VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Expeditors International of Washington, Inc. $EXPD

Key Points

• Virginia Retirement Systems made a new investment in Expeditors International by purchasing 188,121 shares valued at approximately $21.5 million during the second quarter.
• Multiple institutional investors have recently entered new positions in Expeditors International, with 94.02% of the stock now owned by institutions.
• Analysts have varied in their outlook on EXPD, with price targets ranging from $110.00 to $124.00, and an average rating of "Reduce" according to recent reports.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 188,121 shares of the transportation company's stock, valued at approximately $21,493,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.14% of Expeditors International of Washington as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alpine Bank Wealth Management acquired a new position in Expeditors International of Washington in the first quarter valued at about $26,000. Zions Bancorporation National Association UT bought a new stake in shares of Expeditors International of Washington in the 1st quarter valued at about $30,000. Garde Capital Inc. acquired a new stake in shares of Expeditors International of Washington in the 1st quarter valued at approximately $37,000. Ransom Advisory Ltd bought a new position in Expeditors International of Washington during the 1st quarter worth approximately $41,000. Finally, Twin Tree Management LP bought a new position in Expeditors International of Washington during the 1st quarter worth approximately $42,000. 94.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EXPD has been the topic of several analyst reports. Robert W. Baird began coverage on shares of 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. Stifel Nicolaus lowered their price objective on shares of Expeditors International of Washington from $118.00 to $114.00 and set a "hold" rating for the company in a research report on Friday, October 10th. UBS Group lifted their target price on Expeditors International of Washington from $117.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. boosted their target price 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 raised their price target on Expeditors International of Washington from $105.00 to $110.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Seven analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $114.44.

Insider Activity

In related 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 transaction of $173,533.50. Following the completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.69% of the company's stock.

Expeditors International of Washington Trading Up 1.5%

Shares of NASDAQ EXPD opened at $120.00 on Monday. The company has a fifty day moving average price of $120.79 and a 200 day moving average price of $115.62. The firm has a market cap of $16.29 billion, a PE ratio of 20.98, a PEG ratio of 5.00 and a beta of 1.09. Expeditors International of Washington, Inc. has a 1-year low of $100.47 and a 1-year high of $129.15.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.