Canada Pension Plan Investment Board Purchases 20,122 Shares of Expeditors International of Washington, Inc. $EXPD

Key Points

• The Canada Pension Plan Investment Board increased its stake in Expeditors International of Washington to $8.16 million by acquiring an additional 20,122 shares, marking a 42.2% increase in the first quarter.
• Other institutional investors, including OMERS ADMINISTRATION Corp and BNP Paribas Financial Markets, have also raised their positions, contributing to a total of 94.02% institutional ownership of the company's stock.
• Analyst ratings for Expeditors vary, with UBS Group raising the target price to $120 while Bank of America downgraded it to "underperform," highlighting a mixed investor outlook.

Canada Pension Plan Investment Board boosted its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 42.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,840 shares of the transportation company's stock after acquiring an additional 20,122 shares during the period. Canada Pension Plan Investment Board's holdings in Expeditors International of Washington were worth $8,158,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in EXPD. Alpine Bank Wealth Management bought a new stake in shares of Expeditors International of Washington during the first quarter worth $26,000. Zions Bancorporation National Association UT bought a new stake in Expeditors International of Washington in the first quarter valued at $30,000. Garde Capital Inc. bought a new stake in Expeditors International of Washington in the first quarter valued at $37,000. Colonial Trust Co SC increased its stake in Expeditors International of Washington by 58.6% in the fourth 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 bought a new stake in shares of Expeditors International of Washington during the fourth quarter worth about $42,000. Institutional investors own 94.02% of the company's stock.

Expeditors International of Washington Stock Up 0.1%

EXPD traded up $0.08 during trading on Monday, hitting $120.99. The company's stock had a trading volume of 101,923 shares, compared to its average volume of 1,348,145. The firm's 50 day moving average price is $117.70 and its two-hundred day moving average price is $115.03. Expeditors International of Washington, Inc. has a 12 month low of $100.47 and a 12 month high of $131.59. The stock has a market capitalization of $16.42 billion, a price-to-earnings ratio of 21.17, a price-to-earnings-growth ratio of 5.00 and a beta of 1.06.

Insider Activity at Expeditors International of Washington

In related news, VP Jeffrey F. Dickerman sold 1,470 shares of Expeditors International of Washington 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 completion of the sale, the vice president directly owned 7,651 shares of the company's stock, valued at $903,200.55. The trade was 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 available at this link. Company insiders own 0.69% of the company's stock.

Analyst Ratings Changes

EXPD has been the subject of a number of recent analyst reports. Bank of America downgraded 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 report on Friday, July 11th. Baird R W upgraded shares of Expeditors International of Washington to a "hold" rating in a research note on Tuesday, July 1st. Robert W. Baird started 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 target on the stock. JPMorgan Chase & Co. upped their price target on shares of Expeditors International of Washington from $105.00 to $107.00 and gave the company an "underweight" rating in a research note on Tuesday, July 8th. Finally, UBS Group upped their target price on shares of Expeditors International of Washington from $117.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target 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.