C.H. Robinson Worldwide, Inc. $CHRW Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its holdings in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 65.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,433 shares of the transportation company’s stock after selling 30,582 shares during the quarter. Thrivent Financial for Lutherans’ holdings in C.H. Robinson Worldwide were worth $2,176,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Independent Advisor Alliance grew its position in shares of C.H. Robinson Worldwide by 3.3% during the third quarter. Independent Advisor Alliance now owns 5,302 shares of the transportation company’s stock worth $702,000 after buying an additional 171 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new position in C.H. Robinson Worldwide during the 3rd quarter worth $203,000. National Pension Service increased its position in shares of C.H. Robinson Worldwide by 440.1% in the 3rd quarter. National Pension Service now owns 3,856 shares of the transportation company’s stock worth $511,000 after purchasing an additional 3,142 shares during the last quarter. Arizona State Retirement System raised its stake in shares of C.H. Robinson Worldwide by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 35,081 shares of the transportation company’s stock valued at $4,645,000 after purchasing an additional 526 shares in the last quarter. Finally, AE Wealth Management LLC lifted its position in shares of C.H. Robinson Worldwide by 6.4% during the third quarter. AE Wealth Management LLC now owns 52,853 shares of the transportation company’s stock worth $6,998,000 after purchasing an additional 3,199 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other C.H. Robinson Worldwide news, insider Michael D. Castagnetto sold 2,849 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $194.20, for a total value of $553,275.80. Following the sale, the insider owned 28,149 shares in the company, valued at approximately $5,466,535.80. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael John Short sold 2,390 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $161.91, for a total value of $386,964.90. Following the transaction, the insider owned 55,158 shares of the company’s stock, valued at approximately $8,930,631.78. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 6,469 shares of company stock valued at $1,155,491. 0.91% of the stock is owned by insiders.

C.H. Robinson Worldwide Price Performance

Shares of CHRW opened at $196.61 on Wednesday. The company has a market cap of $23.23 billion, a P/E ratio of 40.71, a PEG ratio of 2.11 and a beta of 0.90. The stock has a fifty day moving average price of $172.31 and a 200 day moving average price of $147.01. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.53 and a quick ratio of 1.59. C.H. Robinson Worldwide, Inc. has a 12 month low of $84.68 and a 12 month high of $203.34.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its 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 company had revenue of $3.91 billion for 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 firm’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period last year, the business posted $1.21 earnings per share. On average, research analysts forecast that C.H. Robinson Worldwide, Inc. will post 4.83 earnings per share for the current year.

C.H. Robinson Worldwide Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently weighed in on CHRW. TD Cowen boosted their price objective on C.H. Robinson Worldwide from $165.00 to $194.00 and gave the company a “hold” rating in a report on Thursday, January 29th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $200.00 price target on shares of C.H. Robinson Worldwide in a report on Thursday, January 29th. Barclays raised C.H. Robinson Worldwide from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $145.00 to $200.00 in a research report on Tuesday, December 16th. Benchmark lifted their price objective on shares of C.H. Robinson Worldwide from $160.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Finally, UBS Group set a $160.00 target price on shares of C.H. Robinson Worldwide in a research note on Thursday, January 29th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $181.29.

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.