Expeditors International of Washington, Inc. (NASDAQ:EXPD) Stake Reduced by Oak Asset Management LLC

Oak Asset Management LLC reduced its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 2.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 20,684 shares of the transportation company’s stock after selling 575 shares during the period. Oak Asset Management LLC’s holdings in Expeditors International of Washington were worth $2,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in EXPD. Advisors Asset Management Inc. acquired a new position in shares of Expeditors International of Washington during the third quarter valued at $29,000. First Horizon Advisors Inc. increased its holdings in shares of Expeditors International of Washington by 53.8% during the first quarter. First Horizon Advisors Inc. now owns 263 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 92 shares during the period. CVA Family Office LLC acquired a new position in shares of Expeditors International of Washington during the fourth quarter valued at $35,000. BKM Wealth Management LLC acquired a new position in shares of Expeditors International of Washington during the fourth quarter valued at $37,000. Finally, Planned Solutions Inc. acquired a new position in Expeditors International of Washington during the fourth quarter worth about $37,000. 94.02% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Expeditors International of Washington news, VP Jeffrey F. Dickerman sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $122.63, for a total transaction of $245,260.00. Following the completion of the sale, the vice president now directly owns 5,728 shares in the company, valued at approximately $702,424.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on EXPD. BNP Paribas lowered Expeditors International of Washington from a “neutral” rating to an “underperform” rating and set a $116.00 target price on the stock. in a report on Thursday, January 11th. JPMorgan Chase & Co. lowered their target price on Expeditors International of Washington from $111.00 to $108.00 and set an “underweight” rating on the stock in a report on Tuesday, January 9th. Bank of America began coverage on Expeditors International of Washington in a report on Friday, March 15th. They set a “neutral” rating and a $126.00 target price on the stock. Finally, Stifel Nicolaus lifted their target price on Expeditors International of Washington from $114.00 to $117.00 and gave the stock a “hold” rating in a report on Wednesday, January 10th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $108.75.

Expeditors International of Washington Stock Performance

Shares of NASDAQ:EXPD traded up $0.40 during midday trading on Thursday, reaching $118.10. The company had a trading volume of 36,300 shares, compared to its average volume of 1,155,253. Expeditors International of Washington, Inc. has a 1-year low of $104.68 and a 1-year high of $131.17. The firm has a market cap of $16.76 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 8.76 and a beta of 0.99. The company has a fifty day simple moving average of $122.18 and a two-hundred day simple moving average of $120.42.

Expeditors International of Washington (NASDAQ:EXPD) last released its quarterly earnings results on Tuesday, February 20th. The transportation company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.12). Expeditors International of Washington had a net margin of 8.10% and a return on equity of 28.43%. The company had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the business earned $1.38 EPS. The company’s revenue for the quarter was down 33.8% compared to the same quarter last year. Analysts expect that Expeditors International of Washington, Inc. will post 4.71 EPS for the current year.

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.