Cambiar Investors LLC Sells 8,540 Shares of Expeditors International of Washington, Inc. $EXPD

Key Points

• Cambiar Investors LLC reduced its stake in Expeditors International by 9.2%, owning 83,851 shares worth approximately $10 million after selling 8,540 shares in the 1st quarter.
• Despite Cambiar's reduction, institutional investors overall hold 94.02% of Expeditors International’s stock, indicating strong institutional interest.
• Several research firms have recently adjusted target prices for Expeditors International, with a consensus target of $114.22 and a majority rating of "Hold."

Cambiar Investors LLC cut its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 9.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,851 shares of the transportation company's stock after selling 8,540 shares during the period. Cambiar Investors LLC owned approximately 0.06% of Expeditors International of Washington worth $10,083,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EXPD. Mariner LLC raised its holdings in Expeditors International of Washington by 4.4% in the 4th quarter. Mariner LLC now owns 26,738 shares of the transportation company's stock valued at $2,962,000 after acquiring an additional 1,121 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Expeditors International of Washington by 2.7% during the 4th quarter. NewEdge Advisors LLC now owns 8,236 shares of the transportation company's stock worth $912,000 after buying an additional 214 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Expeditors International of Washington by 4.4% during the 4th quarter. Canada Pension Plan Investment Board now owns 47,718 shares of the transportation company's stock worth $5,286,000 after buying an additional 2,002 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Expeditors International of Washington by 36.3% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 373,726 shares of the transportation company's stock worth $41,361,000 after buying an additional 99,608 shares in the last quarter. Finally, Forum Financial Management LP raised its holdings in shares of Expeditors International of Washington by 48.3% during the 4th quarter. Forum Financial Management LP now owns 2,419 shares of the transportation company's stock worth $268,000 after buying an additional 788 shares in the last quarter. 94.02% of the stock is owned by institutional investors and hedge funds.

Expeditors International of Washington Price Performance

EXPD stock traded up $2.33 during midday trading on Friday, reaching $120.74. 411,483 shares of the stock were exchanged, compared to its average volume of 1,361,263. The stock has a market capitalization of $16.39 billion, a PE ratio of 21.11, a P/E/G ratio of 5.00 and a beta of 1.05. Expeditors International of Washington, Inc. has a 52 week low of $100.47 and a 52 week high of $131.59. The company has a fifty day moving average price of $116.15 and a 200 day moving average price of $114.43.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on EXPD shares. TD Cowen lowered their price target 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 started coverage on Expeditors International of Washington in a report on Tuesday, July 1st. They set a "neutral" rating and a $124.00 price target for the company. UBS Group boosted their price target on Expeditors International of Washington from $117.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. boosted their price target on Expeditors International of Washington from $105.00 to $107.00 and gave the stock an "underweight" rating in a report on Tuesday, July 8th. Finally, Barclays lowered their price target on Expeditors International of Washington from $110.00 to $105.00 and set an "underweight" rating for the company in a report on Wednesday, May 7th. Seven analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $114.22.

Insiders Place Their Bets

In related news, VP Jeffrey F. Dickerman sold 1,470 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $118.05, for a total transaction of $173,533.50. Following the sale, the vice president owned 7,651 shares in the company, valued at $903,200.55. The trade was a 16.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.69% of the stock is owned by corporate insiders.

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.