Envestnet Asset Management Inc. Acquires 62,500 Shares of Expeditors International of Washington, Inc. $EXPD

Envestnet Asset Management Inc. lifted its holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 6.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 993,697 shares of the transportation company’s stock after acquiring an additional 62,500 shares during the period. Envestnet Asset Management Inc.’s holdings in Expeditors International of Washington were worth $121,817,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EXPD. Vermillion & White Wealth Management Group LLC increased its position in shares of Expeditors International of Washington by 82.3% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 268 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 121 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in Expeditors International of Washington in the second quarter worth $34,000. CYBER HORNET ETFs LLC purchased a new position in Expeditors International of Washington during the second quarter worth $43,000. Bartlett & CO. Wealth Management LLC bought a new position in Expeditors International of Washington during the third quarter valued at $43,000. Finally, Addison Advisors LLC raised its stake in shares of Expeditors International of Washington by 79.1% in the second quarter. Addison Advisors LLC now owns 385 shares of the transportation company’s stock valued at $44,000 after acquiring an additional 170 shares during the period. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on EXPD. JPMorgan Chase & Co. lowered their target price on shares of Expeditors International of Washington from $134.00 to $132.00 and set an “underweight” rating for the company in a report on Monday, January 12th. Morgan Stanley increased their price objective on shares of Expeditors International of Washington from $90.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday, December 8th. Truist Financial boosted their target price on 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. Barclays upped their target price on Expeditors International of Washington from $110.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, January 15th. Finally, Bank of America upgraded Expeditors International of Washington from a “neutral” rating to a “buy” rating in a report on Friday, January 9th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $134.10.

Expeditors International of Washington Price Performance

Shares of EXPD stock opened at $165.17 on Friday. The company has a market capitalization of $22.14 billion, a P/E ratio of 28.88, a P/E/G ratio of 5.00 and a beta of 1.13. The company’s 50-day simple moving average is $155.60 and its two-hundred day simple moving average is $134.99. Expeditors International of Washington, Inc. has a one year low of $100.47 and a one year high of $167.19.

Expeditors International of Washington Profile

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.