CIBC Asset Management Inc Increases Position in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

CIBC Asset Management Inc lifted its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 8.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,643 shares of the transportation company’s stock after purchasing an additional 1,532 shares during the period. CIBC Asset Management Inc’s holdings in Expeditors International of Washington were worth $2,712,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Boston Partners lifted its stake in Expeditors International of Washington by 2.4% in the 1st quarter. Boston Partners now owns 2,936,736 shares of the transportation company’s stock valued at $356,923,000 after buying an additional 67,800 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of Expeditors International of Washington by 3.0% in the second quarter. First Eagle Investment Management LLC now owns 2,777,134 shares of the transportation company’s stock valued at $346,559,000 after acquiring an additional 82,107 shares in the last quarter. Marshfield Associates boosted its stake in shares of Expeditors International of Washington by 0.3% during the second quarter. Marshfield Associates now owns 1,811,149 shares of the transportation company’s stock valued at $226,013,000 after acquiring an additional 5,712 shares during the last quarter. ProShare Advisors LLC increased its position in Expeditors International of Washington by 16.8% during the 2nd quarter. ProShare Advisors LLC now owns 1,582,963 shares of the transportation company’s stock worth $197,538,000 after purchasing an additional 227,671 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Expeditors International of Washington by 7.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,278,815 shares of the transportation company’s stock valued at $159,595,000 after purchasing an additional 85,393 shares during the last quarter. Institutional investors and hedge funds own 94.02% of the company’s stock.

Expeditors International of Washington Stock Performance

Shares of EXPD stock opened at $118.01 on Wednesday. The stock has a market capitalization of $16.52 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 3.45 and a beta of 0.98. Expeditors International of Washington, Inc. has a one year low of $111.20 and a one year high of $131.59. The company’s 50-day simple moving average is $121.94 and its 200-day simple moving average is $121.74.

Expeditors International of Washington (NASDAQ:EXPD) last issued its quarterly earnings results on Tuesday, November 5th. The transportation company reported $1.63 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the business earned $1.16 EPS. The business’s quarterly revenue was up 37.0% on a year-over-year basis. As a group, research analysts forecast that Expeditors International of Washington, Inc. will post 5.37 EPS for the current year.

Expeditors International of Washington Announces Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.73 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a yield of 1.2%. Expeditors International of Washington’s dividend payout ratio is currently 28.46%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Benchmark reiterated a “hold” rating on shares of Expeditors International of Washington in a report on Wednesday, August 7th. Barclays increased their price objective on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. TD Cowen upped their price target on shares of Expeditors International of Washington from $106.00 to $108.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. UBS Group raised shares of Expeditors International of Washington from a “sell” rating to a “neutral” rating and increased their price target for the stock from $95.00 to $137.00 in a research note on Thursday, August 1st. Finally, Wolfe Research cut shares of Expeditors International of Washington from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $118.44.

Expeditors International of Washington Company 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.