Expeditors International of Washington, Inc. (NASDAQ:EXPD) Shares Sold by Synovus Financial Corp

Synovus Financial Corp cut its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 50.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,490 shares of the transportation company's stock after selling 3,485 shares during the period. Synovus Financial Corp's holdings in Expeditors International of Washington were worth $387,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Townsquare Capital LLC grew its position in shares of Expeditors International of Washington by 19.9% during the fourth quarter. Townsquare Capital LLC now owns 22,080 shares of the transportation company's stock worth $2,446,000 after buying an additional 3,664 shares in the last quarter. Sterling Capital Management LLC grew its holdings in Expeditors International of Washington by 9.8% during the 4th quarter. Sterling Capital Management LLC now owns 18,947 shares of the transportation company's stock worth $2,099,000 after acquiring an additional 1,693 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in Expeditors International of Washington by 0.4% during the 4th quarter. Treasurer of the State of North Carolina now owns 63,725 shares of the transportation company's stock worth $7,059,000 after acquiring an additional 280 shares in the last quarter. Locust Wood Capital Advisers LLC acquired a new stake in shares of Expeditors International of Washington in the 4th quarter valued at $1,086,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Expeditors International of Washington during the 4th quarter worth $36,865,000. 94.02% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Jeffrey F. Dickerman sold 1,250 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $117.54, for a total transaction of $146,925.00. Following the completion of the sale, the vice president now directly owns 7,296 shares of the company's stock, valued at $857,571.84. This trade represents a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on EXPD shares. Stifel Nicolaus cut their price target on Expeditors International of Washington from $122.00 to $117.00 and set a "hold" rating on the stock in a research note on Thursday, January 23rd. StockNews.com cut Expeditors International of Washington from a "buy" rating to a "hold" rating in a research note on Sunday, February 16th. Benchmark reiterated a "hold" rating on shares of Expeditors International of Washington in a research note on Wednesday, February 19th. Truist Financial began coverage on shares of Expeditors International of Washington in a research report on Thursday, March 13th. They set a "hold" rating and a $110.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their target price on shares of Expeditors International of Washington from $114.00 to $108.00 and set an "underweight" rating on the stock in a research report on Wednesday, February 19th. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $115.90.

Expeditors International of Washington Stock Performance

Expeditors International of Washington stock traded up $1.13 during midday trading on Wednesday, hitting $108.24. 259,298 shares of the company's stock were exchanged, compared to its average volume of 1,271,162. The firm's 50 day simple moving average is $114.74 and its 200 day simple moving average is $115.91. Expeditors International of Washington, Inc. has a 12-month low of $100.47 and a 12-month high of $131.59. The stock has a market cap of $14.91 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 5.00 and a beta of 1.03.

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.