Douglas Lane & Associates LLC decreased its stake in Expeditors International of Washington Inc. (NASDAQ:EXPD) by 6.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 290,051 shares of the company’s stock after selling 18,367 shares during the period. Douglas Lane & Associates LLC’s holdings in Expeditors International of Washington were worth $14,224,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Creative Planning boosted its position in Expeditors International of Washington by 10.2% in the second quarter. Creative Planning now owns 2,607 shares of the company’s stock worth $128,000 after buying an additional 241 shares during the period. Seven Eight Capital LLC purchased a new position in Expeditors International of Washington during the first quarter worth about $165,000. Dearborn Partners LLC purchased a new position in Expeditors International of Washington during the second quarter worth about $204,000. Prudential PLC purchased a new position in Expeditors International of Washington during the first quarter worth about $298,000. Finally, Atria Investments LLC purchased a new position in Expeditors International of Washington during the second quarter worth about $316,000. 92.22% of the stock is currently owned by institutional investors and hedge funds.

Shares of Expeditors International of Washington Inc. (NASDAQ:EXPD) traded up 0.28% during midday trading on Tuesday, reaching $50.19. 1,059,882 shares of the company traded hands. Expeditors International of Washington Inc. has a 12-month low of $40.41 and a 12-month high of $52.58. The company has a 50-day moving average of $50.99 and a 200 day moving average of $49.32. The firm has a market capitalization of $9.09 billion, a PE ratio of 20.98 and a beta of 0.85.

Expeditors International of Washington (NASDAQ:EXPD) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. Expeditors International of Washington had a net margin of 7.25% and a return on equity of 25.10%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the business earned $0.61 earnings per share. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. On average, equities analysts forecast that Expeditors International of Washington Inc. will post $2.43 earnings per share for the current year.

EXPD has been the subject of a number of research reports. Zacks Investment Research upgraded Expeditors International of Washington from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Tuesday, September 13th. Stifel Nicolaus upgraded Expeditors International of Washington from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Thursday, August 25th. Credit Suisse Group AG restated a “sell” rating and issued a $46.00 price objective on shares of Expeditors International of Washington in a report on Wednesday, August 3rd. Finally, Wolfe Research cut Expeditors International of Washington from a “peer perform” rating to an “underperform” rating in a report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $50.91.

In other news, Director Michael J. Malone sold 26,646 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $51.00, for a total transaction of $1,358,946.00. Following the transaction, the director now owns 108,786 shares in the company, valued at $5,548,086. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.86% of the company’s stock.

About Expeditors International of Washington

Expeditors International of Washington, Inc is a logistics company. The Company is a third party logistics provider, and purchases cargo space from carriers, including airlines and ocean shipping lines on a volume basis and resells that space to its customers. The Company provides a range of customer solutions, such as order management, time-definite transportation, warehousing and distribution, temperature-controlled transit, cargo insurance and customized logistics solutions.

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