Expeditors International of Washington, Inc. $EXPD Shares Sold by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP reduced its stake in Expeditors International by 34.4% in the first quarter, now holding 29,864 shares valued at approximately $3.59 million.
• Several large investors, including Invesco Ltd. and GAMMA Investing LLC, significantly increased their positions in Expeditors International during the same period.
• Analysts have mixed ratings on Expeditors International, with a consensus target price of $114.22 and a notable recent downgrade from TD Cowen setting a price objective of $107.00.

Quantbot Technologies LP lowered its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 34.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 29,864 shares of the transportation company's stock after selling 15,682 shares during the quarter. Quantbot Technologies LP's holdings in Expeditors International of Washington were worth $3,591,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Mariner LLC grew its position in Expeditors International of Washington by 4.4% in the 4th quarter. Mariner LLC now owns 26,738 shares of the transportation company's stock valued at $2,962,000 after acquiring an additional 1,121 shares during the last quarter. NewEdge Advisors LLC grew its position in Expeditors International of Washington by 2.7% in the 4th quarter. NewEdge Advisors LLC now owns 8,236 shares of the transportation company's stock valued at $912,000 after acquiring an additional 214 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Expeditors International of Washington by 4.4% in the 4th quarter. Canada Pension Plan Investment Board now owns 47,718 shares of the transportation company's stock valued at $5,286,000 after acquiring an additional 2,002 shares during the last quarter. Forum Financial Management LP grew its position in Expeditors International of Washington by 48.3% in the 4th quarter. Forum Financial Management LP now owns 2,419 shares of the transportation company's stock valued at $268,000 after acquiring an additional 788 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Expeditors International of Washington by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,323,249 shares of the transportation company's stock valued at $146,579,000 after acquiring an additional 23,425 shares during the last quarter. Institutional investors own 94.02% of the company's stock.

Expeditors International of Washington Price Performance

Expeditors International of Washington stock traded up $1.5010 during midday trading on Friday, reaching $119.9110. The company's stock had a trading volume of 1,045,338 shares, compared to its average volume of 1,365,306. The stock's 50-day simple moving average is $116.26 and its 200-day simple moving average is $114.48. Expeditors International of Washington, Inc. has a 52-week low of $100.47 and a 52-week high of $131.59. The stock has a market capitalization of $16.27 billion, a P/E ratio of 20.96, a PEG ratio of 5.00 and a beta of 1.05.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EXPD. Bank of America cut Expeditors International of Washington from a "neutral" rating to an "underperform" rating and upped their target price for the stock from $117.00 to $118.00 in a report on Friday, July 11th. 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 for the company. Barclays lowered their target price on Expeditors International of Washington from $110.00 to $105.00 and set an "underweight" rating for the company in a report on Wednesday, May 7th. UBS Group upped their price objective on Expeditors International of Washington from $117.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Finally, TD Cowen decreased their price objective on Expeditors International of Washington from $112.00 to $107.00 and set a "sell" rating for the company in a research note on Wednesday, May 7th. Seven investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Expeditors International of Washington presently has an average rating of "Reduce" and an average price target of $114.22.

Insider Buying and Selling

In other Expeditors International of Washington news, VP Jeffrey F. Dickerman sold 1,470 shares of the stock in a transaction dated 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 sale, the vice president directly owned 7,651 shares in the company, valued at approximately $903,200.55. This trade represents a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.69% of the company's stock.

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.