Norges Bank Acquires New Stake in Expeditors International of Washington, Inc. $EXPD

Norges Bank acquired a new stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) in the fourth quarter, HoldingsChannel reports. The firm acquired 1,212,798 shares of the transportation company’s stock, valued at approximately $180,719,000.

Other large investors also recently bought and sold shares of the company. Elyxium Wealth LLC purchased a new position in Expeditors International of Washington during the 4th quarter valued at $28,000. Community Bank N.A. purchased a new position in Expeditors International of Washington during the 3rd quarter valued at $34,000. Geneos Wealth Management Inc. boosted its holdings in Expeditors International of Washington by 132.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 230 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 131 shares during the period. Oakworth Capital Inc. boosted its holdings in Expeditors International of Washington by 1,723.1% during the 4th quarter. Oakworth Capital Inc. now owns 237 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 224 shares during the period. Finally, eCIO Inc. purchased a new position in Expeditors International of Washington during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on EXPD shares. UBS Group boosted their price objective on Expeditors International of Washington from $166.00 to $175.00 and gave the company a “buy” rating in a report on Friday, May 8th. Wolfe Research upgraded Expeditors International of Washington from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Susquehanna upped their target price on Expeditors International of Washington from $142.00 to $156.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. upped their target price on Expeditors International of Washington from $135.00 to $139.00 and gave the stock an “underweight” rating in a report on Wednesday, May 6th. Finally, Zacks Research upgraded Expeditors International of Washington from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Expeditors International of Washington currently has a consensus rating of “Hold” and a consensus price target of $137.30.

Expeditors International of Washington Trading Up 0.7%

Shares of EXPD stock opened at $159.04 on Thursday. Expeditors International of Washington, Inc. has a twelve month low of $110.48 and a twelve month high of $167.19. The stock has a market capitalization of $20.80 billion, a price-to-earnings ratio of 27.80, a P/E/G ratio of 5.00 and a beta of 1.05. The stock has a fifty day simple moving average of $150.63 and a two-hundred day simple moving average of $150.98.

Expeditors International of Washington (NASDAQ:EXPD) last issued its earnings results on Tuesday, May 5th. The transportation company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.38. Expeditors International of Washington had a return on equity of 36.16% and a net margin of 7.64%.During the same period in the previous year, the business posted $1.47 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. Research analysts predict that Expeditors International of Washington, Inc. will post 5.39 EPS for the current fiscal year.

Expeditors International of Washington Dividend Announcement

The company also recently announced a dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.81 dividend. This represents a dividend yield of 101.0%. The ex-dividend date is Monday, June 1st. Expeditors International of Washington’s dividend payout ratio is currently 26.21%.

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.