C.H. Robinson Worldwide, Inc. $CHRW Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 35.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 964,450 shares of the transportation company’s stock after selling 526,247 shares during the period. Bank of New York Mellon Corp’s holdings in C.H. Robinson Worldwide were worth $160,166,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Jones Kertz & Associates Inc. purchased a new stake in C.H. Robinson Worldwide in the 4th quarter valued at $1,557,000. Massachusetts Financial Services Co. MA purchased a new position in C.H. Robinson Worldwide during the 4th quarter worth $3,699,000. New York State Teachers Retirement System increased its stake in C.H. Robinson Worldwide by 6.0% in the fourth quarter. New York State Teachers Retirement System now owns 104,269 shares of the transportation company’s stock valued at $16,762,000 after purchasing an additional 5,877 shares during the period. Contravisory Investment Management Inc. acquired a new position in C.H. Robinson Worldwide in the fourth quarter valued at $965,000. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of C.H. Robinson Worldwide in the third quarter valued at about $3,085,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

CHRW has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price objective on C.H. Robinson Worldwide from $180.00 to $196.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Susquehanna lifted their target price on C.H. Robinson Worldwide from $215.00 to $226.00 and gave the company a “positive” rating in a research note on Tuesday, July 14th. Wells Fargo & Company upped their price target on C.H. Robinson Worldwide from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. TD Cowen increased their price target on C.H. Robinson Worldwide from $194.00 to $196.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Finally, Barclays lifted their price objective on shares of 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. Seventeen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $198.62.

C.H. Robinson Worldwide Stock Performance

NASDAQ:CHRW opened at $208.50 on Monday. C.H. Robinson Worldwide, Inc. has a 1 year low of $96.27 and a 1 year high of $208.83. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.59 and a current ratio of 1.59. The stock has a fifty day moving average price of $183.71 and a two-hundred day moving average price of $179.46. The stock has a market capitalization of $24.58 billion, a price-to-earnings ratio of 42.21, a PEG ratio of 1.80 and a beta of 0.91.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.11. C.H. Robinson Worldwide had a net margin of 3.70% and a return on equity of 35.49%. The firm had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the previous year, the firm earned $1.17 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. As a group, sell-side analysts anticipate that C.H. Robinson Worldwide, Inc. will post 6.11 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, June 5th. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is currently 51.01%.

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.