Mizuho Markets Americas LLC Decreases Stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Key Points

• Mizuho Markets Americas LLC has decreased its stake in Expeditors International by 50.5%, owning 11,011 shares worth approximately $1.32 million as of the end of the first quarter.
• Other institutional investors have increased their holdings, with Federated Hermes Inc. boosting its position by 60.9% and Bank of Nova Scotia raising its stake by 88.3% during the fourth quarter.
• The stock has a market cap of $16.03 billion and currently has an average target price of $114.22, with several analysts giving it a "hold" rating amidst mixed forecasts.

Mizuho Markets Americas LLC cut its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 50.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,011 shares of the transportation company's stock after selling 11,237 shares during the period. Mizuho Markets Americas LLC's holdings in Expeditors International of Washington were worth $1,324,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its holdings in Expeditors International of Washington by 60.9% in the fourth quarter. Federated Hermes Inc. now owns 9,082 shares of the transportation company's stock valued at $1,006,000 after acquiring an additional 3,437 shares during the last quarter. Bank of Montreal Can raised its stake in Expeditors International of Washington by 11.9% during the fourth quarter. Bank of Montreal Can now owns 151,875 shares of the transportation company's stock worth $16,823,000 after buying an additional 16,210 shares during the last quarter. Bank of Nova Scotia lifted its holdings in Expeditors International of Washington by 88.3% in the fourth quarter. Bank of Nova Scotia now owns 34,024 shares of the transportation company's stock valued at $3,769,000 after buying an additional 15,959 shares during the period. Raymond James Financial Inc. bought a new stake in Expeditors International of Washington during the fourth quarter valued at $36,865,000. Finally, Treasurer of the State of North Carolina grew its holdings in Expeditors International of Washington by 0.4% during the 4th quarter. Treasurer of the State of North Carolina now owns 63,725 shares of the transportation company's stock worth $7,059,000 after acquiring an additional 280 shares during the period. 94.02% of the stock is owned by institutional investors.

Expeditors International of Washington Stock Performance

Shares of Expeditors International of Washington stock traded down $1.96 on Thursday, hitting $120.30. The company had a trading volume of 296,002 shares, compared to its average volume of 1,374,245. The stock has a market capitalization of $16.33 billion, a price-to-earnings ratio of 21.03, a P/E/G 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. The stock has a 50 day moving average of $115.38 and a 200-day moving average of $114.18.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EXPD shares. Barclays cut their price target on 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. UBS Group raised their price target 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. Baird R W upgraded shares of Expeditors International of Washington to a "hold" rating in a report on Tuesday, July 1st. Bank of America downgraded Expeditors International of Washington from a "neutral" rating to an "underperform" rating and raised their target price for the company from $117.00 to $118.00 in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. boosted their target price on Expeditors International of Washington from $105.00 to $107.00 and gave the company an "underweight" rating in a research report on Tuesday, July 8th. Five analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $114.22.

Insider Transactions at Expeditors International of Washington

In other news, VP Jeffrey F. Dickerman sold 1,470 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $118.05, for a total value of $173,533.50. Following the transaction, the vice president owned 7,651 shares in the company, valued at $903,200.55. The trade was a 16.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.69% of the stock is 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.