CAPROCK Group Inc. reduced its position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW – Get Rating) by 29.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,261 shares of the transportation company's stock after selling 6,037 shares during the quarter. CAPROCK Group Inc.'s holdings in C.H. Robinson Worldwide were worth $1,456,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in CHRW. Louisiana State Employees Retirement System increased its stake in shares of C.H. Robinson Worldwide by 1.2% in the 1st quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the transportation company's stock worth $846,000 after acquiring an additional 100 shares during the last quarter. Resources Investment Advisors LLC. increased its stake in shares of C.H. Robinson Worldwide by 1.0% in the 1st quarter. Resources Investment Advisors LLC. now owns 10,529 shares of the transportation company's stock worth $1,134,000 after acquiring an additional 109 shares during the last quarter. Intercontinental Wealth Advisors LLC increased its stake in shares of C.H. Robinson Worldwide by 0.8% in the 1st quarter. Intercontinental Wealth Advisors LLC now owns 13,502 shares of the transportation company's stock worth $1,454,000 after acquiring an additional 110 shares during the last quarter. First Republic Investment Management Inc. increased its stake in shares of C.H. Robinson Worldwide by 0.8% in the 1st quarter. First Republic Investment Management Inc. now owns 15,472 shares of the transportation company's stock worth $1,666,000 after acquiring an additional 116 shares during the last quarter. Finally, Ellevest Inc. increased its stake in shares of C.H. Robinson Worldwide by 67.6% in the 1st quarter. Ellevest Inc. now owns 290 shares of the transportation company's stock worth $31,000 after acquiring an additional 117 shares during the last quarter. 92.16% of the stock is owned by institutional investors and hedge funds.
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Insiders Place Their Bets
In other C.H. Robinson Worldwide news, insider Michael D. Castagnetto sold 3,046 shares of C.H. Robinson Worldwide stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $120.00, for a total transaction of $365,520.00. Following the transaction, the insider now owns 20,060 shares of the company's stock, valued at $2,407,200. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Henry J. Maier bought 922 shares of the stock in a transaction on Thursday, August 4th. The shares were bought at an average cost of $108.45 per share, for a total transaction of $99,990.90. Following the purchase, the director now owns 922 shares of the company's stock, valued at approximately $99,990.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael D. Castagnetto sold 3,046 shares of C.H. Robinson Worldwide stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $120.00, for a total value of $365,520.00. Following the completion of the transaction, the insider now owns 20,060 shares in the company, valued at $2,407,200. The disclosure for this sale can be found here. Insiders have sold a total of 33,215 shares of company stock valued at $3,887,292 over the last quarter. Company insiders own 1.64% of the company's stock.
Analysts Set New Price Targets
A number of analysts have issued reports on the company. Credit Suisse Group initiated coverage on C.H. Robinson Worldwide in a research note on Monday, June 27th. They issued an "underperform" rating and a $102.00 target price for the company. Wolfe Research cut C.H. Robinson Worldwide from an "outperform" rating to a "peer perform" rating in a report on Tuesday, July 12th. Wells Fargo & Company increased their price target on C.H. Robinson Worldwide from $93.00 to $94.00 and gave the stock an "underweight" rating in a report on Thursday, July 28th. Vertical Research cut C.H. Robinson Worldwide from a "hold" rating to a "sell" rating and set a $104.00 price target for the company. in a report on Wednesday, August 17th. Finally, Evercore ISI lowered their price target on C.H. Robinson Worldwide from $115.00 to $112.00 and set an "in-line" rating for the company in a report on Tuesday, July 12th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $110.86.
C.H. Robinson Worldwide Stock Down 2.2 %
Shares of NASDAQ CHRW traded down $2.17 during midday trading on Thursday, hitting $97.47. 60,061 shares of the company's stock were exchanged, compared to its average volume of 1,403,334. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.48 and a quick ratio of 1.48. C.H. Robinson Worldwide, Inc. has a twelve month low of $86.50 and a twelve month high of $121.23. The company has a market cap of $12.07 billion, a PE ratio of 11.92, a P/E/G ratio of 1.27 and a beta of 0.78. The firm's fifty day simple moving average is $109.94 and its 200-day simple moving average is $105.91.
C.H. Robinson Worldwide (NASDAQ:CHRW – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The transportation company reported $2.67 EPS for the quarter, topping the consensus estimate of $1.93 by $0.74. The company had revenue of $5.80 billion for the quarter, compared to analyst estimates of $6.78 billion. C.H. Robinson Worldwide had a return on equity of 53.97% and a net margin of 4.15%. The firm's revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.44 earnings per share. Research analysts predict that C.H. Robinson Worldwide, Inc. will post 8.79 EPS for the current fiscal year.
C.H. Robinson Worldwide Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Thursday, September 1st. C.H. Robinson Worldwide's dividend payout ratio (DPR) is 26.47%.
About C.H. Robinson Worldwide
(Get Rating)
C.H. Robinson Worldwide, Inc, together with its subsidiaries, provides freight transportation services and logistics solutions to companies in various industries worldwide. The company operates in two segments, North American Surface Transportation and Global Forwarding. It offers transportation and logistics services, such as truckload; less than truckload transportation brokerage services, which include the shipment of single or multiple pallets of freight; intermodal transportation that comprise the shipment service of freight in containers or trailers by a combination of truck and rail; and non-vessel ocean common carrier and freight forwarding services, as well as organizes air shipments and provides door-to-door services.
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