Bank of New York Mellon Corp Sells 446,717 Shares of C.H. Robinson Worldwide, Inc. $CHRW

Bank of New York Mellon Corp trimmed its position in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 23.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,490,697 shares of the transportation company’s stock after selling 446,717 shares during the quarter. Bank of New York Mellon Corp owned 1.26% of C.H. Robinson Worldwide worth $239,644,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of C.H. Robinson Worldwide by 198.6% during the third quarter. Wellington Management Group LLP now owns 7,143,297 shares of the transportation company’s stock worth $945,773,000 after buying an additional 4,751,034 shares during the period. Norges Bank acquired a new position in shares of C.H. Robinson Worldwide during the fourth quarter worth about $236,665,000. Westfield Capital Management Co. LP acquired a new position in shares of C.H. Robinson Worldwide during the third quarter worth about $72,929,000. William Blair Investment Management LLC acquired a new position in shares of C.H. Robinson Worldwide during the fourth quarter worth about $70,333,000. Finally, Raymond James Financial Inc. boosted its position in shares of C.H. Robinson Worldwide by 68.5% during the third quarter. Raymond James Financial Inc. now owns 1,051,312 shares of the transportation company’s stock worth $139,194,000 after buying an additional 427,543 shares during the period. 93.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

CHRW has been the subject of several recent research reports. Weiss Ratings cut C.H. Robinson Worldwide from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. increased their price target on C.H. Robinson Worldwide from $180.00 to $196.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Wall Street Zen cut C.H. Robinson Worldwide from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Barclays increased their price target on C.H. Robinson Worldwide from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, Raymond James Financial set a $210.00 price target on C.H. Robinson Worldwide in a research report on Thursday, April 30th. Seventeen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, C.H. Robinson Worldwide currently has an average rating of “Moderate Buy” and a consensus price target of $195.65.

C.H. Robinson Worldwide Stock Performance

CHRW opened at $184.78 on Friday. C.H. Robinson Worldwide, Inc. has a 12-month low of $92.36 and a 12-month high of $203.34. The stock has a market cap of $21.78 billion, a price-to-earnings ratio of 37.41, a PEG ratio of 1.56 and a beta of 0.91. The business has a 50 day moving average of $173.67 and a 200-day moving average of $172.69. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.79.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.11. C.H. Robinson Worldwide had a return on equity of 35.49% and a net margin of 3.70%.The company had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period last year, the firm posted $1.17 earnings per share. The business’s revenue was down .9% on a year-over-year basis. On average, equities research analysts expect that C.H. Robinson Worldwide, Inc. will post 6.09 earnings per share for the current year.

C.H. Robinson Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 5th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, June 5th. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is presently 51.01%.

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.