Shell Asset Management Co. Decreases Stake in C.H. Robinson Worldwide, Inc. $CHRW

Shell Asset Management Co. lessened its stake in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 51.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,621 shares of the transportation company’s stock after selling 3,898 shares during the quarter. Shell Asset Management Co.’s holdings in C.H. Robinson Worldwide were worth $479,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Transcend Capital Advisors LLC bought a new position in shares of C.H. Robinson Worldwide during the third quarter valued at about $460,000. TD Waterhouse Canada Inc. boosted its stake in shares of C.H. Robinson Worldwide by 8,726.0% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 17,652 shares of the transportation company’s stock valued at $2,341,000 after purchasing an additional 17,452 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of C.H. Robinson Worldwide by 91.8% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,774 shares of the transportation company’s stock worth $1,559,000 after acquiring an additional 5,634 shares during the period. Norges Bank purchased a new stake in C.H. Robinson Worldwide in the second quarter worth $118,976,000. Finally, Oak Thistle LLC bought a new position in shares of C.H. Robinson Worldwide in the 3rd quarter worth about $999,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CHRW has been the topic of several recent analyst reports. Barclays raised shares of C.H. Robinson Worldwide from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $145.00 to $200.00 in a research report on Tuesday, December 16th. Benchmark lifted their price objective on C.H. Robinson Worldwide from $160.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Robert W. Baird set a $203.00 target price on shares of C.H. Robinson Worldwide in a report on Thursday, January 29th. Citigroup raised their price objective on C.H. Robinson Worldwide from $177.00 to $202.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Finally, TD Cowen lifted their target price on shares of C.H. Robinson Worldwide from $165.00 to $194.00 and gave the company a “hold” rating in a research note on Thursday, January 29th. Sixteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.29.

C.H. Robinson Worldwide Stock Performance

Shares of NASDAQ:CHRW opened at $177.38 on Wednesday. The company has a market capitalization of $20.96 billion, a price-to-earnings ratio of 36.72, a PEG ratio of 1.85 and a beta of 0.90. The firm’s 50-day moving average is $174.56 and its 200 day moving average is $149.59. C.H. Robinson Worldwide, Inc. has a 12 month low of $84.68 and a 12 month high of $203.34. The company has a current ratio of 1.53, a quick ratio of 1.59 and a debt-to-equity ratio of 0.59.

C.H. Robinson Worldwide (NASDAQ:CHRW) last issued its earnings results on Wednesday, January 28th. The transportation company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.11. The business had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.97 billion. C.H. Robinson Worldwide had a net margin of 3.62% and a return on equity of 34.24%. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 EPS. Research analysts predict that C.H. Robinson Worldwide, Inc. will post 4.83 EPS for the current year.

C.H. Robinson Worldwide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Friday, March 6th will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, March 6th. This represents a $2.52 dividend on an annualized basis and a yield of 1.4%. C.H. Robinson Worldwide’s dividend payout ratio is currently 52.17%.

Insider Buying and Selling at C.H. Robinson Worldwide

In related news, CEO David P. Bozeman bought 1,223 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were bought at an average price of $163.34 per share, for a total transaction of $199,764.82. Following the completion of the purchase, the chief executive officer directly owned 190,600 shares of the company’s stock, valued at approximately $31,132,604. This trade represents a 0.65% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael D. Castagnetto acquired 594 shares of the business’s stock in a transaction dated Thursday, February 12th. The stock was purchased at an average cost of $168.24 per share, for a total transaction of $99,934.56. Following the transaction, the insider owned 35,488 shares in the company, valued at approximately $5,970,501.12. The trade was a 1.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 2,422 shares of company stock worth $400,801 and have sold 21,416 shares worth $4,157,630. Insiders own 0.91% of the company’s stock.

C.H. Robinson Worldwide Profile

C.H. Robinson Worldwide, Inc is a third-party logistics provider founded in 1905 and headquartered in Eden Prairie, Minnesota. Originally established as a produce brokerage firm, the company has since expanded its offerings to become one of the world’s largest freight and logistics intermediaries. C.H. Robinson leverages a global network of transportation providers, technology platforms, and in-house expertise to connect shippers and carriers across multiple modes of transportation.

The company’s primary services include truckload, less-than-truckload (LTL), intermodal, air and ocean freight, and managed transportation solutions.