Short Interest in Expeditors International of Washington (NASDAQ:EXPD) Declines By 6.4%

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Expeditors International of Washington (NASDAQ:EXPD) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 5,110,800 shares, a decline of 6.4% from the May 30th total of 5,460,400 shares. Approximately 3.0% of the company’s stock are sold short. Based on an average daily volume of 1,050,000 shares, the days-to-cover ratio is presently 4.9 days.

EXPD has been the subject of several research analyst reports. ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Seaport Global Securities restated a “neutral” rating on shares of Expeditors International of Washington in a research note on Friday, May 17th. Stifel Nicolaus set a $73.00 target price on Expeditors International of Washington and gave the company a “hold” rating in a research note on Monday, May 20th. BidaskClub upgraded Westport Fuel Systems from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Zacks Investment Research upgraded GALP ENERGIA SG/ADR from a “sell” rating to a “hold” rating in a research note on Monday, May 27th. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Expeditors International of Washington presently has an average rating of “Hold” and an average target price of $73.29.

NASDAQ EXPD traded down $0.05 during trading on Monday, hitting $74.10. The stock had a trading volume of 4,882 shares, compared to its average volume of 1,033,046. The firm has a market cap of $12.75 billion, a P/E ratio of 21.29 and a beta of 0.91. The company has a 50-day moving average price of $73.40. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.22 and a quick ratio of 2.22. Expeditors International of Washington has a 12 month low of $62.90 and a 12 month high of $80.69.

Expeditors International of Washington (NASDAQ:EXPD) last released its earnings results on Tuesday, May 7th. The transportation company reported $0.80 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.05). The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.99 billion. Expeditors International of Washington had a net margin of 7.49% and a return on equity of 31.25%. The company’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 EPS. Sell-side analysts expect that Expeditors International of Washington will post 3.45 EPS for the current year.

The company also recently announced a semiannual dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $0.50 dividend. This is a boost from Expeditors International of Washington’s previous semiannual dividend of $0.45. The ex-dividend date was Friday, May 31st. This represents a yield of 1.35%. Expeditors International of Washington’s payout ratio is presently 28.74%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Expeditors International of Washington during the 4th quarter worth approximately $114,445,000. AJO LP bought a new stake in Expeditors International of Washington in the 1st quarter valued at $27,841,000. APG Asset Management N.V. raised its stake in Expeditors International of Washington by 21.9% in the 4th quarter. APG Asset Management N.V. now owns 1,842,408 shares of the transportation company’s stock valued at $109,740,000 after acquiring an additional 331,000 shares during the period. Ronna Sue Cohen raised its stake in Expeditors International of Washington by 7,813.3% in the 1st quarter. Ronna Sue Cohen now owns 296,827 shares of the transportation company’s stock valued at $297,000 after acquiring an additional 293,076 shares during the period. Finally, Nordea Investment Management AB raised its stake in Expeditors International of Washington by 32.6% in the 4th quarter. Nordea Investment Management AB now owns 814,812 shares of the transportation company’s stock valued at $55,480,000 after acquiring an additional 200,241 shares during the period. Hedge funds and other institutional investors own 92.36% of the company’s stock.

About Expeditors International of Washington

Expeditors International of Washington, Inc provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. 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, 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, and other logistics solutions.

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