Ethic Inc. Sells 2,559 Shares of Expeditors International of Washington, Inc. $EXPD

Key Points

• Ethic Inc. has reduced its holdings in Expeditors International of Washington by 6.9%, selling 2,559 shares to end up with 34,331 shares valued at approximately $4.2 million.
• Several large investors, including Boston Partners and Invesco Ltd., have increased their positions in Expeditors, indicating strong institutional interest with over 94% of the company's stock owned by institutional investors.
• Analyst ratings on Expeditors vary, with five firms rating the stock as a sell, while others suggest a hold or underweight, with an average target price of $114.22.

Ethic Inc. reduced its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 6.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,331 shares of the transportation company's stock after selling 2,559 shares during the quarter. Ethic Inc.'s holdings in Expeditors International of Washington were worth $4,197,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of EXPD. Mariner LLC grew its holdings in Expeditors International of Washington by 4.4% during the fourth quarter. Mariner LLC now owns 26,738 shares of the transportation company's stock worth $2,962,000 after acquiring an additional 1,121 shares during the period. NewEdge Advisors LLC increased its stake in Expeditors International of Washington by 2.7% in the 4th quarter. NewEdge Advisors LLC now owns 8,236 shares of the transportation company's stock worth $912,000 after purchasing an additional 214 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Expeditors International of Washington by 4.4% in the 4th quarter. Canada Pension Plan Investment Board now owns 47,718 shares of the transportation company's stock worth $5,286,000 after purchasing an additional 2,002 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Expeditors International of Washington by 36.3% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 373,726 shares of the transportation company's stock valued at $41,361,000 after acquiring an additional 99,608 shares in the last quarter. Finally, Forum Financial Management LP grew its stake in Expeditors International of Washington by 48.3% during the 4th quarter. Forum Financial Management LP now owns 2,419 shares of the transportation company's stock valued at $268,000 after acquiring an additional 788 shares in the last quarter. 94.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EXPD has been the topic of several research analyst reports. TD Cowen lowered their target price on Expeditors International of Washington from $112.00 to $107.00 and set a "sell" rating on the stock in a research note on Wednesday, May 7th. Barclays lowered their target price on Expeditors International of Washington from $110.00 to $105.00 and set an "underweight" rating on the stock in a research note on Wednesday, May 7th. Truist Financial lifted their target price on Expeditors International of Washington from $105.00 to $110.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Bank of America cut Expeditors International of Washington from a "neutral" rating to an "underperform" rating and lifted their target price for the company from $117.00 to $118.00 in a research note on Friday, July 11th. Finally, Robert W. Baird began coverage on Expeditors International of Washington in a research note on Tuesday, July 1st. They set a "neutral" rating and a $124.00 target price on the stock. Seven equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $114.22.

Expeditors International of Washington Stock Performance

Shares of NASDAQ EXPD traded down $2.0360 during trading hours on Wednesday, hitting $119.3640. The stock had a trading volume of 1,375,615 shares, compared to its average volume of 1,370,531. The company has a market capitalization of $16.20 billion, a P/E ratio of 20.87, a P/E/G ratio of 5.00 and a beta of 1.05. The firm's 50-day moving average price is $115.98 and its two-hundred day moving average price is $114.34. Expeditors International of Washington, Inc. has a 52 week low of $100.47 and a 52 week high of $131.59.

Insider Transactions at Expeditors International of Washington

In other Expeditors International of Washington news, VP Jeffrey F. Dickerman sold 1,470 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $118.05, for a total transaction of $173,533.50. Following the completion of the sale, the vice president owned 7,651 shares of the company's stock, 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 through the SEC website. 0.69% of the stock is owned by insiders.

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.