C.H. Robinson Worldwide, Inc. $CHRW Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC decreased its position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 2.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,080,504 shares of the transportation company’s stock after selling 24,049 shares during the period. C.H. Robinson Worldwide comprises approximately 0.5% of Cresset Asset Management LLC’s portfolio, making the stock its 27th biggest holding. Cresset Asset Management LLC owned 0.91% of C.H. Robinson Worldwide worth $143,744,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CHRW. Vanguard Group Inc. increased its holdings in C.H. Robinson Worldwide by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 14,642,930 shares of the transportation company’s stock valued at $1,404,989,000 after acquiring an additional 56,549 shares in the last quarter. State Street Corp grew its position in shares of C.H. Robinson Worldwide by 5.7% in the second quarter. State Street Corp now owns 7,420,768 shares of the transportation company’s stock valued at $716,423,000 after purchasing an additional 397,177 shares during the last quarter. Boston Partners raised its position in shares of C.H. Robinson Worldwide by 53.0% during the 2nd quarter. Boston Partners now owns 3,518,118 shares of the transportation company’s stock worth $340,646,000 after purchasing an additional 1,218,968 shares during the last quarter. Invesco Ltd. raised its position in shares of C.H. Robinson Worldwide by 5.1% during the 2nd quarter. Invesco Ltd. now owns 2,402,945 shares of the transportation company’s stock worth $230,563,000 after purchasing an additional 117,222 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in C.H. Robinson Worldwide by 78.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,013,745 shares of the transportation company’s stock valued at $193,219,000 after buying an additional 884,160 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Insiders Place Their Bets

In other C.H. Robinson Worldwide news, insider Angela K. Freeman sold 8,579 shares of C.H. Robinson Worldwide stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $200.52, for a total transaction of $1,720,261.08. Following the transaction, the insider directly owned 55,611 shares of the company’s stock, valued at $11,151,117.72. The trade was a 13.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Arun Rajan acquired 605 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were acquired at an average price of $167.11 per share, with a total value of $101,101.55. Following the completion of the purchase, the insider owned 133,656 shares of the company’s stock, valued at $22,335,254.16. This trade represents a 0.45% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 2,422 shares of company stock worth $400,801 and sold 21,416 shares worth $4,157,630. 0.91% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CHRW shares. Loop Capital set a $206.00 price target on C.H. Robinson Worldwide in a research report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $200.00 price objective on shares of C.H. Robinson Worldwide in a research report on Thursday, January 29th. Barclays upgraded shares of C.H. Robinson Worldwide from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $145.00 to $200.00 in a report on Tuesday, December 16th. TD Cowen lifted their price target on shares of C.H. Robinson Worldwide from $165.00 to $194.00 and gave the stock a “hold” rating in a report on Thursday, January 29th. Finally, Weiss Ratings downgraded shares of C.H. Robinson Worldwide from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, February 17th. Fifteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $181.29.

C.H. Robinson Worldwide Price Performance

C.H. Robinson Worldwide stock opened at $193.32 on Wednesday. C.H. Robinson Worldwide, Inc. has a 1 year low of $84.68 and a 1 year high of $203.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.53 and a current ratio of 1.53. The firm has a 50 day moving average price of $179.13 and a 200 day moving average price of $154.23. The company has a market cap of $22.93 billion, a price-to-earnings ratio of 40.02, a PEG ratio of 1.97 and a beta of 0.90.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its quarterly earnings results on Wednesday, January 28th. The transportation company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.11. The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.97 billion. C.H. Robinson Worldwide had a net margin of 3.62% and a return on equity of 34.24%. C.H. Robinson Worldwide’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter last year, the business earned $1.21 EPS. Sell-side analysts predict that C.H. Robinson Worldwide, Inc. will post 4.83 earnings per share for the current year.

C.H. Robinson Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Friday, March 6th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, March 6th. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is 52.17%.

About C.H. Robinson Worldwide

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.