HighTower Advisors LLC Decreases Holdings in Expeditors International of Washington, Inc. $EXPD

HighTower Advisors LLC cut its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 43.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,730 shares of the transportation company’s stock after selling 41,381 shares during the quarter. HighTower Advisors LLC’s holdings in Expeditors International of Washington were worth $6,709,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of EXPD. Norges Bank acquired a new stake in shares of Expeditors International of Washington in the second quarter valued at about $111,222,000. First Eagle Investment Management LLC boosted its holdings in Expeditors International of Washington by 17.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 6,279,825 shares of the transportation company’s stock worth $717,470,000 after acquiring an additional 918,108 shares during the period. First Trust Advisors LP grew its position in Expeditors International of Washington by 19.3% in the second quarter. First Trust Advisors LP now owns 2,077,347 shares of the transportation company’s stock valued at $237,337,000 after acquiring an additional 335,578 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Expeditors International of Washington by 158.4% during the second quarter. Acadian Asset Management LLC now owns 201,015 shares of the transportation company’s stock valued at $22,963,000 after purchasing an additional 123,223 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Expeditors International of Washington by 48.0% during the second quarter. American Century Companies Inc. now owns 364,050 shares of the transportation company’s stock worth $41,593,000 after purchasing an additional 118,114 shares in the last quarter. Institutional investors and hedge funds own 94.02% of the company’s stock.

Expeditors International of Washington Stock Down 4.4%

NASDAQ:EXPD opened at $149.36 on Tuesday. The company has a market cap of $20.02 billion, a PE ratio of 26.11, a P/E/G ratio of 5.00 and a beta of 1.13. The business’s 50 day moving average is $156.14 and its two-hundred day moving average is $138.08. Expeditors International of Washington, Inc. has a 52 week low of $100.47 and a 52 week high of $167.19.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on EXPD shares. Bank of America raised shares of Expeditors International of Washington from a “neutral” rating to a “buy” rating in a report on Friday, January 9th. Truist Financial upped their price objective on shares of Expeditors International of Washington from $130.00 to $160.00 and gave the company a “hold” rating in a research report on Thursday, January 15th. TD Cowen raised their target price on Expeditors International of Washington from $111.00 to $131.00 and gave the company a “sell” rating in a research note on Wednesday, November 5th. UBS Group upgraded Expeditors International of Washington from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $138.00 to $166.00 in a research note on Monday, November 17th. Finally, Zacks Research downgraded Expeditors International of Washington from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 14th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average 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.