Advisors Capital Management LLC Cuts Stock Position in Expeditors International of Washington, Inc. $EXPD

Key Points

• Advisors Capital Management LLC reduced its stake in Expeditors International of Washington by 52.3%, holding 1,850 shares worth approximately $223,000 after selling 2,029 shares in Q1.
• Institutional investors own around 94.02% of Expeditors International’s stock, with several firms acquiring new stakes in the company during the first quarter.
• The stock has a market cap of $16.78 billion, with a recent trading range between a one-year low of $100.47 and a high of $131.59.

Advisors Capital Management LLC trimmed its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 52.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,850 shares of the transportation company's stock after selling 2,029 shares during the quarter. Advisors Capital Management LLC's holdings in Expeditors International of Washington were worth $223,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EXPD. Invesco Ltd. grew its position in Expeditors International of Washington by 23.4% during the 1st quarter. Invesco Ltd. now owns 3,039,899 shares of the transportation company's stock valued at $365,548,000 after purchasing an additional 576,468 shares during the last quarter. GAMMA Investing LLC grew 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 valued at $61,021,000 after purchasing an additional 503,833 shares during the last quarter. Boston Partners grew 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 valued at $516,385,000 after purchasing an additional 498,212 shares during the last quarter. Jacobs Levy Equity Management Inc. grew 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 valued at $69,311,000 after purchasing an additional 482,814 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Expeditors International of Washington during the 1st quarter valued at about $43,816,000. 94.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EXPD has been the topic of a number of recent analyst reports. Bank of America downgraded shares of Expeditors International of Washington from a "neutral" rating to an "underperform" rating and raised their price target for the company from $117.00 to $118.00 in a report on Friday, July 11th. UBS Group raised their price target on shares of Expeditors International of Washington from $117.00 to $120.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Baird R W raised shares of Expeditors International of Washington to a "hold" rating in a report on Tuesday, July 1st. JPMorgan Chase & Co. raised their price target on shares of Expeditors International of Washington from $105.00 to $107.00 and gave the company an "underweight" rating in a report on Tuesday, July 8th. Finally, Barclays raised their price target on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the company an "underweight" rating in a report on Thursday, September 11th. Seven investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $114.78.

Expeditors International of Washington Stock Performance

Shares of Expeditors International of Washington stock traded down $0.89 on Thursday, hitting $124.06. 1,329,769 shares of the company traded hands, compared to its average volume of 1,345,327. The stock has a market capitalization of $16.84 billion, a P/E ratio of 21.69, a price-to-earnings-growth ratio of 5.00 and a beta of 1.06. Expeditors International of Washington, Inc. has a 52 week low of $100.47 and a 52 week high of $131.59. The business has a 50-day simple moving average of $118.72 and a 200 day simple moving average of $115.43.

Insider Activity

In other news, VP Jeffrey F. Dickerman sold 1,470 shares of Expeditors International of Washington stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $118.05, for a total transaction of $173,533.50. Following the sale, the vice president owned 7,651 shares in the company, valued at $903,200.55. This trade represents a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.69% of the stock is currently owned by 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.