Welch & Forbes LLC Sells 4,487 Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Welch & Forbes LLC cut its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,321 shares of the transportation company’s stock after selling 4,487 shares during the period. Welch & Forbes LLC owned about 0.09% of Expeditors International of Washington worth $16,195,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CVA Family Office LLC acquired a new position in shares of Expeditors International of Washington during the fourth quarter worth approximately $35,000. BKM Wealth Management LLC bought a new position in Expeditors International of Washington in the 4th quarter valued at $37,000. Planned Solutions Inc. bought a new position in Expeditors International of Washington in the 4th quarter valued at $37,000. Fortitude Family Office LLC bought a new stake in shares of Expeditors International of Washington during the fourth quarter worth $38,000. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Expeditors International of Washington during the fourth quarter valued at $49,000. 94.02% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Jeffrey F. Dickerman sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $122.63, for a total value of $245,260.00. Following the sale, the vice president now directly owns 5,728 shares of the company’s stock, valued at approximately $702,424.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EXPD. BNP Paribas cut Expeditors International of Washington from a “neutral” rating to an “underperform” rating and set a $116.00 price objective for the company. in a report on Thursday, January 11th. Bank of America initiated coverage on shares of Expeditors International of Washington in a report on Friday, March 15th. They issued a “neutral” rating and a $126.00 price objective on the stock. Stifel Nicolaus upped their target price on shares of Expeditors International of Washington from $114.00 to $117.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. Finally, JPMorgan Chase & Co. raised their price target on Expeditors International of Washington from $106.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 9th. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $110.57.

Expeditors International of Washington Price Performance

Shares of Expeditors International of Washington stock traded up $0.56 on Monday, hitting $115.52. The company had a trading volume of 2,205,489 shares, compared to its average volume of 1,221,885. Expeditors International of Washington, Inc. has a twelve month low of $107.03 and a twelve month high of $131.17. The stock has a 50-day moving average of $117.91 and a 200-day moving average of $120.37. The firm has a market capitalization of $16.39 billion, a P/E ratio of 22.99, a P/E/G ratio of 8.49 and a beta of 1.00.

Expeditors International of Washington (NASDAQ:EXPD) last released its earnings results on Tuesday, February 20th. The transportation company reported $1.09 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the firm posted $1.38 EPS. The company’s revenue was down 33.8% on a year-over-year basis. Equities analysts predict that Expeditors International of Washington, Inc. will post 4.75 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.