Expeditors International of Washington, Inc. (NASDAQ:EXPD) Declares Dividend Increase – $0.77 Per Share

Expeditors International of Washington, Inc. (NASDAQ:EXPD) declared a semi-annual dividend on Wednesday, May 7th, Wall Street Journal reports. Stockholders of record on Monday, June 2nd will be given a dividend of 0.77 per share by the transportation company on Monday, June 16th. This represents a dividend yield of 1.4%. The ex-dividend date is Monday, June 2nd. This is a 5.5% increase from Expeditors International of Washington’s previous semi-annual dividend of $0.73.

Expeditors International of Washington has raised its dividend by an average of 10.3% annually over the last three years and has raised its dividend annually for the last 30 consecutive years.

Expeditors International of Washington Stock Up 1.7 %

Shares of NASDAQ:EXPD opened at $107.95 on Thursday. The stock has a market capitalization of $14.87 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 5.00 and a beta of 1.09. The firm’s 50 day moving average price is $113.13 and its 200-day moving average price is $115.02. Expeditors International of Washington has a twelve month low of $100.47 and a twelve month high of $131.59.

Analysts Set New Price Targets

EXPD has been the topic of several analyst reports. Bank of America dropped their price target on shares of Expeditors International of Washington from $129.00 to $120.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Benchmark reiterated a “hold” rating on shares of Expeditors International of Washington in a research note on Wednesday, February 19th. Truist Financial lowered their price target on shares of Expeditors International of Washington from $110.00 to $105.00 and set a “hold” rating on the stock in a report on Thursday, April 24th. StockNews.com cut shares of Expeditors International of Washington from a “buy” rating to a “hold” rating in a research note on Sunday, February 16th. Finally, Barclays dropped their price objective on Expeditors International of Washington from $110.00 to $105.00 and set an “underweight” rating for the company in a research note on Wednesday. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. Based on data from MarketBeat, Expeditors International of Washington presently has a consensus rating of “Hold” and a consensus price target of $113.70.

Insider Activity

In other news, VP Jeffrey F. Dickerman sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $117.54, for a total transaction of $146,925.00. Following the transaction, the vice president now directly owns 7,296 shares of the company’s stock, valued at approximately $857,571.84. This trade represents a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.69% of the company’s stock.

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.