CCM Investment Group LLC Purchases New Holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Key Points

• CCM Investment Group LLC acquired a $1.82 million stake in Expeditors International of Washington, buying 15,157 shares of the company in the first quarter.
• A majority of the company's stock, 94.02%, is owned by institutional investors, reflecting significant interest from major financial players.
• Equities analysts have mixed opinions on the stock, with an average rating of "Hold" and a consensus target price of $114.22.

CCM Investment Group LLC purchased a new stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,157 shares of the transportation company's stock, valued at approximately $1,815,000.

Other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Expeditors International of Washington by 53.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 160,855 shares of the transportation company's stock valued at $19,343,000 after purchasing an additional 56,008 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Expeditors International of Washington by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 16,392 shares of the transportation company's stock valued at $1,971,000 after purchasing an additional 430 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Expeditors International of Washington by 17.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,546 shares of the transportation company's stock valued at $667,000 after purchasing an additional 834 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Expeditors International of Washington by 2.4% in the first quarter. Brown Advisory Inc. now owns 10,390 shares of the transportation company's stock valued at $1,249,000 after acquiring an additional 246 shares during the last quarter. Finally, DAVENPORT & Co LLC acquired a new stake in shares of Expeditors International of Washington in the first quarter valued at about $203,000. 94.02% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Jeffrey F. Dickerman sold 1,470 shares of the business's stock in a transaction that occurred 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 owned 7,651 shares in the company, valued at $903,200.55. The trade was a 16.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.69% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on EXPD shares. Truist Financial lifted their target price on Expeditors International of Washington from $105.00 to $110.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Barclays lowered their target price on 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. Robert W. Baird started coverage on Expeditors International of Washington in a research report on Tuesday, July 1st. They issued a "neutral" rating and a $124.00 target price on the stock. TD Cowen lowered their target price on Expeditors International of Washington from $112.00 to $107.00 and set a "sell" rating on the stock in a research report on Wednesday, May 7th. Finally, UBS Group lifted their target price on 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. Five equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, Expeditors International of Washington presently has an average rating of "Hold" and an average price target of $114.22.

Expeditors International of Washington Trading Up 1.3%

Shares of NASDAQ:EXPD traded up $1.60 during trading on Wednesday, reaching $122.32. 1,103,766 shares of the stock were exchanged, compared to its average volume of 1,377,538. Expeditors International of Washington, Inc. has a 12 month low of $100.47 and a 12 month high of $131.59. The firm has a market cap of $16.75 billion, a PE ratio of 21.38, a PEG ratio of 5.00 and a beta of 1.05. The stock has a 50-day moving average price of $115.17 and a 200-day moving average price of $114.12.

About Expeditors International of Washington

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.