Municipal Employees Retirement System of Michigan cut its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,880 shares of the transportation company’s stock after selling 1,110 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Expeditors International of Washington were worth $1,490,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board increased its position in shares of Expeditors International of Washington by 10,555.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,918 shares of the transportation company’s stock valued at $115,000 after purchasing an additional 1,900 shares during the last quarter. Mosaic Family Wealth LLC increased its position in shares of Expeditors International of Washington by 3.8% during the 2nd quarter. Mosaic Family Wealth LLC now owns 2,536 shares of the transportation company’s stock valued at $143,000 after purchasing an additional 93 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Expeditors International of Washington by 22.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,605 shares of the transportation company’s stock valued at $147,000 after purchasing an additional 471 shares during the last quarter. Merriman Wealth Management LLC bought a new position in shares of Expeditors International of Washington during the 3rd quarter valued at about $208,000. Finally, Pacer Advisors Inc. increased its position in shares of Expeditors International of Washington by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 3,747 shares of the transportation company’s stock valued at $212,000 after purchasing an additional 286 shares during the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.

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EXPD has been the topic of several recent research reports. Stifel Nicolaus reiterated a “hold” rating and set a $52.00 price objective (down from $54.00) on shares of Expeditors International of Washington in a research report on Friday, August 11th. Barclays PLC increased their price objective on Expeditors International of Washington from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, October 2nd. Credit Suisse Group increased their price objective on Expeditors International of Washington from $51.00 to $56.00 and gave the company an “underperform” rating in a research report on Wednesday, November 8th. Cowen and Company restated a “market perform” rating and set a $58.00 price target (up from $54.00) on shares of Expeditors International of Washington in a research report on Wednesday, November 8th. Finally, The Goldman Sachs Group, Inc. initiated coverage on Expeditors International of Washington in a research report on Monday, November 13th. They set a “neutral” rating and a $59.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $59.38.

Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) opened at $59.13 on Friday. The firm has a market capitalization of $10,390.00, a P/E ratio of 24.85, a PEG ratio of 3.08 and a beta of 0.68. Expeditors International of Washington, Inc. has a 1 year low of $50.48 and a 1 year high of $62.63.

Expeditors International of Washington (NASDAQ:EXPD) last issued its quarterly earnings data on Tuesday, November 7th. The transportation company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.06. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.72 billion. Expeditors International of Washington had a return on equity of 22.32% and a net margin of 6.50%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company earned $0.59 EPS. equities analysts expect that Expeditors International of Washington, Inc. will post 2.41 EPS for the current year.

The firm also recently disclosed a semiannual dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a dividend yield of 1.4%. Expeditors International of Washington’s dividend payout ratio is currently 35.29%.

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

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