Sovran Advisors LLC Sells 594 Shares of Expeditors International of Washington, Inc. $EXPD

Sovran Advisors LLC lessened its holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 7.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,162 shares of the transportation company’s stock after selling 594 shares during the period. Sovran Advisors LLC’s holdings in Expeditors International of Washington were worth $840,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Alpine Bank Wealth Management bought a new position in Expeditors International of Washington during the first quarter valued at $26,000. Zions Bancorporation National Association UT bought a new position in Expeditors International of Washington during the first quarter valued at $30,000. Garde Capital Inc. bought a new position in shares of Expeditors International of Washington in the first quarter worth about $37,000. Ransom Advisory Ltd bought a new position in shares of Expeditors International of Washington in the first quarter worth about $41,000. Finally, Twin Tree Management LP bought a new position in shares of Expeditors International of Washington in the first quarter worth about $42,000. Institutional investors own 94.02% of the company’s stock.

Insider Activity

In other news, VP Jeffrey F. Dickerman sold 1,470 shares of the company’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $118.05, for a total transaction of $173,533.50. Following the transaction, the vice president owned 7,651 shares in the company, valued at $903,200.55. This represents a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.69% of the stock is currently owned by company insiders.

Expeditors International of Washington Stock Performance

EXPD stock opened at $124.06 on Friday. The firm has a market cap of $16.84 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 5.00 and a beta of 1.06. The firm has a 50-day simple moving average of $118.72 and a two-hundred day simple moving average of $115.43. Expeditors International of Washington, Inc. has a one year low of $100.47 and a one year high of $131.59.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EXPD. Robert W. Baird began coverage on shares of Expeditors International of Washington in a report on Tuesday, July 1st. They issued a “neutral” rating and a $124.00 price target on the stock. Barclays upped their price objective on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the stock an “underweight” rating in a research note on Thursday, September 11th. Bank of America lowered shares of Expeditors International of Washington from a “neutral” rating to an “underperform” rating and upped their price objective for the stock from $117.00 to $118.00 in a research note on Friday, July 11th. Baird R W raised shares of Expeditors International of Washington to a “hold” rating in a research note on Tuesday, July 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Expeditors International of Washington from $105.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 8th. Seven equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $114.78.

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.