JPMorgan Chase & Co. Cuts Expeditors International of Washington (NASDAQ:EXPD) Price Target to $132.00

Expeditors International of Washington (NASDAQ:EXPD) had its price target cut by JPMorgan Chase & Co. from $134.00 to $132.00 in a research note released on Monday,Benzinga reports. They currently have an underweight rating on the transportation company’s stock.

Other equities analysts also recently issued research reports about the company. TD Cowen raised their target price on Expeditors International of Washington from $111.00 to $131.00 and gave the company a “sell” rating in a research report on Wednesday, November 5th. Stifel Nicolaus boosted their price target on shares of Expeditors International of Washington from $130.00 to $136.00 and gave the stock a “hold” rating in a research report on Tuesday, December 16th. Truist Financial upped their price objective on shares of Expeditors International of Washington from $120.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, November 5th. Morgan Stanley raised their target price on shares of Expeditors International of Washington from $90.00 to $95.00 and gave the stock an “underweight” rating in a research note on Monday, December 8th. Finally, UBS Group upgraded Expeditors International of Washington from a “neutral” rating to a “buy” rating and upped their price target for the company from $138.00 to $166.00 in a research report on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $128.60.

Expeditors International of Washington Stock Up 0.8%

Shares of NASDAQ EXPD opened at $162.03 on Monday. The firm has a market cap of $21.72 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 5.00 and a beta of 1.14. The company’s 50-day simple moving average is $148.71 and its 200-day simple moving average is $129.67. Expeditors International of Washington has a 52-week low of $100.47 and a 52-week high of $162.45.

Expeditors International of Washington Announces Dividend

The firm also recently announced a dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a $0.77 dividend. The ex-dividend date was Monday, December 1st. This represents a yield of 105.0%. Expeditors International of Washington’s payout ratio is currently 25.12%.

Insider Buying and Selling at Expeditors International of Washington

In other news, Director Mark A. Emmert sold 5,400 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $135.25, for a total transaction of $730,350.00. Following the completion of the transaction, the director directly owned 6,468 shares in the company, valued at approximately $874,797. This represents a 45.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jeffrey F. Dickerman sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $134.17, for a total value of $201,255.00. Following the sale, the vice president directly owned 6,151 shares of the company’s stock, valued at $825,279.67. The trade was a 19.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Expeditors International of Washington

Large investors have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Expeditors International of Washington by 733.9% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,887,853 shares of the transportation company’s stock valued at $231,432,000 after acquiring an additional 1,661,457 shares in the last quarter. Norges Bank purchased a new position in shares of Expeditors International of Washington in the second quarter valued at approximately $111,222,000. Balyasny Asset Management L.P. purchased a new position in shares of Expeditors International of Washington in the third quarter valued at approximately $113,194,000. First Eagle Investment Management LLC grew its holdings in shares of Expeditors International of Washington by 17.1% in the second quarter. First Eagle Investment Management LLC now owns 6,279,825 shares of the transportation company’s stock valued at $717,470,000 after purchasing an additional 918,108 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Expeditors International of Washington by 64.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,920,927 shares of the transportation company’s stock worth $235,486,000 after buying an additional 749,993 shares during the period. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Expeditors International of Washington Company Profile

Expeditors International of Washington is a global logistics and freight forwarding company headquartered in Seattle, Washington. The firm specializes in providing tailored supply chain solutions that encompass air, ocean and ground transportation. Through an integrated service model, Expeditors coordinates and manages the movement of goods for a diverse customer base, including manufacturers, retailers and technology companies.

The company’s core offerings include customs brokerage, cargo insurance, distribution and warehousing services, as well as vendor consolidation and inventory management.