Jacobs Levy Equity Management Inc. Buys 482,814 Shares of Expeditors International of Washington, Inc. $EXPD

Key Points

• Jacobs Levy Equity Management Inc. significantly increased its stake in Expeditors International by 516%, holding $69.31 million in shares after acquiring 482,814 additional shares.
• Several hedge funds have also raised their investments in Expeditors International, with Boston Partners increasing its stake by 13.1%, now owning 4,295,924 shares worth $516.39 million.
• Expeditors International's stock currently has an average rating of "Reduce" among analysts, with a consensus target price of $114.22.

Jacobs Levy Equity Management Inc. increased its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 516.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 576,391 shares of the transportation company's stock after purchasing an additional 482,814 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.42% of Expeditors International of Washington worth $69,311,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Alliancebernstein L.P. increased its position in shares of Expeditors International of Washington by 1.9% during the first quarter. Alliancebernstein L.P. now owns 156,573 shares of the transportation company's stock valued at $18,828,000 after purchasing an additional 2,886 shares during the period. Ancora Advisors LLC increased its position in shares of Expeditors International of Washington by 0.7% during the first quarter. Ancora Advisors LLC now owns 15,975 shares of the transportation company's stock valued at $1,921,000 after purchasing an additional 118 shares during the period. Adage Capital Partners GP L.L.C. increased its position in shares of Expeditors International of Washington by 80.4% during the first quarter. Adage Capital Partners GP L.L.C. now owns 127,700 shares of the transportation company's stock valued at $15,356,000 after purchasing an additional 56,900 shares during the period. Federation des caisses Desjardins du Quebec increased its position in shares of Expeditors International of Washington by 15.9% during the first quarter. Federation des caisses Desjardins du Quebec now owns 21,272 shares of the transportation company's stock valued at $2,558,000 after purchasing an additional 2,922 shares during the period. Finally, Perbak Capital Partners LLP bought a new stake in shares of Expeditors International of Washington during the first quarter valued at approximately $566,000. 94.02% of the stock is currently owned by institutional investors.

Expeditors International of Washington Price Performance

NASDAQ:EXPD traded down $0.75 during trading hours on Tuesday, reaching $120.97. 1,009,985 shares of the stock were exchanged, compared to its average volume of 1,355,968. Expeditors International of Washington, Inc. has a twelve month low of $100.47 and a twelve month high of $131.59. The firm has a 50 day moving average of $117.85 and a 200 day moving average of $115.07. The stock has a market cap of $16.42 billion, a PE ratio of 21.15, a PEG ratio of 5.00 and a beta of 1.06.

Wall Street Analyst Weigh In

EXPD has been the topic of a number of research reports. Baird R W upgraded Expeditors International of Washington to a "hold" rating in a research report on Tuesday, July 1st. Robert W. Baird assumed coverage on Expeditors International of Washington in a research note on Tuesday, July 1st. They issued a "neutral" rating and a $124.00 price target on the stock. Bank of America lowered Expeditors International of Washington from a "neutral" rating to an "underperform" rating and boosted their price target for the company from $117.00 to $118.00 in a research note on Friday, July 11th. JPMorgan Chase & Co. boosted their price target on Expeditors International of Washington from $105.00 to $107.00 and gave the company an "underweight" rating in a research note on Tuesday, July 8th. Finally, Truist Financial boosted their price target 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. Seven research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $114.22.

Insiders Place Their Bets

In other Expeditors International of Washington news, VP Jeffrey F. Dickerman sold 1,470 shares of the firm'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 completion of the transaction, the vice president directly owned 7,651 shares in the company, valued at $903,200.55. This trade represents a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.69% of the stock is currently owned by corporate insiders.

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.