Westpac Banking Corp Acquires 4,672 Shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Westpac Banking Corp lifted its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 15.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,767 shares of the transportation company’s stock after acquiring an additional 4,672 shares during the period. Westpac Banking Corp’s holdings in Expeditors International of Washington were worth $3,962,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. CreativeOne Wealth LLC purchased a new position in Expeditors International of Washington during the 3rd quarter valued at about $239,000. Public Sector Pension Investment Board boosted its position in shares of Expeditors International of Washington by 19.6% in the third quarter. Public Sector Pension Investment Board now owns 6,102 shares of the transportation company’s stock valued at $802,000 after acquiring an additional 1,000 shares during the period. Captrust Financial Advisors grew its stake in Expeditors International of Washington by 11.8% during the third quarter. Captrust Financial Advisors now owns 3,733 shares of the transportation company’s stock valued at $490,000 after acquiring an additional 395 shares in the last quarter. Verition Fund Management LLC increased its holdings in Expeditors International of Washington by 6.0% during the 3rd quarter. Verition Fund Management LLC now owns 14,628 shares of the transportation company’s stock worth $1,922,000 after acquiring an additional 822 shares during the period. Finally, Edgestream Partners L.P. purchased a new stake in Expeditors International of Washington in the 3rd quarter worth approximately $930,000. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EXPD. Stifel Nicolaus decreased their price target on shares of Expeditors International of Washington from $122.00 to $117.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. JPMorgan Chase & Co. lowered their price target on Expeditors International of Washington from $114.00 to $108.00 and set an “underweight” rating on the stock in a report on Wednesday, February 19th. Bank of America cut their price objective on Expeditors International of Washington from $129.00 to $120.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Benchmark reaffirmed a “hold” rating on shares of Expeditors International of Washington in a research note on Wednesday, February 19th. Finally, StockNews.com cut shares of Expeditors International of Washington from a “buy” rating to a “hold” rating in a research note on Sunday, February 16th. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $115.90.

Expeditors International of Washington Stock Down 0.3 %

NASDAQ EXPD opened at $121.84 on Thursday. The firm has a market cap of $16.78 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 5.00 and a beta of 1.00. The company has a 50-day simple moving average of $116.37 and a two-hundred day simple moving average of $117.84. Expeditors International of Washington, Inc. has a 12-month low of $108.36 and a 12-month high of $131.59.

Insider Activity at Expeditors International of Washington

In other news, VP Jeffrey F. Dickerman sold 1,250 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $117.54, for a total transaction of $146,925.00. Following the completion of the sale, the vice president now owns 7,296 shares of the company’s stock, valued at approximately $857,571.84. This 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. 0.69% of the stock is currently owned by company insiders.

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.