Forsta AP Fonden Has $9.32 Million Stock Holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Key Points

• Forsta AP Fonden reduced its stake in Expeditors International by 6.9% in the first quarter, now holding 77,500 shares valued at approximately $9.32 million.
• Several institutional investors, including Wealth Enhancement Advisory Services and Cambridge Investment Research Advisors, increased their holdings in Expeditors International, highlighting strong institutional interest with 94.02% of the stock held by institutions.
• Analysts have varied opinions on Expeditors International, with target prices ranging from $107 to $124, reflecting a mixed sentiment, as five analysts rate it a "sell" while eight recommend holding the stock.

Forsta AP Fonden trimmed its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 6.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,500 shares of the transportation company's stock after selling 5,700 shares during the quarter. Forsta AP Fonden owned approximately 0.06% of Expeditors International of Washington worth $9,319,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. National Bank of Canada FI grew its position in Expeditors International of Washington by 6.0% during the first quarter. National Bank of Canada FI now owns 83,121 shares of the transportation company's stock valued at $9,995,000 after acquiring an additional 4,728 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Expeditors International of Washington by 8.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 303,198 shares of the transportation company's stock worth $36,460,000 after buying an additional 23,669 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Expeditors International of Washington by 7.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 976,329 shares of the transportation company's stock worth $117,404,000 after buying an additional 71,592 shares during the period. ASR Vermogensbeheer N.V. purchased a new stake in shares of Expeditors International of Washington in the first quarter worth about $3,973,000. Finally, Lester Murray Antman dba SimplyRich acquired a new position in shares of Expeditors International of Washington in the first quarter worth about $209,000. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Expeditors International of Washington Stock Down 1.6%

Shares of EXPD traded down $1.90 during mid-day trading on Thursday, reaching $120.35. The company's stock had a trading volume of 276,487 shares, compared to its average volume of 1,374,049. The business has a fifty day moving average of $115.38 and a 200 day moving average of $114.18. The company has a market cap of $16.33 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 5.00 and a beta of 1.05. Expeditors International of Washington, Inc. has a 1 year low of $100.47 and a 1 year high of $131.59.

Wall Street Analysts Forecast Growth

EXPD has been the topic of several recent analyst reports. Bank of America cut Expeditors International of Washington from a "neutral" rating to an "underperform" rating and boosted their price target for the stock from $117.00 to $118.00 in a research note on Friday, July 11th. TD Cowen cut their price objective on Expeditors International of Washington from $112.00 to $107.00 and set a "sell" rating on the stock in a research note on Wednesday, May 7th. Truist Financial upped their price objective on Expeditors International of Washington from $105.00 to $110.00 and gave the company a "hold" rating in a research note on Monday, June 30th. JPMorgan Chase & Co. increased their price target on Expeditors International of Washington from $105.00 to $107.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 8th. Finally, Barclays dropped their price target on Expeditors International of Washington from $110.00 to $105.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 7th. Five equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, Expeditors International of Washington has a consensus rating of "Hold" and an average target price of $114.22.

Insider Activity

In other Expeditors International of Washington 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 directly owned 7,651 shares of the company's stock, valued at $903,200.55. This 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 the SEC website. Corporate insiders own 0.69% of the company's stock.

Expeditors International of Washington 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.