Cibc World Markets Corp Boosts Stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Cibc World Markets Corp grew its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 15.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 22,119 shares of the transportation company's stock after acquiring an additional 2,972 shares during the quarter. Cibc World Markets Corp's holdings in Expeditors International of Washington were worth $2,450,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in Expeditors International of Washington by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 833,610 shares of the transportation company's stock valued at $109,536,000 after purchasing an additional 51,265 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Expeditors International of Washington by 18.9% in the 3rd quarter. Franklin Resources Inc. now owns 193,486 shares of the transportation company's stock valued at $23,623,000 after acquiring an additional 30,785 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Expeditors International of Washington in the 3rd quarter valued at about $4,363,000. Pensionfund Sabic bought a new stake in Expeditors International of Washington during the fourth quarter worth approximately $1,329,000. Finally, Drystone LLC bought a new stake in Expeditors International of Washington during the fourth quarter worth approximately $5,925,000. 94.02% of the stock is owned by hedge funds and other institutional investors.

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Expeditors International of Washington Stock Performance

Expeditors International of Washington stock traded up $0.54 during trading hours on Tuesday, hitting $118.41. The company had a trading volume of 1,169,825 shares, compared to its average volume of 1,177,619. The firm has a market cap of $16.34 billion, a P/E ratio of 20.70, a P/E/G ratio of 5.00 and a beta of 1.00. The company has a 50-day moving average price of $115.11 and a two-hundred day moving average price of $117.88. Expeditors International of Washington, Inc. has a 1 year low of $108.36 and a 1 year high of $131.59.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Bank of America dropped their target price on Expeditors International of Washington from $129.00 to $120.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. StockNews.com lowered shares of Expeditors International of Washington from a "buy" rating to a "hold" rating in a research note on Sunday, February 16th. Stifel Nicolaus cut their price objective on shares of Expeditors International of Washington from $122.00 to $117.00 and set a "hold" rating on the stock in a research report on Thursday, January 23rd. Susquehanna raised their target price on shares of Expeditors International of Washington from $115.00 to $120.00 and gave the stock a "neutral" rating in a report on Monday, March 3rd. Finally, Benchmark reiterated a "hold" rating on shares of Expeditors International of Washington in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to MarketBeat, Expeditors International of Washington has an average rating of "Hold" and an average target price of $115.90.

Insider Activity at Expeditors International of Washington

In related news, VP Jeffrey F. Dickerman sold 1,250 shares of Expeditors International of Washington stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $117.54, for a total value of $146,925.00. Following the completion of the sale, the vice president now directly owns 7,296 shares in the company, valued at $857,571.84. The trade was a 14.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.69% of the stock is owned by company insiders.

Expeditors International of Washington 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.