Cetera Investment Advisers Raises Stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Key Points

• Cetera Investment Advisers increased its position in Expeditors International of Washington by 19.9%, now totaling 13,540 shares valued at approximately $1.63 million.
• Institutional investors now hold 94.02% of Expeditors' stock, with several recent acquisitions by various hedge funds.
• Current analyst ratings reveal a consensus of "Hold" with a target price of $114.22, although ratings vary with some recommending "sell".

Cetera Investment Advisers raised its position in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 19.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,540 shares of the transportation company's stock after buying an additional 2,246 shares during the quarter. Cetera Investment Advisers' holdings in Expeditors International of Washington were worth $1,628,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of EXPD. Wealth Enhancement Advisory Services LLC lifted its position in shares of Expeditors International of Washington by 53.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 160,855 shares of the transportation company's stock worth $19,343,000 after purchasing an additional 56,008 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Expeditors International of Washington by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 16,392 shares of the transportation company's stock valued at $1,971,000 after acquiring an additional 430 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Expeditors International of Washington by 17.7% during the 1st 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 stake in Expeditors International of Washington by 2.4% during the 1st quarter. Brown Advisory Inc. now owns 10,390 shares of the transportation company's stock valued at $1,249,000 after purchasing an additional 246 shares in the last quarter. Finally, DAVENPORT & Co LLC bought a new stake in Expeditors International of Washington during the 1st quarter valued at $203,000. 94.02% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Jeffrey F. Dickerman sold 1,470 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $118.05, for a total value of $173,533.50. Following the completion of the transaction, the vice president directly owned 7,651 shares in the company, valued at $903,200.55. This trade represents a 16.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.69% of the company's stock.

Expeditors International of Washington Trading Down 1.6%

Shares of Expeditors International of Washington stock traded down $1.90 on Thursday, reaching $120.35. The stock had a trading volume of 276,487 shares, compared to its average volume of 1,374,049. Expeditors International of Washington, Inc. has a 1 year low of $100.47 and a 1 year high of $131.59. The business's 50 day moving average is $115.38 and its two-hundred day moving average is $114.18. The company has a market cap of $16.33 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 5.00 and a beta of 1.05.

Analyst Ratings Changes

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