Insider Selling: Chad Lindbloom Sells 1,000 Shares of C.H. Robinson Worldwide Stock (CHRW)
C.H. Robinson Worldwide (NASDAQ:CHRW) CFO Chad Lindbloom unloaded 1,000 shares of C.H. Robinson Worldwide stock on the open market in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $68.34, for a total transaction of $68,340.00. Following the completion of the transaction, the chief financial officer now directly owns 130,204 shares in the company, valued at approximately $8,898,141. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Stifel Nicolaus downgraded shares of C.H. Robinson Worldwide from a “hold” rating to a “sell” rating in a research note on Wednesday. They now have a $55.00 price target on the stock, down previously from $57.00. They noted that the move was a valuation call. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of C.H. Robinson Worldwide in a research note on Thursday, July 31st. They now have a $65.00 price target on the stock, up previously from $59.00. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of C.H. Robinson Worldwide in a research note on Thursday, July 31st. They now have a $63.00 price target on the stock, up previously from $62.00. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.69.
Shares of C.H. Robinson Worldwide (NASDAQ:CHRW) traded down 2.15% on Wednesday, hitting $66.90. The stock had a trading volume of 2,892,236 shares. C.H. Robinson Worldwide has a 1-year low of $50.21 and a 1-year high of $69.50. The stock’s 50-day moving average is $67.08 and its 200-day moving average is $59.75. The company has a market cap of $9.845 billion and a price-to-earnings ratio of 25.02. C.H. Robinson Worldwide also saw a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 15,317,297 shares, an increase of 11.3% from the July 31st total of 13,763,073 shares. Currently, 10.5% of the shares of the company are short sold. Based on an average daily trading volume, of 2,224,997 shares, the days-to-cover ratio is currently 6.9 days.
C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts expect that C.H. Robinson Worldwide will post $2.97 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Wednesday, September 3rd.
C.H. Robinson Worldwide, Inc (NASDAQ:CHRW) is a third party logistics company.
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