Bank of Nova Scotia Sells 17,484 Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Bank of Nova Scotia lessened its holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 51.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,540 shares of the transportation company's stock after selling 17,484 shares during the period. Bank of Nova Scotia's holdings in Expeditors International of Washington were worth $1,989,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Alpine Bank Wealth Management purchased a new position in Expeditors International of Washington in the first quarter worth $26,000. Coppell Advisory Solutions LLC bought a new stake in shares of Expeditors International of Washington during the 4th quarter worth $25,000. Garde Capital Inc. purchased a new position in shares of Expeditors International of Washington in the 1st quarter worth about $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 worth $39,000 after buying an additional 130 shares during the last quarter. Finally, Parvin Asset Management LLC bought a new position in Expeditors International of Washington during the fourth quarter valued at about $42,000. 94.02% of the stock is owned by hedge funds and other institutional investors.

Expeditors International of Washington Trading Down 0.7%

Shares of NASDAQ EXPD traded down $0.77 during mid-day trading on Thursday, hitting $117.96. The company had a trading volume of 1,123,776 shares, compared to its average volume of 1,387,708. Expeditors International of Washington, Inc. has a 1 year low of $100.47 and a 1 year high of $131.59. The company has a market capitalization of $16.15 billion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 5.00 and a beta of 1.05. The stock's 50-day moving average price is $114.79 and its 200-day moving average price is $114.01.

Wall Street Analysts Forecast Growth

Several analysts have commented on EXPD shares. Barclays lowered their price objective on shares of Expeditors International of Washington from $110.00 to $105.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 7th. Bank of America downgraded Expeditors International of Washington from a "neutral" rating to an "underperform" rating and upped their price objective for the company from $117.00 to $118.00 in a research note on Friday, July 11th. TD Cowen reduced their price objective on Expeditors International of Washington from $112.00 to $107.00 and set a "sell" rating for the company in a report on Wednesday, May 7th. Robert W. Baird initiated coverage on Expeditors International of Washington in a research note on Tuesday, July 1st. They issued a "neutral" rating and a $124.00 target price on the stock. Finally, Baird R W upgraded Expeditors International of Washington to a "hold" rating in a research note on Tuesday, July 1st. Five research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $114.22.

Expeditors International of Washington 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.