Adage Capital Partners GP L.L.C. Acquires 56,900 Shares of Expeditors International of Washington, Inc. $EXPD

Key Points

• Adage Capital Partners GP L.L.C. significantly increased its stake in Expeditors International by acquiring an additional 56,900 shares, raising its total ownership to approximately 127,700 shares, valued at $15.36 million.
• Several hedge funds have recently bought shares of Expeditors, demonstrating increased institutional interest, with hedge funds collectively owning 94.02% of the company’s stock.
• Wall Street analysts have mixed opinions on Expeditors International, with seven analysts rating it as "Hold" and five as "Sell," and the average price target set at $114.22.

Adage Capital Partners GP L.L.C. lifted its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 80.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 127,700 shares of the transportation company's stock after buying an additional 56,900 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.09% of Expeditors International of Washington worth $15,356,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Alpine Bank Wealth Management acquired a new position in shares of Expeditors International of Washington in the 1st quarter valued at approximately $26,000. Zions Bancorporation National Association UT acquired a new position in Expeditors International of Washington during the first quarter valued at approximately $30,000. Garde Capital Inc. bought a new stake in Expeditors International of Washington during the first quarter worth $37,000. Colonial Trust Co SC boosted its holdings in shares of Expeditors International of Washington by 58.6% in the 4th quarter. Colonial Trust Co SC now owns 352 shares of the transportation company's stock valued at $39,000 after purchasing an additional 130 shares in the last quarter. Finally, Park Square Financial Group LLC acquired a new stake in shares of Expeditors International of Washington in the 4th quarter valued at $42,000. Institutional investors own 94.02% of the company's stock.

Insider Activity at Expeditors International of Washington

In other Expeditors International of Washington news, VP Jeffrey F. Dickerman sold 1,470 shares of Expeditors International of Washington 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 transaction, the vice president directly owned 7,651 shares of the company's stock, valued at approximately $903,200.55. The trade was a 16.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.69% of the company's stock.

Expeditors International of Washington Trading Up 1.7%

NASDAQ:EXPD traded up $2.07 during mid-day trading on Thursday, hitting $123.41. 1,056,579 shares of the company's stock were exchanged, compared to its average volume of 1,354,480. Expeditors International of Washington, Inc. has a fifty-two week low of $100.47 and a fifty-two week high of $131.59. The firm has a market capitalization of $16.75 billion, a P/E ratio of 21.57, a PEG ratio of 5.00 and a beta of 1.06. The company has a 50 day simple moving average of $118.06 and a 200-day simple moving average of $115.20.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on EXPD shares. JPMorgan Chase & Co. upped their price objective on 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. Truist Financial increased their target price on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Baird R W upgraded shares of Expeditors International of Washington to a "hold" rating in a research note on Tuesday, July 1st. Barclays upped their price objective on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the stock an "underweight" rating in a research report on Thursday. Finally, UBS Group raised their target price on shares of Expeditors International of Washington from $117.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $114.78.

Expeditors International of Washington Company Profile

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.