Wells Fargo & Company MN cut its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 26.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 231,961 shares of the transportation company's stock after selling 84,230 shares during the quarter. Wells Fargo & Company MN owned 0.17% of Expeditors International of Washington worth $25,694,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Landscape Capital Management L.L.C. purchased a new stake in shares of Expeditors International of Washington in the fourth quarter worth approximately $839,000. ExodusPoint Capital Management LP purchased a new stake in Expeditors International of Washington in the 4th quarter worth approximately $7,298,000. World Investment Advisors boosted its stake in shares of Expeditors International of Washington by 44.7% during the 4th quarter. World Investment Advisors now owns 2,442 shares of the transportation company's stock valued at $271,000 after buying an additional 754 shares during the period. Westpac Banking Corp increased its stake in shares of Expeditors International of Washington by 15.0% in the fourth quarter. Westpac Banking Corp now owns 35,767 shares of the transportation company's stock worth $3,962,000 after acquiring an additional 4,672 shares during the last quarter. Finally, Huntington National Bank raised its holdings in shares of Expeditors International of Washington by 65.0% during the fourth quarter. Huntington National Bank now owns 3,027 shares of the transportation company's stock worth $335,000 after acquiring an additional 1,192 shares in the last quarter. 94.02% of the stock is currently owned by institutional investors and hedge funds.
Expeditors International of Washington Price Performance
Shares of EXPD traded up $0.77 on Thursday, reaching $106.25. 241,058 shares of the stock traded hands, compared to its average volume of 1,276,097. The firm has a market cap of $14.64 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 5.00 and a beta of 1.03. Expeditors International of Washington, Inc. has a 12 month low of $100.47 and a 12 month high of $131.59. The stock's 50-day moving average price is $115.21 and its 200-day moving average price is $116.51.
Insider Activity
In related news, VP Jeffrey F. Dickerman sold 1,250 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $117.54, for a total value of $146,925.00. Following the sale, the vice president now owns 7,296 shares of the company's stock, valued at $857,571.84. The trade was a 14.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.69% of the company's stock.
Wall Street Analyst Weigh In
EXPD has been the subject of a number of recent research reports. Benchmark reaffirmed a "hold" rating on shares of Expeditors International of Washington in a research note on Wednesday, February 19th. JPMorgan Chase & Co. cut their price target on shares of Expeditors International of Washington from $114.00 to $108.00 and set an "underweight" rating on the stock in a report on Wednesday, February 19th. Truist Financial started coverage on Expeditors International of Washington in a report on Thursday, March 13th. They set a "hold" rating and a $110.00 target price on the stock. Bank of America decreased their price target on Expeditors International of Washington from $129.00 to $120.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Finally, StockNews.com lowered Expeditors International of Washington from a "buy" rating to a "hold" rating in a report on Sunday, February 16th. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $115.90.
Read Our Latest Stock Report on EXPD
About Expeditors International of Washington
(
Free Report)
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.
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