Tokio Marine Asset Management Co. Ltd. Acquires 15,378 Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Key Points

• Tokio Marine Asset Management Co. Ltd. increased its stake in Expeditors International by 31.6% in the first quarter, now holding 64,093 shares valued at approximately $7.7 million.
• Several institutional investors, including Coppell Advisory Solutions and Alpine Bank Wealth Management, have recently acquired new stakes in Expeditors International, indicating growing interest among hedge funds.
• Analysts have mixed views on Expeditors International, with price targets ranging from $105 to $124 and a consensus rating of "Hold."

Tokio Marine Asset Management Co. Ltd. boosted its holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 31.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,093 shares of the transportation company's stock after buying an additional 15,378 shares during the period. Tokio Marine Asset Management Co. Ltd.'s holdings in Expeditors International of Washington were worth $7,707,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Russell Investments Group Ltd. lifted its holdings in Expeditors International of Washington by 51.5% in the first quarter. Russell Investments Group Ltd. now owns 244,322 shares of the transportation company's stock valued at $29,378,000 after buying an additional 83,040 shares during the period. Resona Asset Management Co. Ltd. raised its holdings in Expeditors International of Washington by 7.3% in the first quarter. Resona Asset Management Co. Ltd. now owns 62,214 shares of the transportation company's stock worth $7,469,000 after purchasing an additional 4,248 shares during the period. HighTower Advisors LLC raised its holdings in Expeditors International of Washington by 1.6% in the first quarter. HighTower Advisors LLC now owns 78,730 shares of the transportation company's stock worth $9,467,000 after purchasing an additional 1,264 shares during the period. Public Sector Pension Investment Board raised its holdings in Expeditors International of Washington by 9.5% in the first quarter. Public Sector Pension Investment Board now owns 19,046 shares of the transportation company's stock worth $2,290,000 after purchasing an additional 1,659 shares during the period. Finally, CCM Investment Group LLC acquired a new stake in Expeditors International of Washington in the first quarter worth $1,815,000. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Bank of America lowered shares of Expeditors International of Washington from a "neutral" rating to an "underperform" rating and increased their target price for the stock from $117.00 to $118.00 in a report on Friday, July 11th. Barclays dropped their price objective on shares of Expeditors International of Washington from $110.00 to $105.00 and set an "underweight" rating on the stock in a report on Wednesday, May 7th. Robert W. Baird assumed coverage on shares of Expeditors International of Washington in a report on Tuesday, July 1st. They set a "neutral" rating and a $124.00 price objective on the stock. UBS Group raised their price objective on shares of Expeditors International of Washington from $117.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Finally, TD Cowen dropped their price objective on shares of Expeditors International of Washington from $112.00 to $107.00 and set a "sell" rating on the stock in a report on Wednesday, May 7th. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $114.22.

Expeditors International of Washington Trading Down 0.0%

Shares of Expeditors International of Washington stock traded down $0.04 during trading on Friday, hitting $119.83. 1,171,238 shares of the stock were exchanged, compared to its average volume of 1,378,761. The stock has a market capitalization of $16.26 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 5.00 and a beta of 1.05. The company has a fifty day moving average price of $115.71 and a 200-day moving average price of $114.25. Expeditors International of Washington, Inc. has a 1-year low of $100.47 and a 1-year high of $131.59.

Insider Buying and Selling at Expeditors International of Washington

In other news, VP Jeffrey F. Dickerman sold 1,470 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $118.05, for a total transaction of $173,533.50. Following the transaction, the vice president directly owned 7,651 shares in the company, valued at $903,200.55. The trade was a 16.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.69% of the stock is owned by corporate insiders.

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.