State of Michigan Retirement System Sells 700 Shares of Expeditors International of Washington, Inc. $EXPD

State of Michigan Retirement System reduced its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 1.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 39,408 shares of the transportation company’s stock after selling 700 shares during the quarter. State of Michigan Retirement System’s holdings in Expeditors International of Washington were worth $4,502,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Boston Partners boosted its position in shares of Expeditors International of Washington by 13.1% during the 1st quarter. Boston Partners now owns 4,295,924 shares of the transportation company’s stock valued at $516,385,000 after acquiring an additional 498,212 shares during the last quarter. Invesco Ltd. grew its position in Expeditors International of Washington by 23.4% in the first quarter. Invesco Ltd. now owns 3,039,899 shares of the transportation company’s stock worth $365,548,000 after acquiring an additional 576,468 shares in the last quarter. Baird Financial Group Inc. grew its position in Expeditors International of Washington by 4.8% in the first quarter. Baird Financial Group Inc. now owns 1,845,102 shares of the transportation company’s stock worth $221,874,000 after acquiring an additional 84,556 shares in the last quarter. Marshfield Associates grew its position in Expeditors International of Washington by 0.8% in the first quarter. Marshfield Associates now owns 1,841,746 shares of the transportation company’s stock worth $221,470,000 after acquiring an additional 14,127 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Expeditors International of Washington by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,359,561 shares of the transportation company’s stock worth $163,476,000 after acquiring an additional 36,312 shares in the last quarter. 94.02% of the stock is currently owned by institutional investors.

Expeditors International of Washington Stock Up 11.0%

EXPD stock opened at $135.97 on Wednesday. The business’s fifty day simple moving average is $121.05 and its two-hundred day simple moving average is $116.82. Expeditors International of Washington, Inc. has a twelve month low of $100.47 and a twelve month high of $136.18. The firm has a market cap of $18.45 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 5.00 and a beta of 1.09.

Insiders Place Their Bets

In other news, VP Jeffrey F. Dickerman sold 1,470 shares of Expeditors International of Washington stock in a transaction that occurred on 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 approximately $903,200.55. The trade was a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.69% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Bank of America lowered Expeditors International of Washington from a “neutral” rating to an “underperform” rating and lifted their price target for the stock from $117.00 to $118.00 in a research report on Friday, July 11th. Stifel Nicolaus lowered their price target on 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. Barclays raised their price target on Expeditors International of Washington from $105.00 to $110.00 and gave the stock an “underweight” rating in a research report on Thursday, September 11th. UBS Group raised their price target on Expeditors International of Washington from $117.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. raised their price target on Expeditors International of Washington from $105.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 8th. Seven analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $114.44.

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.