Hsbc Holdings PLC Increases Stake in Expeditors International of Washington, Inc. $EXPD

Key Points

• Hsbc Holdings PLC increased its stake in Expeditors International of Washington by 3.8%, now owning approximately 0.45% of the company's shares worth $73.24 million.
• Shares of Expeditors International have seen a 1.7% decline recently, with a current trading price of approximately $119.36 and a market capitalization of $16.20 billion.
• Analysts have mixed ratings for the stock, with a consensus rating of "Reduce" and average price target of $114.22, reflecting cautious sentiment among equity researchers.

Hsbc Holdings PLC lifted its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 620,351 shares of the transportation company's stock after purchasing an additional 22,484 shares during the period. Hsbc Holdings PLC owned about 0.45% of Expeditors International of Washington worth $73,241,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Coppell Advisory Solutions LLC bought a new position in shares of Expeditors International of Washington in the fourth quarter worth about $25,000. Alpine Bank Wealth Management bought a new position in shares of Expeditors International of Washington in the first quarter worth about $26,000. Zions Bancorporation National Association UT bought a new position in shares of Expeditors International of Washington in the first quarter worth about $30,000. Garde Capital Inc. bought a new position in shares of Expeditors International of Washington in the first quarter worth about $37,000. Finally, Colonial Trust Co SC grew its holdings in shares of Expeditors International of Washington by 58.6% in the fourth quarter. Colonial Trust Co SC now owns 352 shares of the transportation company's stock worth $39,000 after purchasing an additional 130 shares during the last quarter. 94.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EXPD has been the topic of several recent research reports. TD Cowen dropped their target price on shares of Expeditors International of Washington from $112.00 to $107.00 and set a "sell" rating on the stock in a report on Wednesday, May 7th. Robert W. Baird initiated coverage on shares of Expeditors International of Washington in a report on Tuesday, July 1st. They set a "neutral" rating and a $124.00 target price on the stock. Bank of America cut shares of Expeditors International of Washington from a "neutral" rating to an "underperform" rating and increased their target price for the stock from $117.00 to $118.00 in a report on Friday, July 11th. JPMorgan Chase & Co. increased their target price on shares of Expeditors International of Washington from $105.00 to $107.00 and gave the stock an "underweight" rating in a report on Tuesday, July 8th. Finally, Barclays dropped their target price on shares of Expeditors International of Washington from $110.00 to $105.00 and set an "underweight" rating on the stock in a report on Wednesday, May 7th. Seven research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $114.22.

Expeditors International of Washington Trading Up 0.9%

Shares of NASDAQ:EXPD traded up $1.03 during trading on Tuesday, reaching $121.38. The stock had a trading volume of 205,373 shares, compared to its average volume of 1,355,931. Expeditors International of Washington, Inc. has a one year low of $100.47 and a one year high of $131.59. The company has a market capitalization of $16.47 billion, a P/E ratio of 21.19, a PEG ratio of 5.00 and a beta of 1.05. The firm's 50-day simple moving average is $116.37 and its 200 day simple moving average is $114.60.

Insider Buying and Selling at Expeditors International of Washington

In other news, VP Jeffrey F. Dickerman sold 1,470 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $118.05, for a total value of $173,533.50. Following the sale, the vice president directly owned 7,651 shares in the company, valued at approximately $903,200.55. This trade represents a 16.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.