Sawgrass Asset Management LLC Has $34.72 Million Position in Expeditors International of Washington (EXPD)

Sawgrass Asset Management LLC boosted its position in shares of Expeditors International of Washington (NASDAQ:EXPD) by 3.5% in the first quarter, HoldingsChannel.com reports. The firm owned 457,456 shares of the transportation company’s stock after purchasing an additional 15,491 shares during the period. Expeditors International of Washington accounts for 1.5% of Sawgrass Asset Management LLC’s investment portfolio, making the stock its 27th biggest holding. Sawgrass Asset Management LLC’s holdings in Expeditors International of Washington were worth $34,721,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXPD. Moody National Bank Trust Division acquired a new position in Expeditors International of Washington during the first quarter valued at approximately $25,000. JOYN Advisors Inc. grew its holdings in Expeditors International of Washington by 632.4% during the fourth quarter. JOYN Advisors Inc. now owns 498 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 430 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Expeditors International of Washington by 6,357.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,886,607 shares of the transportation company’s stock valued at $42,000 after purchasing an additional 2,841,903 shares during the period. CX Institutional acquired a new position in Expeditors International of Washington during the first quarter valued at approximately $50,000. Finally, Financial Gravity Companies Inc. acquired a new position in Expeditors International of Washington during the fourth quarter valued at approximately $53,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.

In other Expeditors International of Washington news, insider Philip M. Coughlin sold 544 shares of the stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $75.91, for a total transaction of $41,295.04. Following the sale, the insider now directly owns 21,220 shares in the company, valued at $1,610,810.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher J. Mcclincy sold 1,960 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $77.09, for a total transaction of $151,096.40. Following the sale, the vice president now owns 12,848 shares in the company, valued at $990,452.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,183 shares of company stock worth $1,972,217. 1.20% of the stock is owned by insiders.

Shares of EXPD traded up $0.46 during trading hours on Friday, hitting $74.83. The company had a trading volume of 24,477 shares, compared to its average volume of 1,108,813. The firm has a market capitalization of $12.61 billion, a PE ratio of 21.47 and a beta of 0.82. Expeditors International of Washington has a 12 month low of $62.90 and a 12 month high of $80.69. 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 (NASDAQ:EXPD) last released its quarterly earnings results on Tuesday, May 7th. The transportation company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.05). Expeditors International of Washington had a return on equity of 31.25% and a net margin of 7.49%. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the prior year, the business posted $0.76 earnings per share. Expeditors International of Washington’s revenue was up 8.9% compared to the same quarter last year. Analysts predict that Expeditors International of Washington will post 3.52 earnings per share for the current fiscal year.

The firm also recently declared a semiannual dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a dividend of $0.50 per share. This represents a yield of 1.35%. This is a positive change from Expeditors International of Washington’s previous semiannual dividend of $0.45. The ex-dividend date of this dividend is Friday, May 31st. Expeditors International of Washington’s dividend payout ratio (DPR) is currently 25.86%.

A number of research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Expeditors International of Washington from a “hold” rating to a “sell” rating in a report on Wednesday. BidaskClub cut shares of Expeditors International of Washington from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Cowen reiterated a “market perform” rating and issued a $76.00 price target (down previously from $78.00) on shares of Expeditors International of Washington in a report on Wednesday, May 8th. ValuEngine cut shares of Expeditors International of Washington from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Stifel Nicolaus set a $77.00 price target on shares of Expeditors International of Washington and gave the company a “hold” rating in a report on Friday, February 22nd. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $74.29.

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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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Want to see what other hedge funds are holding EXPD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Expeditors International of Washington (NASDAQ:EXPD).

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

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