JPMorgan Chase & Co. Buys 91,759 Shares of Expeditors International of Washington, Inc. $EXPD

JPMorgan Chase & Co. raised its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 9.0% in the third quarter, Holdings Channel reports. The institutional investor owned 1,112,648 shares of the transportation company’s stock after buying an additional 91,759 shares during the quarter. JPMorgan Chase & Co.’s holdings in Expeditors International of Washington were worth $136,403,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in Expeditors International of Washington by 3.4% during the third quarter. PNC Financial Services Group Inc. now owns 59,698 shares of the transportation company’s stock valued at $7,318,000 after acquiring an additional 1,964 shares in the last quarter. ABN Amro Investment Solutions boosted its holdings in Expeditors International of Washington by 38.0% in the 3rd quarter. ABN Amro Investment Solutions now owns 2,856 shares of the transportation company’s stock valued at $350,000 after purchasing an additional 787 shares during the period. Aberdeen Group plc grew its position in shares of Expeditors International of Washington by 1.0% during the 3rd quarter. Aberdeen Group plc now owns 154,067 shares of the transportation company’s stock valued at $18,913,000 after purchasing an additional 1,538 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Expeditors International of Washington by 12.7% in the third quarter. Public Sector Pension Investment Board now owns 11,582 shares of the transportation company’s stock worth $1,420,000 after purchasing an additional 1,303 shares during the period. Finally, Atria Investments Inc raised its position in shares of Expeditors International of Washington by 0.3% in the third quarter. Atria Investments Inc now owns 33,622 shares of the transportation company’s stock worth $4,122,000 after buying an additional 100 shares in the last quarter. 94.02% of the stock is owned by hedge funds and other institutional investors.

Expeditors International of Washington Price Performance

Shares of EXPD opened at $156.42 on Friday. Expeditors International of Washington, Inc. has a 1 year low of $100.47 and a 1 year high of $167.19. The stock has a 50 day simple moving average of $156.18 and a two-hundred day simple moving average of $137.72. The firm has a market cap of $20.96 billion, a P/E ratio of 27.35, a P/E/G ratio of 5.00 and a beta of 1.13.

Analyst Ratings Changes

Several research firms recently commented on EXPD. UBS Group upgraded Expeditors International of Washington from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $138.00 to $166.00 in a research report on Monday, November 17th. Bank of America raised Expeditors International of Washington from a “neutral” rating to a “buy” rating in a report on Friday, January 9th. JPMorgan Chase & Co. lowered their target price on shares of Expeditors International of Washington from $134.00 to $132.00 and set an “underweight” rating on the stock in a research note on Monday, January 12th. Truist Financial boosted their price target on shares of Expeditors International of Washington from $130.00 to $160.00 and gave the stock a “hold” rating in a research note on Thursday, January 15th. Finally, Stifel Nicolaus increased their price target on shares of Expeditors International of Washington from $130.00 to $136.00 and gave the stock a “hold” rating in a report on Tuesday, December 16th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $134.10.

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.