Goldman Sachs Group Inc. Acquires 11,404 Shares of Expeditors International of Washington, Inc. $EXPD

Key Points

• Goldman Sachs Group Inc. increased its stake in Expeditors International of Washington by 1.4%, owning approximately 0.60% of the company worth $98.8 million.
• Recent upgrades and price objective increases from brokerages have resulted in a consensus rating of "Reduce" for Expeditors International, with a target price of $114.78.
• Company insider Jeffrey F. Dickerman sold 1,470 shares, marking a 16.12% decrease in his ownership, valued at over $903,000 post-sale.

Goldman Sachs Group Inc. lifted its position in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 821,675 shares of the transportation company's stock after purchasing an additional 11,404 shares during the quarter. Goldman Sachs Group Inc. owned 0.60% of Expeditors International of Washington worth $98,806,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in EXPD. Invesco Ltd. grew its holdings in shares of 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 worth $365,548,000 after purchasing an additional 576,468 shares during the last quarter. GAMMA Investing LLC lifted its position in Expeditors International of Washington by 13,910.4% during the 1st quarter. GAMMA Investing LLC now owns 507,455 shares of the transportation company's stock worth $61,021,000 after buying an additional 503,833 shares in the last quarter. Boston Partners lifted its position in Expeditors International of Washington by 13.1% during the 1st quarter. Boston Partners now owns 4,295,924 shares of the transportation company's stock worth $516,385,000 after buying an additional 498,212 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Expeditors International of Washington by 516.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 576,391 shares of the transportation company's stock worth $69,311,000 after buying an additional 482,814 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Expeditors International of Washington during the 1st quarter worth about $43,816,000. Institutional investors own 94.02% of the company's stock.

Expeditors International of Washington Trading Down 0.7%

Shares of EXPD stock traded down $0.89 on Thursday, reaching $124.06. The company had a trading volume of 1,329,769 shares, compared to its average volume of 1,345,327. The stock has a market cap of $16.84 billion, a PE ratio of 21.69, a PEG ratio of 5.00 and a beta of 1.06. The company has a 50-day moving average of $118.72 and a 200-day moving average of $115.43. Expeditors International of Washington, Inc. has a 12 month low of $100.47 and a 12 month high of $131.59.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Expeditors International of Washington from $105.00 to $107.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 8th. UBS Group upped their price target on shares of Expeditors International of Washington from $117.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Bank of America downgraded shares of Expeditors International of Washington from a "neutral" rating to an "underperform" rating and upped their price target for the stock from $117.00 to $118.00 in a research report on Friday, July 11th. Truist Financial upped their price target on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Finally, Barclays upped their target price 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. Seven research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, Expeditors International of Washington currently has an average rating of "Reduce" and an average target price of $114.78.

Insider Activity at Expeditors International of Washington

In other news, VP Jeffrey F. Dickerman sold 1,470 shares of the company's stock in a transaction dated 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 directly owned 7,651 shares of the company's stock, valued at $903,200.55. This represents a 16.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.69% of the stock is currently owned by company insiders.

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.