Cape ANN Savings Bank Reduces Stock Position in Expeditors International of Washington, Inc. $EXPD

Cape ANN Savings Bank lowered its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 14.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,425 shares of the transportation company’s stock after selling 396 shares during the period. Cape ANN Savings Bank’s holdings in Expeditors International of Washington were worth $277,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new position in shares of Expeditors International of Washington in the 1st quarter worth approximately $26,000. Zions Bancorporation National Association UT purchased a new position in Expeditors International of Washington during the first quarter worth $30,000. Garde Capital Inc. purchased a new position in Expeditors International of Washington during the first quarter worth $37,000. Ransom Advisory Ltd purchased a new position in Expeditors International of Washington during the first quarter worth $41,000. Finally, Twin Tree Management LP purchased a new position in Expeditors International of Washington during the first quarter worth $42,000. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Insiders Place Their Bets

In related news, VP Jeffrey F. Dickerman sold 1,470 shares of the company’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $118.05, for a total value of $173,533.50. Following the completion of the sale, the vice president directly owned 7,651 shares of the company’s stock, valued at $903,200.55. This represents a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on EXPD shares. Truist Financial lifted their price target on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Monday, June 30th. UBS Group boosted their target price on Expeditors International of Washington from $117.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Barclays boosted their price objective on Expeditors International of Washington from $105.00 to $110.00 and gave the company an “underweight” rating in a report on Thursday, September 11th. Bank of America cut Expeditors International of Washington from a “neutral” rating to an “underperform” rating and boosted their price objective for the company from $117.00 to $118.00 in a report on Friday, July 11th. Finally, JPMorgan Chase & Co. boosted their price objective on Expeditors International of Washington from $105.00 to $107.00 and gave the company an “underweight” rating in a report on Tuesday, July 8th. Seven equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $114.78.

Expeditors International of Washington Stock Performance

Shares of NASDAQ EXPD opened at $123.55 on Friday. Expeditors International of Washington, Inc. has a 52-week low of $100.47 and a 52-week high of $129.15. The firm has a market capitalization of $16.77 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 5.00 and a beta of 1.06. The stock has a 50 day moving average price of $120.31 and a 200 day moving average price of $115.65.

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.