Expeditors International of Washington, Inc. $EXPD Stake Cut by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its stake in Expeditors International of Washington by 16.0%, selling 6,154 shares, and now holds a total of 32,407 shares valued at approximately $3.9 million.
• Other institutional investors also made significant adjustments to their holdings, with Boston Partners increasing their position by 13.1% and Invesco Ltd. raising theirs by 23.4% during the same quarter.
• Expeditors International's stock is currently rated as "Reduce" by analysts, with a consensus price target of $114.22.

Corebridge Financial Inc. lowered its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 16.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 32,407 shares of the transportation company's stock after selling 6,154 shares during the quarter. Corebridge Financial Inc.'s holdings in Expeditors International of Washington were worth $3,897,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. NDVR Inc. boosted its holdings in Expeditors International of Washington by 5.8% in the 4th quarter. NDVR Inc. now owns 1,812 shares of the transportation company's stock worth $201,000 after acquiring an additional 99 shares during the period. Deseret Mutual Benefit Administrators boosted its holdings in Expeditors International of Washington by 6.6% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 1,658 shares of the transportation company's stock worth $199,000 after acquiring an additional 103 shares during the period. Farther Finance Advisors LLC boosted its holdings in Expeditors International of Washington by 11.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,083 shares of the transportation company's stock worth $132,000 after acquiring an additional 109 shares during the period. Greenleaf Trust boosted its stake in shares of Expeditors International of Washington by 2.5% during the 1st quarter. Greenleaf Trust now owns 4,540 shares of the transportation company's stock valued at $546,000 after buying an additional 112 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of Expeditors International of Washington by 3.1% during the 4th quarter. Captrust Financial Advisors now owns 3,848 shares of the transportation company's stock valued at $426,000 after buying an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 94.02% of the company's stock.

Expeditors International of Washington Stock Performance

Shares of NASDAQ:EXPD traded up $0.71 during midday trading on Thursday, reaching $121.11. The company had a trading volume of 280,315 shares, compared to its average volume of 1,354,433. Expeditors International of Washington, Inc. has a 1-year low of $100.47 and a 1-year high of $131.59. The firm has a market cap of $16.44 billion, a price-to-earnings ratio of 21.17, a price-to-earnings-growth ratio of 5.00 and a beta of 1.06. The company has a fifty day simple moving average of $117.43 and a two-hundred day simple moving average of $114.98.

Insider Buying and Selling at Expeditors International of Washington

In related news, VP Jeffrey F. Dickerman sold 1,470 shares of the stock in a transaction on Thursday, August 7th. The stock was 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 owned 7,651 shares in the company, valued at $903,200.55. This trade represents a 16.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.69% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on Expeditors International of Washington from $105.00 to $107.00 and gave the company an "underweight" rating in a research note on Tuesday, July 8th. TD Cowen dropped their price target 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. Truist Financial upped their price target 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. Robert W. Baird began 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. Finally, UBS Group increased their price target on Expeditors International of Washington from $117.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, Expeditors International of Washington presently has a consensus rating of "Reduce" and an average 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.