Expeditors International of Washington, Inc. $EXPD Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp reduced its ownership in Expeditors International by 9.8%, selling 8,952 shares during the second quarter, bringing their total to 82,316 shares valued at approximately $9.4 million.
• Insider sales were noted, with VP Jeffrey F. Dickerman selling 1,470 shares for about $173,533, resulting in a 16.12% decrease in his holdings.
• Analysts have varied ratings on Expeditors International, with target prices ranging from $105 to $120, indicating a general sentiment of caution among investors.

Truist Financial Corp cut its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 9.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 82,316 shares of the transportation company's stock after selling 8,952 shares during the quarter. Truist Financial Corp owned 0.06% of Expeditors International of Washington worth $9,405,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new position in shares of Expeditors International of Washington during the 1st quarter valued at $26,000. Zions Bancorporation National Association UT bought a new stake in Expeditors International of Washington during the first quarter worth approximately $30,000. Garde Capital Inc. bought a new stake in Expeditors International of Washington during the first quarter worth approximately $37,000. Ransom Advisory Ltd bought a new stake in Expeditors International of Washington during the first quarter worth approximately $41,000. Finally, Twin Tree Management LP bought a new stake in Expeditors International of Washington during the first quarter worth approximately $42,000. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Expeditors International of Washington

In other news, VP Jeffrey F. Dickerman sold 1,470 shares of the stock in a transaction 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 transaction, the vice president owned 7,651 shares in the company, valued at $903,200.55. This represents a 16.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.69% of the stock is currently owned by company insiders.

Expeditors International of Washington Stock Up 0.4%

Shares of EXPD opened at $123.55 on Monday. The company's fifty day moving average is $120.31 and its 200-day moving average is $115.65. Expeditors International of Washington, Inc. has a 12 month low of $100.47 and a 12 month high of $129.15. The firm has a market cap of $16.77 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 5.00 and a beta of 1.09.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays raised their target price on shares of 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 upgraded shares of Expeditors International of Washington to a "hold" rating in a report on Tuesday, July 1st. JPMorgan Chase & Co. raised 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. UBS Group raised 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. Finally, Truist Financial raised 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. Seven research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $114.78.

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.

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