Expeditors International of Washington, Inc. (NASDAQ:EXPD) Stake Boosted by Korea Investment CORP

Korea Investment CORP boosted its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 30.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 92,153 shares of the transportation company’s stock after buying an additional 21,600 shares during the period. Korea Investment CORP owned about 0.07% of Expeditors International of Washington worth $10,208,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. boosted its position in shares of Expeditors International of Washington by 18.9% in the third quarter. Franklin Resources Inc. now owns 193,486 shares of the transportation company’s stock worth $23,623,000 after buying an additional 30,785 shares during the period. Point72 Asset Management L.P. purchased a new stake in Expeditors International of Washington in the 3rd quarter worth about $4,363,000. Pensionfund Sabic acquired a new stake in Expeditors International of Washington during the 4th quarter worth about $1,329,000. Drystone LLC purchased a new position in Expeditors International of Washington during the 4th quarter valued at about $5,925,000. Finally, Allworth Financial LP increased its holdings in shares of Expeditors International of Washington by 22.9% in the 4th quarter. Allworth Financial LP now owns 6,518 shares of the transportation company’s stock valued at $732,000 after purchasing an additional 1,216 shares during the period. 94.02% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Jeffrey F. Dickerman sold 1,250 shares of Expeditors International of Washington stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $117.54, for a total value of $146,925.00. Following the transaction, the vice president now owns 7,296 shares of the company’s stock, valued at $857,571.84. This trade represents a 14.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.69% of the company’s stock.

Expeditors International of Washington Stock Performance

EXPD opened at $120.33 on Tuesday. The stock has a 50-day moving average of $115.99 and a 200-day moving average of $117.80. Expeditors International of Washington, Inc. has a 52-week low of $108.36 and a 52-week high of $131.59. The company has a market cap of $16.58 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 5.00 and a beta of 1.00.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on EXPD shares. StockNews.com downgraded shares of Expeditors International of Washington from a “buy” rating to a “hold” rating in a research report on Sunday, February 16th. Truist Financial initiated coverage on shares of Expeditors International of Washington in a report on Thursday, March 13th. They set a “hold” rating and a $110.00 price target on the stock. UBS Group cut their price objective on Expeditors International of Washington from $130.00 to $128.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Bank of America lowered their target price on Expeditors International of Washington from $129.00 to $120.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Stifel Nicolaus cut their price target on Expeditors International of Washington from $122.00 to $117.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Four analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $115.90.

Expeditors International of Washington 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.