Allianz Asset Management GmbH Has $56.68 Million Position in Expeditors International of Washington, Inc. $EXPD

Key Points

• Allianz Asset Management GmbH increased its stake in Expeditors International of Washington by 26.1%, owning 496,140 shares worth approximately $56.68 million at the end of the second quarter.
• Insider VP Jeffrey F. Dickerman sold 1,470 shares at an average price of $118.05, reducing his ownership by 16.12% to approximately $903,200.
• Analysts have mixed views on Expeditors International, with a consensus rating of "Reduce" and an average target price of $114.44, reflecting increased scrutiny from several investment firms.

Allianz Asset Management GmbH boosted its holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 26.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 496,140 shares of the transportation company's stock after acquiring an additional 102,575 shares during the quarter. Allianz Asset Management GmbH owned 0.36% of Expeditors International of Washington worth $56,684,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Deseret Mutual Benefit Administrators increased its stake in Expeditors International of Washington by 6.6% in the first quarter. Deseret Mutual Benefit Administrators now owns 1,658 shares of the transportation company's stock valued at $199,000 after acquiring an additional 103 shares during the period. Farther Finance Advisors LLC increased its stake in Expeditors International of Washington by 11.2% in the first quarter. Farther Finance Advisors LLC now owns 1,083 shares of the transportation company's stock valued at $132,000 after acquiring an additional 109 shares during the period. Greenleaf Trust increased its stake in Expeditors International of Washington by 2.5% in the first quarter. Greenleaf Trust now owns 4,540 shares of the transportation company's stock valued at $546,000 after acquiring an additional 112 shares during the period. Ancora Advisors LLC increased its stake in Expeditors International of Washington by 0.7% in the first quarter. Ancora Advisors LLC now owns 15,975 shares of the transportation company's stock valued at $1,921,000 after acquiring an additional 118 shares during the period. Finally, Concurrent Investment Advisors LLC increased its stake in Expeditors International of Washington by 4.1% in the first quarter. Concurrent Investment Advisors LLC now owns 3,071 shares of the transportation company's stock valued at $369,000 after acquiring an additional 120 shares during the period. Institutional investors own 94.02% of the company's stock.

Insider Activity

In other news, VP Jeffrey F. Dickerman sold 1,470 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The shares were 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 in the company, valued at approximately $903,200.55. This represents a 16.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.69% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial upped their target price on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the company a "hold" rating in a research note on Monday, June 30th. JPMorgan Chase & Co. upped 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 note on Tuesday, July 8th. UBS Group upped their price objective on shares of Expeditors International of Washington from $117.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Bank of America cut shares of Expeditors International of Washington from a "neutral" rating to an "underperform" rating and upped their price objective for the stock from $117.00 to $118.00 in a research note on Friday, July 11th. Finally, Robert W. Baird initiated coverage on shares of Expeditors International of Washington in a research note on Tuesday, July 1st. They set a "neutral" rating and a $124.00 price objective on the stock. Seven investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $114.44.

Expeditors International of Washington Trading Up 1.5%

Shares of EXPD stock opened at $120.00 on Friday. Expeditors International of Washington, Inc. has a 1 year low of $100.47 and a 1 year high of $129.15. The firm's 50 day moving average is $120.79 and its 200-day moving average is $115.63. The firm has a market capitalization of $16.29 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 5.00 and a beta of 1.09.

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.

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