Redwood Investment Management LLC Increases Stock Holdings in Expeditors International of Washington, Inc. $EXPD

Key Points

• Redwood Investment Management LLC significantly increased its holdings in Expeditors International of Washington by 347% in the first quarter, acquiring a total of 10,849 shares valued at approximately $1.3 million.
• A majority of Expeditors International's shares, approximately 94.02%, are owned by institutional investors and hedge funds, with multiple firms acquiring new stakes recently.
• Analysts have varied opinions on Expeditors International, with recent ratings reflecting a consensus of "Reduce" and price targets ranging from $107 to $120.

Redwood Investment Management LLC boosted its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 347.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,849 shares of the transportation company's stock after acquiring an additional 8,422 shares during the quarter. Redwood Investment Management LLC's holdings in Expeditors International of Washington were worth $1,305,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its position in Expeditors International of Washington by 53.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 160,855 shares of the transportation company's stock worth $19,343,000 after acquiring an additional 56,008 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Expeditors International of Washington by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 16,392 shares of the transportation company's stock worth $1,971,000 after buying an additional 430 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Expeditors International of Washington by 17.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,546 shares of the transportation company's stock worth $667,000 after buying an additional 834 shares in the last quarter. Brown Advisory Inc. raised its stake in shares of Expeditors International of Washington by 2.4% during the 1st quarter. Brown Advisory Inc. now owns 10,390 shares of the transportation company's stock worth $1,249,000 after buying an additional 246 shares in the last quarter. Finally, DAVENPORT & Co LLC purchased a new position in shares of Expeditors International of Washington during the 1st quarter worth approximately $203,000. 94.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on EXPD shares. TD Cowen cut their target price on Expeditors International of Washington from $112.00 to $107.00 and set a "sell" rating for the company in a research note on Wednesday, May 7th. Barclays dropped their price objective on Expeditors International of Washington from $110.00 to $105.00 and set an "underweight" rating for the company in a research note on Wednesday, May 7th. Robert W. Baird initiated coverage on Expeditors International of Washington in a research note on Tuesday, July 1st. They issued a "neutral" rating and a $124.00 price objective for the company. JPMorgan Chase & Co. raised their price objective 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. Finally, UBS Group raised their price objective on 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 issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $114.22.

Expeditors International of Washington Price Performance

NASDAQ:EXPD traded down $0.80 during trading hours on Friday, reaching $120.48. 895,899 shares of the company traded hands, compared to its average volume of 1,362,361. The firm's 50-day moving average is $117.02 and its 200-day moving average is $114.84. The stock has a market cap of $16.35 billion, a P/E ratio of 21.06, a P/E/G ratio of 5.00 and a beta of 1.05. Expeditors International of Washington, Inc. has a 1-year low of $100.47 and a 1-year high of $131.59.

Insider Buying and Selling

In other news, VP Jeffrey F. Dickerman sold 1,470 shares of Expeditors International of Washington 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 sale, the vice president 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.69% of the company's stock.

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.