundred day moving average is $121.87. The company has a market capitalization of $17.04 billion, a P/E ratio of 23.73, a PEG ratio of 3.48 and a beta of 0.98.

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

Expeditors International of Washington Announces Dividend

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

Analyst Ratings Changes

Several analysts recently weighed in on EXPD shares. UBS Group upgraded Expeditors International of Washington from a "sell" rating to a "neutral" rating and increased their price target for the company from $95.00 to $137.00 in a report on Thursday, August 1st. Benchmark restated a "hold" rating on shares of Expeditors International of Washington in a report on Wednesday, August 7th. Wolfe Research lowered Expeditors International of Washington from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 9th. Barclays increased their price target on Expeditors International of Washington from $105.00 to $110.00 and gave the company an "underweight" rating in a report on Wednesday, November 6th. Finally, TD Cowen increased their price target on Expeditors International of Washington from $106.00 to $108.00 and gave the company a "sell" rating in a report on Wednesday, November 6th. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $118.44.

About Expeditors International of Washington

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.