Bank of America Cuts C.H. Robinson Worldwide (NASDAQ:CHRW) Price Target to $219.00

C.H. Robinson Worldwide (NASDAQ:CHRW) had its price objective cut by Bank of America from $225.00 to $219.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

CHRW has been the subject of several other reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $149.00 target price on shares of C.H. Robinson Worldwide in a research report on Wednesday, January 14th. Stifel Nicolaus raised their price objective on shares of C.H. Robinson Worldwide from $184.00 to $202.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Truist Financial lifted their price objective on shares of C.H. Robinson Worldwide from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Wells Fargo & Company upped their target price on shares of C.H. Robinson Worldwide from $185.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, January 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $200.00 target price on shares of C.H. Robinson Worldwide in a research note on Thursday, January 29th. Fifteen research 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $182.83.

C.H. Robinson Worldwide Price Performance

Shares of NASDAQ CHRW opened at $161.57 on Friday. The stock’s 50-day simple moving average is $181.28 and its two-hundred day simple moving average is $160.18. C.H. Robinson Worldwide has a twelve month low of $84.68 and a twelve month high of $203.34. The firm has a market capitalization of $19.04 billion, a P/E ratio of 33.45, a P/E/G ratio of 1.70 and a beta of 0.90. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.59.

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

C.H. Robinson Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Friday, March 6th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.6%. C.H. Robinson Worldwide’s dividend payout ratio is 52.17%.

Insider Activity at C.H. Robinson Worldwide

In other C.H. Robinson Worldwide news, CEO David P. Bozeman purchased 1,223 shares of the business’s stock in a transaction on Thursday, February 12th. The stock was acquired at an average cost of $163.34 per share, for a total transaction of $199,764.82. Following the completion of the transaction, the chief executive officer directly owned 190,600 shares in the company, valued at approximately $31,132,604. This represents a 0.65% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael John Short sold 6,368 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $201.30, for a total transaction of $1,281,878.40. Following the sale, the insider owned 52,101 shares of the company’s stock, valued at approximately $10,487,931.30. The trade was a 10.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have purchased 2,422 shares of company stock worth $400,801 and have sold 21,416 shares worth $4,157,630. 0.91% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On C.H. Robinson Worldwide

A number of hedge funds and other institutional investors have recently modified their holdings of CHRW. Bank of Jackson Hole Trust bought a new stake in C.H. Robinson Worldwide in the fourth quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of C.H. Robinson Worldwide during the third quarter valued at approximately $27,000. DV Equities LLC purchased a new position in shares of C.H. Robinson Worldwide in the fourth quarter worth $27,000. CYBER HORNET ETFs LLC bought a new stake in C.H. Robinson Worldwide during the 2nd quarter valued at $30,000. Finally, Clearstead Advisors LLC raised its holdings in C.H. Robinson Worldwide by 110.3% during the 3rd quarter. Clearstead Advisors LLC now owns 244 shares of the transportation company’s stock valued at $32,000 after buying an additional 128 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

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.