Millennium Management LLC Sells 239,827 Shares of Expeditors International of Washington, Inc. $EXPD

Key Points

• Millennium Management LLC reduced its stake in Expeditors International of Washington by 47.7%, selling 239,827 shares and owning 0.19% of the company, valued at approximately $31.57 million.
• Several institutional investors have increased their positions in Expeditors International, with Jacobs Levy Equity Management leading with a 516% increase, now holding 576,391 shares.
• Analysts have mixed opinions on the stock, with seven rating it as "Hold" and five as "Sell"; the average target price is set at $114.22.

Millennium Management LLC lessened its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 47.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 262,499 shares of the transportation company's stock after selling 239,827 shares during the quarter. Millennium Management LLC owned 0.19% of Expeditors International of Washington worth $31,566,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of EXPD. Alpine Bank Wealth Management bought a new position in shares of Expeditors International of Washington during the 1st quarter worth approximately $26,000. Zions Bancorporation National Association UT acquired a new position in shares of Expeditors International of Washington in the 1st quarter worth approximately $30,000. Garde Capital Inc. acquired a new position in shares of Expeditors International of Washington in the 1st quarter worth approximately $37,000. Park Square Financial Group LLC acquired a new position in shares of Expeditors International of Washington in the 4th quarter worth approximately $42,000. Finally, Twin Tree Management LP acquired a new position in shares of Expeditors International of Washington in the 1st quarter worth approximately $42,000. Institutional investors own 94.02% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EXPD. JPMorgan Chase & Co. boosted their target price on Expeditors International of Washington from $105.00 to $107.00 and gave the stock an "underweight" rating in a report on Tuesday, July 8th. Robert W. Baird began coverage on Expeditors International of Washington in a report on Tuesday, July 1st. They issued a "neutral" rating and a $124.00 target price on the stock. Baird R W raised Expeditors International of Washington to a "hold" rating in a report on Tuesday, July 1st. Truist Financial boosted their target price on Expeditors International of Washington from $105.00 to $110.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Finally, Bank of America cut shares of Expeditors International of Washington from a "neutral" rating to an "underperform" rating and boosted their price objective for the stock from $117.00 to $118.00 in a research report on Friday, July 11th. Seven equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average target price of $114.78.

Insider Activity at Expeditors International of Washington

In other Expeditors International of Washington news, VP Jeffrey F. Dickerman sold 1,470 shares of the company's 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 completion of the sale, the vice president owned 7,651 shares in the company, valued at approximately $903,200.55. The trade was a 16.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.69% of the company's stock.

Expeditors International of Washington Stock Up 0.5%

EXPD stock traded up $0.62 during trading on Tuesday, hitting $124.80. The company had a trading volume of 817,178 shares, compared to its average volume of 1,346,687. The firm has a 50-day moving average price of $118.48 and a 200-day moving average price of $115.32. Expeditors International of Washington, Inc. has a 12 month low of $100.47 and a 12 month high of $131.59. The stock has a market cap of $16.94 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 5.00 and a beta of 1.06.

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.