Royal Bank of Canada Acquires 111,161 Shares of Expeditors International of Washington, Inc. $EXPD

Key Points

• Royal Bank of Canada increased its stake in Expeditors International of Washington by 11.9%, owning approximately 1,044,904 shares valued at $125.6 million as of the last SEC filing.
• Investment analysts have mixed ratings for Expeditors, with seven analystsfive giving a "Sell" rating, leading to an average price target of $114.22.
• Insider selling occurred as VP Jeffrey F. Dickerman sold 1,470 shares at an average price of $118.05, reducing his ownership by 16.12%.

Royal Bank of Canada lifted its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 11.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,044,904 shares of the transportation company's stock after purchasing an additional 111,161 shares during the quarter. Royal Bank of Canada owned 0.76% of Expeditors International of Washington worth $125,649,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EXPD. Wealth Enhancement Advisory Services LLC raised its position in shares of Expeditors International of Washington by 53.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 160,855 shares of the transportation company's stock worth $19,343,000 after buying an additional 56,008 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Expeditors International of Washington by 2.7% in the first 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 position in shares of Expeditors International of Washington by 17.7% in the first 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 position in shares of Expeditors International of Washington by 2.4% in the first 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 stake in shares of Expeditors International of Washington in the first quarter worth $203,000. 94.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on EXPD. Baird R W raised Expeditors International of Washington to a "hold" rating in a research note on Tuesday, July 1st. Bank of America cut Expeditors International of Washington from a "neutral" rating to an "underperform" rating and upped their price objective for the stock from $117.00 to $118.00 in a report on Friday, July 11th. Robert W. Baird started coverage on Expeditors International of Washington in a report on Tuesday, July 1st. They issued a "neutral" rating and a $124.00 price objective for the company. UBS Group upped their price objective on Expeditors International of Washington from $117.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. upped their price objective on Expeditors International of Washington from $105.00 to $107.00 and gave the stock an "underweight" rating in a report on Tuesday, July 8th. Seven 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 has a consensus rating of "Reduce" and a consensus target price of $114.22.

Insider Transactions at Expeditors International of Washington

In related 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 value of $173,533.50. Following the transaction, the vice president directly owned 7,651 shares of the company's stock, valued at approximately $903,200.55. This represents a 16.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.69% of the company's stock.

Expeditors International of Washington Price Performance

EXPD traded up $0.35 during midday trading on Monday, reaching $121.26. 144,579 shares of the company's stock traded hands, compared to its average volume of 1,348,403. Expeditors International of Washington, Inc. has a 52 week low of $100.47 and a 52 week high of $131.59. The stock has a market capitalization of $16.46 billion, a price-to-earnings ratio of 21.20, a P/E/G ratio of 5.00 and a beta of 1.06. The firm has a fifty day moving average of $117.70 and a two-hundred day moving average of $115.03.

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.