Madison Asset Management LLC Trims Position in Expeditors International of Washington, Inc. $EXPD

Madison Asset Management LLC cut its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 1.2% in the third quarter, HoldingsChannel reports. The firm owned 547,050 shares of the transportation company’s stock after selling 6,672 shares during the period. Madison Asset Management LLC’s holdings in Expeditors International of Washington were worth $67,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH raised its holdings in shares of Expeditors International of Washington by 14.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 565,430 shares of the transportation company’s stock valued at $69,316,000 after buying an additional 69,290 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Expeditors International of Washington by 6.7% in the third quarter. Envestnet Asset Management Inc. now owns 993,697 shares of the transportation company’s stock valued at $121,817,000 after purchasing an additional 62,500 shares in the last quarter. Ascent Group LLC raised its stake in Expeditors International of Washington by 237.3% during the 3rd quarter. Ascent Group LLC now owns 10,315 shares of the transportation company’s stock worth $1,265,000 after acquiring an additional 7,257 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in shares of Expeditors International of Washington during the third quarter worth approximately $464,000. Finally, Nordea Investment Management AB grew its holdings in shares of Expeditors International of Washington by 7.4% during the third quarter. Nordea Investment Management AB now owns 648,101 shares of the transportation company’s stock worth $78,867,000 after buying an additional 44,849 shares during the last quarter. 94.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EXPD. TD Cowen raised their price target on Expeditors International of Washington from $111.00 to $131.00 and gave the company a “sell” rating in a report on Wednesday, November 5th. JPMorgan Chase & Co. reduced their price objective on Expeditors International of Washington from $134.00 to $132.00 and set an “underweight” rating on the stock in a research report on Monday, January 12th. UBS Group upgraded Expeditors International of Washington from a “neutral” rating to a “buy” rating and boosted their price target for the company from $138.00 to $166.00 in a report on Monday, November 17th. Bank of America upgraded shares of Expeditors International of Washington from a “neutral” rating to a “buy” rating in a report on Friday, January 9th. Finally, Barclays lifted their target price on Expeditors International of Washington from $110.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, January 15th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $134.10.

Expeditors International of Washington Trading Down 1.2%

Shares of EXPD stock opened at $161.72 on Wednesday. The firm has a fifty day simple moving average of $156.24 and a 200-day simple moving average of $135.92. The company has a market capitalization of $21.67 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 5.00 and a beta of 1.13. Expeditors International of Washington, Inc. has a twelve month low of $100.47 and a twelve month high of $167.19.

About Expeditors International of Washington

Expeditors International of Washington is a global logistics and freight forwarding company headquartered in Seattle, Washington. The firm specializes in providing tailored supply chain solutions that encompass air, ocean and ground transportation. Through an integrated service model, Expeditors coordinates and manages the movement of goods for a diverse customer base, including manufacturers, retailers and technology companies.

The company’s core offerings include customs brokerage, cargo insurance, distribution and warehousing services, as well as vendor consolidation and inventory management.