First Manhattan CO. LLC. Invests $430,000 in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

First Manhattan CO. LLC. acquired a new position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,879 shares of the transportation company’s stock, valued at approximately $430,000.

Other hedge funds have also made changes to their positions in the company. First Eagle Investment Management LLC raised its position in shares of Expeditors International of Washington by 32.0% in the 4th quarter. First Eagle Investment Management LLC now owns 4,070,429 shares of the transportation company’s stock worth $450,881,000 after buying an additional 987,233 shares during the period. Norges Bank purchased a new position in shares of Expeditors International of Washington in the 4th quarter worth about $107,863,000. Boston Partners lifted its stake in shares of Expeditors International of Washington by 29.7% in the 4th quarter. Boston Partners now owns 3,797,712 shares of the transportation company’s stock valued at $420,693,000 after purchasing an additional 869,637 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Expeditors International of Washington by 33.8% in the 4th quarter. First Trust Advisors LP now owns 2,734,816 shares of the transportation company’s stock valued at $302,936,000 after purchasing an additional 690,539 shares in the last quarter. Finally, Madison Investment Advisors LLC acquired a new position in shares of Expeditors International of Washington in the 4th quarter valued at about $55,036,000. Institutional investors and hedge funds own 94.02% of the company’s stock.

Expeditors International of Washington Stock Performance

Shares of NASDAQ:EXPD opened at $109.27 on Monday. The company has a market cap of $15.05 billion, a P/E ratio of 19.10, a PEG ratio of 5.00 and a beta of 1.09. Expeditors International of Washington, Inc. has a one year low of $100.47 and a one year high of $131.59. The business’s 50-day simple moving average is $112.78 and its 200 day simple moving average is $114.81.

Expeditors International of Washington Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.77 per share. This is an increase from Expeditors International of Washington’s previous semi-annual dividend of $0.73. This represents a dividend yield of 1.4%. The ex-dividend date is Monday, June 2nd. Expeditors International of Washington’s dividend payout ratio (DPR) is presently 25.58%.

Insider Activity at Expeditors International of Washington

In other Expeditors International of Washington news, VP Jeffrey F. Dickerman sold 1,250 shares of Expeditors International of Washington stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $117.54, for a total transaction of $146,925.00. Following the sale, the vice president now directly owns 7,296 shares in the company, valued at $857,571.84. The trade was a 14.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on EXPD. UBS Group reduced their price objective on Expeditors International of Washington from $128.00 to $117.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. JPMorgan Chase & Co. reduced their price objective on Expeditors International of Washington from $114.00 to $108.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 19th. Truist Financial reduced their price objective on Expeditors International of Washington from $110.00 to $105.00 and set a “hold” rating on the stock in a research note on Thursday, April 24th. Bank of America reduced their price objective on Expeditors International of Washington from $129.00 to $120.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Stifel Nicolaus reduced their price objective on Expeditors International of Washington from $122.00 to $117.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. According to data from MarketBeat, Expeditors International of Washington currently has a consensus rating of “Hold” and an average target price of $113.70.

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.