Bank of Montreal Can Boosts Holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD)

Bank of Montreal Can grew its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 11.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,875 shares of the transportation company’s stock after purchasing an additional 16,210 shares during the period. Bank of Montreal Can owned approximately 0.11% of Expeditors International of Washington worth $16,823,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of EXPD. Franklin Resources Inc. boosted its position in Expeditors International of Washington by 18.9% during the 3rd quarter. Franklin Resources Inc. now owns 193,486 shares of the transportation company’s stock valued at $23,623,000 after acquiring an additional 30,785 shares in the last quarter. Pensionfund Sabic bought a new stake in shares of Expeditors International of Washington during the fourth quarter valued at approximately $1,329,000. Drystone LLC purchased a new stake in Expeditors International of Washington in the fourth quarter worth $5,925,000. Allworth Financial LP grew its stake in Expeditors International of Washington by 22.9% in the fourth quarter. Allworth Financial LP now owns 6,518 shares of the transportation company’s stock worth $732,000 after purchasing an additional 1,216 shares during the period. Finally, Asset Management One Co. Ltd. raised its holdings in Expeditors International of Washington by 37.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 75,917 shares of the transportation company’s stock worth $8,459,000 after purchasing an additional 20,658 shares in the last quarter. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Bank of America reduced their target price on shares of Expeditors International of Washington from $129.00 to $120.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. JPMorgan Chase & Co. cut their price objective on shares of 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. Benchmark reiterated a “hold” rating on shares of Expeditors International of Washington in a report on Wednesday, February 19th. Truist Financial initiated coverage on Expeditors International of Washington in a research note on Thursday, March 13th. They issued a “hold” rating and a $110.00 price target on the stock. Finally, Stifel Nicolaus lowered their price objective 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 equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $115.90.

Expeditors International of Washington Stock Performance

EXPD opened at $110.13 on Friday. The company’s 50-day simple moving average is $115.31 and its two-hundred day simple moving average is $116.82. The stock has a market capitalization of $15.17 billion, a P/E ratio of 19.25, a P/E/G ratio of 5.00 and a beta of 1.03. Expeditors International of Washington, Inc. has a 52-week low of $100.47 and a 52-week high of $131.59.

Insider Activity

In related news, VP Jeffrey F. Dickerman sold 1,250 shares of Expeditors International of Washington stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $117.54, for a total value 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 $857,571.84. The trade was a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.69% of the stock is owned by corporate 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.