Confluence Investment Management LLC Cuts Stock Position in Expeditors International of Washington, Inc. $EXPD

Key Points

• Confluence Investment Management LLC has decreased its stake in Expeditors International of Washington by 1.7%, selling 3,216 shares, leaving it with approximately 181,391 shares valued at $20.7 million.
• UBS Group raised its target price on the stock from $117 to $120 while Bank of America downgraded its rating from "neutral" to "underperform" with a target price of $118.
• Currently, institutional investors own 94.02% of Expeditors International's stock, highlighting significant institutional interest in the company.

Confluence Investment Management LLC reduced its position in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 181,391 shares of the transportation company's stock after selling 3,216 shares during the quarter. Confluence Investment Management LLC owned about 0.13% of Expeditors International of Washington worth $20,724,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Boston Partners raised its stake in Expeditors International of Washington by 13.1% in the 1st quarter. Boston Partners now owns 4,295,924 shares of the transportation company's stock valued at $516,385,000 after purchasing an additional 498,212 shares during the last quarter. Invesco Ltd. raised its stake in Expeditors International of Washington by 23.4% in the 1st quarter. Invesco Ltd. now owns 3,039,899 shares of the transportation company's stock valued at $365,548,000 after purchasing an additional 576,468 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Expeditors International of Washington by 1.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,428,914 shares of the transportation company's stock valued at $269,051,000 after purchasing an additional 27,965 shares during the last quarter. Baird Financial Group Inc. raised its stake in Expeditors International of Washington by 4.8% in the 1st quarter. Baird Financial Group Inc. now owns 1,845,102 shares of the transportation company's stock valued at $221,874,000 after purchasing an additional 84,556 shares during the last quarter. Finally, Marshfield Associates raised its holdings in shares of Expeditors International of Washington by 0.8% during the 1st quarter. Marshfield Associates now owns 1,841,746 shares of the transportation company's stock worth $221,470,000 after acquiring an additional 14,127 shares during the period. 94.02% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Expeditors International of Washington

In other Expeditors International of Washington news, VP Jeffrey F. Dickerman sold 1,470 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $118.05, for a total transaction of $173,533.50. Following the sale, the vice president directly owned 7,651 shares in the company, valued at $903,200.55. This represents 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 the SEC website. 0.69% of the stock is owned by company insiders.

Expeditors International of Washington Stock Down 1.4%

NASDAQ:EXPD traded down $1.74 on Thursday, reaching $123.21. 489,841 shares of the company's stock were exchanged, compared to its average volume of 1,340,373. The firm has a market capitalization of $16.72 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 5.00 and a beta of 1.06. The business has a fifty day moving average of $118.62 and a 200-day moving average of $115.39. Expeditors International of Washington, Inc. has a 52-week low of $100.47 and a 52-week high of $131.59.

Analysts Set New Price Targets

Several research analysts have recently weighed in on EXPD shares. Baird R W raised shares of Expeditors International of Washington to a "hold" rating in a research report on Tuesday, July 1st. Barclays boosted their price target on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the company an "underweight" rating in a research report on Thursday, September 11th. UBS Group boosted their price target on shares of 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. 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 research report on Tuesday, July 8th. Finally, Bank of America cut shares of Expeditors International of Washington from a "neutral" rating to an "underperform" rating and boosted their price target for the company from $117.00 to $118.00 in a research report on Friday, July 11th. Seven investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat, Expeditors International of Washington currently has a consensus rating of "Reduce" and an average price target of $114.78.

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.