Expeditors International of Washington, Inc. $EXPD Shares Sold by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions Inc. reduced its stake in Expeditors International by 46.9% during the second quarter, resulting in ownership of 6,193 shares worth $708,000.
• Several institutional investors, including Boston Partners and Invesco Ltd., increased their stakes in Expeditors International, contributing to 94.02% of the stock being owned by institutional investors.
• Expeditors International's stock has seen varying analyst ratings, with a consensus rating of "Reduce" and an average price target of $114.44, despite recent price target increases from firms like UBS Group and JPMorgan Chase & Co.

Envestnet Portfolio Solutions Inc. reduced its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 46.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,193 shares of the transportation company's stock after selling 5,462 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Expeditors International of Washington were worth $708,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Boston Partners raised its stake in Expeditors International of Washington by 13.1% in the first quarter. Boston Partners now owns 4,295,924 shares of the transportation company's stock valued at $516,385,000 after buying an additional 498,212 shares in the last quarter. Invesco Ltd. raised its stake in Expeditors International of Washington by 23.4% in the first quarter. Invesco Ltd. now owns 3,039,899 shares of the transportation company's stock valued at $365,548,000 after buying an additional 576,468 shares in the last quarter. Baird Financial Group Inc. raised its stake in Expeditors International of Washington by 4.8% in the first quarter. Baird Financial Group Inc. now owns 1,845,102 shares of the transportation company's stock valued at $221,874,000 after buying an additional 84,556 shares in the last quarter. Marshfield Associates raised its stake in Expeditors International of Washington by 0.8% in the first quarter. Marshfield Associates now owns 1,841,746 shares of the transportation company's stock valued at $221,470,000 after buying an additional 14,127 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Expeditors International of Washington by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,359,561 shares of the transportation company's stock valued at $163,476,000 after buying an additional 36,312 shares in the last quarter. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Expeditors International of Washington Stock Up 0.4%

NASDAQ EXPD opened at $120.41 on Tuesday. Expeditors International of Washington, Inc. has a 52-week low of $100.47 and a 52-week high of $129.15. The business's 50-day moving average price is $120.86 and its 200 day moving average price is $115.70. The firm has a market cap of $16.34 billion, a P/E ratio of 21.05, a P/E/G ratio of 5.00 and a beta of 1.09.

Analyst Ratings Changes

EXPD has been the topic of a number of analyst reports. UBS Group raised their price target 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. JPMorgan Chase & Co. raised 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. Barclays raised their price objective on Expeditors International of Washington from $105.00 to $110.00 and gave the stock an "underweight" rating in a report on Thursday, September 11th. Baird R W raised Expeditors International of Washington to a "hold" rating in a report on Tuesday, July 1st. Finally, Stifel Nicolaus dropped their price objective on Expeditors International of Washington from $118.00 to $114.00 and set a "hold" rating on the stock in a report on Friday, October 10th. Seven analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $114.44.

Insider Activity

In related news, VP Jeffrey F. Dickerman sold 1,470 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $118.05, for a total transaction of $173,533.50. Following the transaction, the vice president owned 7,651 shares of the company's stock, 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 through this link. 0.69% of the stock is currently owned by corporate 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.

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