C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) Sees Large Growth in Short Interest

C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) was the target of a large growth in short interest in January. As of January 15th, there was short interest totaling 8,661,243 shares, a growth of 28.9% from the December 31st total of 6,719,058 shares. Based on an average daily volume of 1,767,280 shares, the days-to-cover ratio is currently 4.9 days. Approximately 7.4% of the shares of the company are sold short. Approximately 7.4% of the shares of the company are sold short. Based on an average daily volume of 1,767,280 shares, the days-to-cover ratio is currently 4.9 days.

Wall Street Analysts Forecast Growth

CHRW has been the subject of a number of analyst reports. Wolfe Research reaffirmed an “outperform” rating and issued a $188.00 price target on shares of C.H. Robinson Worldwide in a research note on Thursday, January 8th. Robert W. Baird set a $203.00 price target on shares of C.H. Robinson Worldwide in a research report on Thursday. Sanford C. Bernstein lifted their price objective on shares of C.H. Robinson Worldwide from $135.00 to $153.00 and gave the company a “market perform” rating in a research note on Friday, January 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $149.00 target price on shares of C.H. Robinson Worldwide in a report on Wednesday, January 14th. Finally, Susquehanna boosted their price target on C.H. Robinson Worldwide from $210.00 to $220.00 and gave the stock a “positive” rating in a report on Thursday. Sixteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, C.H. Robinson Worldwide presently has an average rating of “Moderate Buy” and a consensus price target of $181.29.

C.H. Robinson Worldwide Price Performance

Shares of CHRW traded up $3.55 during trading hours on Monday, reaching $198.50. The stock had a trading volume of 2,942,466 shares, compared to its average volume of 2,150,513. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.59 and a current ratio of 1.53. C.H. Robinson Worldwide has a 12 month low of $84.68 and a 12 month high of $200.32. The stock has a market capitalization of $23.45 billion, a PE ratio of 41.10, a PEG ratio of 2.06 and a beta of 0.89. The company’s 50-day moving average is $166.67 and its two-hundred day moving average is $142.13.

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

C.H. Robinson Worldwide Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Friday, December 5th were issued a $0.63 dividend. This is a boost from C.H. Robinson Worldwide’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, December 5th. This represents a $2.52 dividend on an annualized basis and a yield of 1.3%. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is 52.17%.

Insider Transactions at C.H. Robinson Worldwide

In related news, insider Michael John Short sold 1,230 shares of the stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $175.00, for a total transaction of $215,250.00. Following the sale, the insider owned 53,928 shares of the company’s stock, valued at $9,437,400. This represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Angela K. Freeman sold 49,884 shares of C.H. Robinson Worldwide stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $149.71, for a total value of $7,468,133.64. Following the completion of the transaction, the insider directly owned 65,728 shares of the company’s stock, valued at $9,840,138.88. This represents a 43.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 53,504 shares of company stock valued at $8,070,349 in the last three months. Insiders own 0.91% of the company’s stock.

Hedge Funds Weigh In On C.H. Robinson Worldwide

Several large investors have recently modified their holdings of CHRW. Wellington Management Group LLP increased its holdings in C.H. Robinson Worldwide by 198.6% in the third quarter. Wellington Management Group LLP now owns 7,143,297 shares of the transportation company’s stock valued at $945,773,000 after purchasing an additional 4,751,034 shares during the period. Norges Bank acquired a new position in C.H. Robinson Worldwide in the second quarter valued at $118,976,000. Boston Partners grew its holdings in 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 acquiring an additional 1,218,968 shares during the period. Bank of New York Mellon Corp raised its position in shares of 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 worth $193,219,000 after acquiring an additional 884,160 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in shares of C.H. Robinson Worldwide in the 3rd quarter valued at about $72,929,000. 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.