State Board of Administration of Florida Retirement System Decreases Stake in Expeditors International of Washington (NASDAQ:EXPD)

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State Board of Administration of Florida Retirement System lowered its position in Expeditors International of Washington (NASDAQ:EXPD) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 260,706 shares of the transportation company’s stock after selling 4,312 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.15% of Expeditors International of Washington worth $19,777,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Comerica Bank boosted its stake in Expeditors International of Washington by 1.6% in the 2nd quarter. Comerica Bank now owns 48,958 shares of the transportation company’s stock worth $3,606,000 after purchasing an additional 770 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Expeditors International of Washington during the 2nd quarter valued at about $1,934,000. Envestnet Asset Management Inc. boosted its position in shares of Expeditors International of Washington by 7.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 447,672 shares of the transportation company’s stock valued at $33,960,000 after acquiring an additional 32,012 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its position in shares of Expeditors International of Washington by 7.0% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 13,985 shares of the transportation company’s stock valued at $1,056,000 after acquiring an additional 910 shares during the last quarter. Finally, FinTrust Capital Advisors LLC boosted its position in shares of Expeditors International of Washington by 457.8% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 926 shares of the transportation company’s stock valued at $70,000 after acquiring an additional 760 shares during the last quarter. 92.98% of the stock is owned by institutional investors.

A number of brokerages have recently issued reports on EXPD. Goldman Sachs Group began coverage on Expeditors International of Washington in a research report on Wednesday, July 10th. They set a “sell” rating and a $70.00 price target for the company. Loop Capital began coverage on Expeditors International of Washington in a research report on Thursday, May 30th. They set a “hold” rating and a $78.00 price target for the company. Stifel Nicolaus dropped their price target on Expeditors International of Washington from $73.00 to $72.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Zacks Investment Research upgraded Expeditors International of Washington from a “sell” rating to a “hold” rating and set a $77.00 price target for the company in a research report on Friday, August 9th. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of Expeditors International of Washington in a research report on Friday, May 17th. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Expeditors International of Washington presently has an average rating of “Hold” and a consensus target price of $73.00.

NASDAQ:EXPD opened at $68.32 on Friday. The business has a 50 day moving average of $73.42 and a 200 day moving average of $74.70. The company has a market capitalization of $12.06 billion, a price-to-earnings ratio of 19.63 and a beta of 0.90. Expeditors International of Washington has a 1-year low of $62.90 and a 1-year high of $80.69. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.12 and a quick ratio of 2.12.

Expeditors International of Washington (NASDAQ:EXPD) last released its earnings results on Tuesday, August 6th. The transportation company reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.08. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.07 billion. Expeditors International of Washington had a return on equity of 31.26% and a net margin of 7.57%. Expeditors International of Washington’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS. As a group, sell-side analysts anticipate that Expeditors International of Washington will post 3.52 EPS for the current year.

Expeditors International of Washington Company Profile

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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Institutional Ownership by Quarter for Expeditors International of Washington (NASDAQ:EXPD)

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