Morse Asset Management Inc decreased its holdings in Expeditors International of Washington (NASDAQ:EXPD) by 2.3% during the second quarter, HoldingsChannel.com reports. The firm owned 34,538 shares of the transportation company’s stock after selling 812 shares during the quarter. Morse Asset Management Inc’s holdings in Expeditors International of Washington were worth $2,620,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in EXPD. Geode Capital Management LLC increased its position in Expeditors International of Washington by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 2,625,188 shares of the transportation company’s stock valued at $178,482,000 after acquiring an additional 113,850 shares during the period. Millennium Management LLC acquired a new stake in shares of Expeditors International of Washington during the fourth quarter worth $660,000. DNB Asset Management AS increased its position in shares of Expeditors International of Washington by 1.5% during the first quarter. DNB Asset Management AS now owns 26,166 shares of the transportation company’s stock worth $1,986,000 after buying an additional 374 shares during the period. Virtu Financial LLC acquired a new stake in shares of Expeditors International of Washington during the first quarter worth $357,000. Finally, Tandem Investment Advisors Inc. increased its position in shares of Expeditors International of Washington by 7.9% during the first quarter. Tandem Investment Advisors Inc. now owns 178,279 shares of the transportation company’s stock worth $13,531,000 after buying an additional 13,012 shares during the period. Institutional investors and hedge funds own 91.78% of the company’s stock.

Shares of EXPD stock traded up $0.85 on Tuesday, hitting $71.94. The stock had a trading volume of 127,944 shares, compared to its average volume of 1,024,140. The company’s 50 day moving average is $74.36. The company has a market cap of $12.43 billion, a PE ratio of 20.63 and a beta of 0.90. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.12 and a current ratio of 2.12. Expeditors International of Washington has a 12-month low of $62.90 and a 12-month high of $80.69.

Expeditors International of Washington (NASDAQ:EXPD) last announced its earnings results on Tuesday, August 6th. The transportation company reported $0.88 EPS for the quarter, beating the Thomson Reuters’ 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 net margin of 7.57% and a return on equity of 31.26%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.79 earnings per share. As a group, equities analysts forecast that Expeditors International of Washington will post 3.51 earnings per share for the current year.

A number of research analysts have weighed in on the stock. Seaport Global Securities reaffirmed a “neutral” rating on shares of Expeditors International of Washington in a research note on Friday, May 17th. Goldman Sachs Group assumed coverage on shares of Expeditors International of Washington in a research note on Wednesday, July 10th. They issued a “sell” rating and a $70.00 price objective on the stock. ValuEngine lowered shares of Expeditors International of Washington from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Loop Capital assumed coverage on shares of Expeditors International of Washington in a research note on Thursday, May 30th. They issued a “hold” rating and a $78.00 price objective on the stock. Finally, BidaskClub raised shares of Expeditors International of Washington from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Expeditors International of Washington presently has an average rating of “Hold” and an average price target of $73.00.

About Expeditors International of Washington

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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