Ashmore Wealth Management Lowers stake in Expeditors International of Washington (EXPD)

Expeditors International of Washington (EXPD) : Ashmore Wealth Management reduced its stake in Expeditors International of Washington by 27.62% during the most recent quarter end. The investment management company now holds a total of 1,611,076 shares of Expeditors International of Washington which is valued at $82,615,977 after selling 614,753 shares in Expeditors International of Washington , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Expeditors International of Washington makes up approximately 2.94% of Ashmore Wealth Management’s portfolio.

Other Hedge Funds, Including , Lord Abbett sold out all of its stake in EXPD during the most recent quarter. The investment firm sold 168,200 shares of EXPD which is valued $8,625,296.Blackrock Group Ltd boosted its stake in EXPD in the latest quarter, The investment management firm added 91,280 additional shares and now holds a total of 1,571,452 shares of Expeditors International of Washington which is valued at $80,584,059. Expeditors International of Washington makes up approx 0.04% of Blackrock Group Ltd’s portfolio.Norinchukin Bank The boosted its stake in EXPD in the latest quarter, The investment management firm added 51 additional shares and now holds a total of 40,246 shares of Expeditors International of Washington which is valued at $2,064,620. Expeditors International of Washington makes up approx 0.05% of Norinchukin Bank The’s portfolio.

Expeditors International of Washington (EXPD) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $51.17 and reached the intraday high at $51.17. The bulls started the profit booking and pushed the shares to intraday low of $50.5001. The trading session was marked by a volume range of 5,71,827 shares exchanging hands. The 52-week high of the shares is $52.58 and the 52-week low is $40.41. The market cap of the company stands at $9,246 M and there are 18,10,52,060 shares in public circulation.

On the company’s financial health, Expeditors International of Washington reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.58. The company had revenue of $1475.20 million for the quarter, compared to analysts expectations of $1531.36 million. The company’s revenue was down -12.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.62 EPS.

Many Wall Street Analysts have commented on Expeditors International of Washington. Expeditors International of Washington was Downgraded by Stifel to ” Hold” on Aug 4, 2016.

Expeditors International of Washington Inc. is engaged in the business of providing global logistics services. The Company’s services include air and ocean freight transportation and customs brokerage. The Company also provides additional services including order management time-definite transportation warehousing and distribution cargo insurance and logistics solutions. The Company operates in Americas including the United States Other North America and Latin America; Asia Pacific; Europe and Middle East Africa and India. The Company provides airfreight services and acts either as a freight consolidator or as an agent for the airline which carries the shipment. The Company operates Expeditors International Ocean Inc. (EIO) an Ocean Transportation Intermediary also known as Non-Vessel Operating Common Carrier (NVOCC) which specializes in ocean freight services in trade lanes across the world.

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