Expeditors International of Washington, Inc. $EXPD Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Expeditors International of Washington by 9.6%, now owning 45,774 shares valued at approximately $5.5 million.
• Institutional investors and hedge funds collectively own 94.02% of Expeditors International's stock, highlighting significant institutional interest in the company.
• Analysts have mixed views on the stock, with Barclays lowering its target price to $105 and JPMorgan raising it to $107, while overall ratings reflect a consensus of "Hold."

State of New Jersey Common Pension Fund D decreased its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 9.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,774 shares of the transportation company's stock after selling 4,866 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Expeditors International of Washington were worth $5,504,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its stake in Expeditors International of Washington by 53.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 160,855 shares of the transportation company's stock valued at $19,343,000 after purchasing an additional 56,008 shares in the last quarter. State of Alaska Department of Revenue raised its stake 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 valued at $1,971,000 after acquiring an additional 430 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake 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 valued at $667,000 after acquiring an additional 834 shares during the period. Brown Advisory Inc. raised its stake 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 valued at $1,249,000 after acquiring an additional 246 shares during the period. Finally, DAVENPORT & Co LLC bought a new position in shares of Expeditors International of Washington in the first quarter worth about $203,000. Hedge funds and other institutional investors own 94.02% of the company's stock.

Insider Activity at Expeditors International of Washington

In related news, VP Jeffrey F. Dickerman sold 1,470 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $118.05, for a total value of $173,533.50. Following the completion of the transaction, the vice president directly owned 7,651 shares of the company's stock, valued at $903,200.55. This trade represents a 16.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.69% of the stock is owned by insiders.

Expeditors International of Washington Stock Up 1.3%

Shares of Expeditors International of Washington stock traded up $1.5010 during midday trading on Friday, hitting $119.9110. The company had a trading volume of 1,045,338 shares, compared to its average volume of 1,365,306. The stock has a market cap of $16.27 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 5.00 and a beta of 1.05. The company has a fifty day simple moving average of $116.26 and a 200 day simple moving average of $114.48. Expeditors International of Washington, Inc. has a 12-month low of $100.47 and a 12-month high of $131.59.

Wall Street Analyst Weigh In

EXPD has been the topic of several recent research reports. UBS Group increased their target price on shares of Expeditors International of Washington from $117.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. 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. 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. Truist Financial increased their target price on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Finally, 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. Seven equities research 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.com, Expeditors International of Washington presently has a consensus rating of "Reduce" and a consensus target price of $114.22.

Expeditors International of Washington Company 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.