Confluence Investment Management LLC Sells 3,216 Shares of 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 lowered its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,391 shares of the transportation company's stock after selling 3,216 shares during the period. Confluence Investment Management LLC owned approximately 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 bought and sold shares of EXPD. Captrust Financial Advisors boosted its stake in Expeditors International of Washington by 3.1% during the fourth quarter. Captrust Financial Advisors now owns 3,848 shares of the transportation company's stock worth $426,000 after acquiring an additional 115 shares in the last quarter. Focus Partners Wealth purchased a new position in Expeditors International of Washington in the fourth quarter worth about $432,000. Numerai GP LLC purchased a new position in Expeditors International of Washington in the fourth quarter worth about $275,000. NorthRock Partners LLC purchased a new position in Expeditors International of Washington in the fourth quarter worth about $226,000. Finally, Nomura Holdings Inc. raised its holdings in Expeditors International of Washington by 33.8% in the fourth quarter. Nomura Holdings Inc. now owns 13,824 shares of the transportation company's stock worth $1,531,000 after buying an additional 3,493 shares during the last quarter. Institutional investors own 94.02% of the company's stock.

Insider Buying and Selling at Expeditors International of Washington

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 shares were sold at an average price of $118.05, for a total transaction of $173,533.50. Following the completion of the transaction, 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 transaction 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 insiders.

Analysts Set New Price Targets

EXPD has been the subject of several recent analyst reports. UBS Group lifted 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. Bank of America cut shares of Expeditors International of Washington from a "neutral" rating to an "underperform" rating and lifted their target price for the stock from $117.00 to $118.00 in a report on Friday, July 11th. Robert W. Baird initiated coverage on shares of Expeditors International of Washington in a report on Tuesday, July 1st. They issued a "neutral" rating and a $124.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of Expeditors International of Washington from $105.00 to $107.00 and gave the stock an "underweight" rating in a report on Tuesday, July 8th. Finally, Barclays lifted their target price on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the stock an "underweight" rating in a report on Thursday. Seven research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, Expeditors International of Washington currently has a consensus rating of "Reduce" and a consensus target price of $114.78.

Expeditors International of Washington Stock Up 0.2%

EXPD opened at $123.61 on Friday. The firm has a 50 day moving average price of $118.17 and a 200-day moving average price of $115.24. 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 capitalization of $16.78 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 5.00 and a beta of 1.06.

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.

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