1832 Asset Management L.P. Has $100.50 Million Stake in Expeditors International of Washington, Inc. $EXPD

Key Points

• 1832 Asset Management L.P. reduced its stake in Expeditors International by 1.9% during Q1, owning approximately 835,730 shares valued at $100.5 million after selling 16,371 shares.
• Several institutional investors, including Ameriprise Financial and Norinchukin Bank, increased their holdings in Expeditors International during the same period, highlighting ongoing interest from major financial entities.
• Expeditors International's stock recently opened at $119.91 and has experienced fluctuations with a twelve-month low of $100.47 and a high of $131.59.

1832 Asset Management L.P. trimmed its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 835,730 shares of the transportation company's stock after selling 16,371 shares during the period. 1832 Asset Management L.P. owned 0.61% of Expeditors International of Washington worth $100,497,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in EXPD. Coppell Advisory Solutions LLC acquired a new position in Expeditors International of Washington during the fourth quarter worth $25,000. Alpine Bank Wealth Management bought a new position in Expeditors International of Washington during the first quarter worth $26,000. Zions Bancorporation National Association UT bought a new position in Expeditors International of Washington during the first quarter worth $30,000. Garde Capital Inc. bought a new position in Expeditors International of Washington during the first quarter worth $37,000. Finally, Colonial Trust Co SC boosted its position in Expeditors International of Washington by 58.6% during the fourth quarter. Colonial Trust Co SC now owns 352 shares of the transportation company's stock worth $39,000 after purchasing an additional 130 shares during the period. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Expeditors International of Washington Price Performance

EXPD traded up $0.70 on Wednesday, hitting $122.30. 1,231,387 shares of the stock were exchanged, compared to its average volume of 1,368,602. Expeditors International of Washington, Inc. has a 12 month low of $100.47 and a 12 month high of $131.59. The business has a 50-day moving average of $116.53 and a two-hundred day moving average of $114.65. The firm has a market capitalization of $16.60 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 5.00 and a beta of 1.05.

Analyst Upgrades and Downgrades

A number of research firms have commented on EXPD. Baird R W raised shares of Expeditors International of Washington to a "hold" rating in a research report on Tuesday, July 1st. Truist Financial lifted their price objective on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Bank of America cut shares of Expeditors International of Washington from a "neutral" rating to an "underperform" rating and lifted their price objective for the stock from $117.00 to $118.00 in a research report on Friday, July 11th. TD Cowen reduced their price objective on shares of Expeditors International of Washington from $112.00 to $107.00 and set a "sell" rating for the company in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Expeditors International of Washington from $105.00 to $107.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 8th. Seven investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $114.22.

Insiders Place Their Bets

In other Expeditors International of Washington news, VP Jeffrey F. Dickerman sold 1,470 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $118.05, for a total transaction of $173,533.50. Following the completion of the transaction, the vice president owned 7,651 shares of the company's stock, valued at approximately $903,200.55. The trade was a 16.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.69% of the stock is owned by corporate insiders.

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.