State of Wyoming Cuts Position in Expeditors International of Washington, Inc. $EXPD

Key Points

• The State of Wyoming reduced its holdings in Expeditors International of Washington, Inc. by 79.2%, leaving it with 1,137 shares valued at approximately $137,000.
• Several other institutional investors have also recently acquired shares in Expeditors, with institutional ownership now at 94.02%.
• Expeditors' stock has received mixed analyst ratings, with an average target price of $114.22 and notable rating changes from firms such as JPMorgan Chase and Bank of America.

State of Wyoming reduced its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 79.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,137 shares of the transportation company's stock after selling 4,335 shares during the quarter. State of Wyoming's holdings in Expeditors International of Washington were worth $137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of EXPD. Invesco Ltd. increased its position in Expeditors International of Washington by 23.4% during the first quarter. Invesco Ltd. now owns 3,039,899 shares of the transportation company's stock valued at $365,548,000 after acquiring an additional 576,468 shares during the last quarter. GAMMA Investing LLC increased its position in Expeditors International of Washington by 13,910.4% during the first quarter. GAMMA Investing LLC now owns 507,455 shares of the transportation company's stock valued at $61,021,000 after acquiring an additional 503,833 shares during the last quarter. Boston Partners increased its position in Expeditors International of Washington by 13.1% during the first quarter. Boston Partners now owns 4,295,924 shares of the transportation company's stock valued at $516,385,000 after acquiring an additional 498,212 shares during the last quarter. Nuveen LLC purchased a new stake in Expeditors International of Washington during the first quarter valued at $43,816,000. Finally, Two Sigma Advisers LP increased its position in Expeditors International of Washington by 57.0% during the fourth quarter. Two Sigma Advisers LP now owns 669,700 shares of the transportation company's stock valued at $74,183,000 after acquiring an additional 243,200 shares during the last quarter. Hedge funds and other institutional investors own 94.02% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on EXPD. Barclays increased their price target on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the stock an "underweight" rating in a research report on Thursday. UBS Group increased 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 research report on Wednesday, August 6th. Bank of America cut Expeditors International of Washington from a "neutral" rating to an "underperform" rating and upped their price target for the stock from $117.00 to $118.00 in a research report on Friday, July 11th. Baird R W upgraded Expeditors International of Washington to a "hold" rating in a research report on Tuesday, July 1st. Finally, Robert W. Baird assumed coverage on Expeditors International of Washington in a research report on Tuesday, July 1st. They issued a "neutral" rating and a $124.00 price target for the company. Seven analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat, Expeditors International of Washington presently has an average rating of "Reduce" and a consensus price target of $114.78.

Insiders Place Their Bets

In related news, VP Jeffrey F. Dickerman sold 1,470 shares of the firm'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 transaction, the vice president directly owned 7,651 shares of the company's stock, 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 legal filing with the SEC, which is accessible through this link. Insiders own 0.69% of the company's stock.

Expeditors International of Washington Price Performance

Shares of NASDAQ:EXPD traded up $0.26 during trading on Friday, hitting $123.61. 1,058,851 shares of the company's stock were exchanged, compared to its average volume of 1,352,780. Expeditors International of Washington, Inc. has a 52-week low of $100.47 and a 52-week high of $131.59. The business's 50-day simple moving average is $118.17 and its 200 day simple moving average is $115.24. The company has a market cap of $16.78 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 5.00 and a beta of 1.06.

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.