Retirement Systems of Alabama Sells 692 Shares of Expeditors International of Washington, Inc. $EXPD

Retirement Systems of Alabama trimmed its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 2.3% in the second quarter, HoldingsChannel reports. The firm owned 29,388 shares of the transportation company’s stock after selling 692 shares during the quarter. Retirement Systems of Alabama’s holdings in Expeditors International of Washington were worth $3,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new position in Expeditors International of Washington during the first quarter worth $30,000. Ransom Advisory Ltd bought a new stake in shares of Expeditors International of Washington in the first quarter valued at about $41,000. Twin Tree Management LP bought a new stake in shares of Expeditors International of Washington in the first quarter valued at about $42,000. Carderock Capital Management Inc. bought a new stake in shares of Expeditors International of Washington in the second quarter valued at about $46,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Expeditors International of Washington by 827.3% in the second quarter. Caitong International Asset Management Co. Ltd now owns 408 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 364 shares during the period. 94.02% of the stock is owned by institutional investors.

Expeditors International of Washington Stock Up 11.0%

EXPD opened at $135.97 on Wednesday. Expeditors International of Washington, Inc. has a twelve month low of $100.47 and a twelve month high of $136.18. The company has a 50-day simple moving average of $121.05 and a 200 day simple moving average of $116.82. The stock has a market capitalization of $18.45 billion, a price-to-earnings ratio of 23.77, a P/E/G ratio of 5.00 and a beta of 1.09.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EXPD. Stifel Nicolaus reduced their target price on shares of Expeditors International of Washington from $118.00 to $114.00 and set a “hold” rating for the company in a research report on Friday, October 10th. Bank of America cut shares of Expeditors International of Washington from a “neutral” rating to an “underperform” rating and boosted their target price for the company from $117.00 to $118.00 in a research report on Friday, July 11th. UBS Group boosted their target price on shares of 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. JPMorgan Chase & Co. boosted their target price on shares of Expeditors International of Washington from $105.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 8th. Finally, Barclays boosted their target price on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the company an “underweight” rating in a research report on Thursday, September 11th. Seven research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $114.44.

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 transaction of $173,533.50. Following the completion of the sale, the vice president 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 document filed with the SEC, which is available through the SEC website. 0.69% of the stock is owned by corporate insiders.

Expeditors International of Washington Company Profile

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.