Palisade Asset Management LLC lowered its position in shares of C.H. Robinson Worldwide Inc (NASDAQ:CHRW) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,853 shares of the transportation company’s stock after selling 731 shares during the period. Palisade Asset Management LLC’s holdings in C.H. Robinson Worldwide were worth $4,003,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Two Sigma Advisers LP bought a new position in C.H. Robinson Worldwide in the 4th quarter worth $630,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of C.H. Robinson Worldwide by 188.7% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,733 shares of the transportation company’s stock worth $1,134,000 after acquiring an additional 8,323 shares in the last quarter. LPL Financial LLC increased its stake in shares of C.H. Robinson Worldwide by 5.2% in the 4th quarter. LPL Financial LLC now owns 10,998 shares of the transportation company’s stock worth $980,000 after acquiring an additional 547 shares in the last quarter. Macquarie Group Ltd. grew its position in C.H. Robinson Worldwide by 335.4% during the 4th quarter. Macquarie Group Ltd. now owns 17,853 shares of the transportation company’s stock valued at $1,590,000 after purchasing an additional 13,753 shares during the last quarter. Finally, D.B. Root & Company LLC purchased a new stake in C.H. Robinson Worldwide during the 1st quarter valued at about $219,000. 90.70% of the stock is owned by institutional investors and hedge funds.
CHRW has been the topic of several recent analyst reports. UBS Group raised shares of C.H. Robinson Worldwide from a “neutral” rating to a “buy” rating and set a $110.00 price objective on the stock in a research report on Monday, April 16th. BidaskClub downgraded shares of C.H. Robinson Worldwide from a “buy” rating to a “hold” rating in a report on Friday, April 20th. JPMorgan Chase & Co. upgraded shares of C.H. Robinson Worldwide from an “underweight” rating to a “neutral” rating and set a $71.00 price objective on the stock in a research note on Wednesday, July 11th. Credit Suisse Group lowered their price objective on shares of C.H. Robinson Worldwide from $90.00 to $80.00 and set an “underperform” rating on the stock in a research note on Thursday, May 3rd. Finally, Stephens cut shares of C.H. Robinson Worldwide from an “overweight” rating to an “equal weight” rating and set a $89.00 price objective on the stock. in a research note on Friday, May 4th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $93.50.
C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly earnings data on Tuesday, July 31st. The transportation company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.06 by $0.07. The company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.18 billion. C.H. Robinson Worldwide had a net margin of 3.59% and a return on equity of 38.81%. C.H. Robinson Worldwide’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.78 earnings per share. equities analysts predict that C.H. Robinson Worldwide Inc will post 4.45 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 7th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Thursday, September 6th. C.H. Robinson Worldwide’s dividend payout ratio is currently 52.87%.
C.H. Robinson Worldwide declared that its Board of Directors has approved a share buyback program on Thursday, May 10th that permits the company to repurchase 15,000,000 shares. This repurchase authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In related news, insider Michael John Short sold 4,527 shares of C.H. Robinson Worldwide stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $96.12, for a total value of $435,135.24. Following the completion of the sale, the insider now directly owns 14,717 shares in the company, valued at $1,414,598.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael W. Neill sold 452 shares of C.H. Robinson Worldwide stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $96.10, for a total value of $43,437.20. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by insiders.
C.H. Robinson Worldwide Profile
C.H. Robinson Worldwide, Inc, a third party logistics company, provides freight transportation services and logistics solutions to companies in various industries worldwide. The company operates through three segments: North American Surface Transportation, Global Forwarding, and Robinson Fresh. It offers transportation and logistics services, such as truckload; less than truckload transportation which include the shipment of single or multiple pallets of freight; intermodal transportation, which is shipment service of freight in trailers or containers by a combination of truck and rail; and non-vessel ocean common carrier or freight forwarding services, as well as organizes air shipments and provides door-to-door services.
See Also: Short Selling Stocks and Day Traders
Receive News & Ratings for C.H. Robinson Worldwide Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for C.H. Robinson Worldwide and related companies with MarketBeat.com's FREE daily email newsletter.