ING Groep NV Grows Stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Key Points

• ING Groep NV significantly increased its holdings in Expeditors International by 547.4% during Q1, acquiring 27,795 additional shares, bringing its total investment to approximately $3.95 million.
• Institutional investors own 94.02% of Expeditors International's shares, indicating a strong interest from funds and large stakeholders.
• Analyst ratings for Expeditors International are mixed, with five analysts issuing a sell rating and eight giving a hold rating, reflecting cautious sentiment on its stock performance.

ING Groep NV lifted its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 547.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,873 shares of the transportation company's stock after acquiring an additional 27,795 shares during the quarter. ING Groep NV's holdings in Expeditors International of Washington were worth $3,951,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its stake in Expeditors International of Washington by 53.4% during the 1st 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 during the period. State of Alaska Department of Revenue boosted its stake in Expeditors International of Washington by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 16,392 shares of the transportation company's stock worth $1,971,000 after purchasing an additional 430 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Expeditors International of Washington by 17.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,546 shares of the transportation company's stock valued at $667,000 after buying an additional 834 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Expeditors International of Washington by 2.4% during the first quarter. Brown Advisory Inc. now owns 10,390 shares of the transportation company's stock valued at $1,249,000 after buying an additional 246 shares during the last quarter. Finally, DAVENPORT & Co LLC bought a new stake in shares of Expeditors International of Washington during the first quarter valued at approximately $203,000. 94.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. upped 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 research report on Tuesday, July 8th. TD Cowen decreased their price target on shares of 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. Robert W. Baird assumed coverage on Expeditors International of Washington in a research report on Tuesday, July 1st. They set a "neutral" rating and a $124.00 price objective for the company. UBS Group lifted their target price on Expeditors International of Washington from $117.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Barclays decreased their target price 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 research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, Expeditors International of Washington has a consensus rating of "Hold" and a consensus price target of $114.22.

Expeditors International of Washington Price Performance

Shares of NASDAQ EXPD traded down $0.77 during mid-day trading on Thursday, hitting $117.96. 1,123,776 shares of the company's stock traded hands, compared to its average volume of 1,387,708. Expeditors International of Washington, Inc. has a 1 year low of $100.47 and a 1 year high of $131.59. The company's 50-day moving average is $114.79 and its two-hundred day moving average is $114.01. The company has a market capitalization of $16.15 billion, a P/E ratio of 20.62, a PEG ratio of 5.00 and a beta of 1.05.

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.