Comerica Bank Has $4.82 Million Holdings in Expeditors International of Washington, Inc. $EXPD

Key Points

• Comerica Bank increased its stake in Expeditors International of Washington by 17.6% in Q1, holding a total of 40,081 shares valued at $4.82 million.
• Multiple analysts have lowered their price targets for Expeditors, with Barclays reducing it from $110 to $105 and Chase increasing it to $107, while the company holds a consensus "Reduce" rating.
• Insider trading was noted as VP Jeffrey F. Dickerman sold 1,470 shares for approximately $173,533, reflecting a significant decrease in their ownership of the stock.

Comerica Bank grew its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 17.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,081 shares of the transportation company's stock after acquiring an additional 5,992 shares during the quarter. Comerica Bank's holdings in Expeditors International of Washington were worth $4,820,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new position in shares of Expeditors International of Washington during the first quarter valued at $26,000. Zions Bancorporation National Association UT acquired a new position in shares of Expeditors International of Washington during the first quarter valued at $30,000. Garde Capital Inc. acquired a new position in shares of Expeditors International of Washington during the first quarter valued at $37,000. Colonial Trust Co SC boosted its holdings in shares of Expeditors International of Washington by 58.6% during the fourth quarter. Colonial Trust Co SC now owns 352 shares of the transportation company's stock valued at $39,000 after acquiring an additional 130 shares during the period. Finally, Park Square Financial Group LLC acquired a new position in shares of Expeditors International of Washington during the fourth quarter valued at $42,000. Institutional investors and hedge funds own 94.02% of the company's stock.

Insiders Place Their Bets

In other Expeditors International of Washington news, VP Jeffrey F. Dickerman sold 1,470 shares of the company's 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 sale, the vice president directly owned 7,651 shares of the company's stock, valued at approximately $903,200.55. This represents a 16.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.69% of the company's stock.

Expeditors International of Washington Stock Performance

NASDAQ EXPD traded up $1.18 on Thursday, reaching $121.58. The company's stock had a trading volume of 755,567 shares, compared to its average volume of 1,357,434. Expeditors International of Washington, Inc. has a twelve month low of $100.47 and a twelve month high of $131.59. The stock has a market cap of $16.50 billion, a PE ratio of 21.25, a PEG ratio of 5.00 and a beta of 1.06. The firm's 50 day moving average is $117.59 and its two-hundred day moving average is $115.03.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted 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 report on Tuesday, July 8th. Baird R W raised shares of Expeditors International of Washington to a "hold" rating in a research note on Tuesday, July 1st. Robert W. Baird assumed coverage on shares of Expeditors International of Washington in a research report on Tuesday, July 1st. They set a "neutral" rating and a $124.00 price target on the stock. Barclays dropped their price target 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. Finally, UBS Group raised their price objective on shares of Expeditors International of Washington from $117.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Seven research analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $114.22.

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.