C.H. Robinson Worldwide (NASDAQ:CHRW) Shares Gap Down – Time to Sell?

Shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) gapped down before the market opened on Friday . The stock had previously closed at $205.51, but opened at $191.81. C.H. Robinson Worldwide shares last traded at $189.8950, with a volume of 522,757 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently weighed in on CHRW. Bank of America cut their price objective on C.H. Robinson Worldwide from $225.00 to $219.00 and set a “buy” rating for the company in a report on Friday, March 27th. Citigroup initiated coverage on C.H. Robinson Worldwide in a report on Wednesday, July 15th. They set a “market outperform” rating on the stock. Susquehanna upped their price target on shares of C.H. Robinson Worldwide from $215.00 to $226.00 and gave the company a “positive” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. raised their price objective on shares of 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. Finally, Weiss Ratings cut shares of C.H. Robinson Worldwide from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $199.46.

C.H. Robinson Worldwide Trading Down 7.3%

The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.79. The stock has a market cap of $22.46 billion, a price-to-earnings ratio of 38.59, a P/E/G ratio of 1.78 and a beta of 0.91. The company has a fifty day simple moving average of $187.07 and a 200-day simple moving average of $180.73.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its earnings results on Wednesday, April 29th. The transportation company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.24 by $0.11. The company had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4.05 billion. C.H. Robinson Worldwide had a net margin of 3.70% and a return on equity of 35.49%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period last year, the company posted $1.17 earnings per share. On average, research analysts forecast that C.H. Robinson Worldwide, Inc. will post 6.12 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. Investors of record on Friday, June 5th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, June 5th. C.H. Robinson Worldwide’s dividend payout ratio is 51.01%.

Hedge Funds Weigh In On C.H. Robinson Worldwide

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHRW. Wedge Capital Management L L P NC grew its position in C.H. Robinson Worldwide by 0.6% during the 2nd quarter. Wedge Capital Management L L P NC now owns 50,211 shares of the transportation company’s stock worth $9,457,000 after purchasing an additional 297 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of C.H. Robinson Worldwide by 12.2% in the second quarter. Handelsbanken Fonder AB now owns 36,800 shares of the transportation company’s stock valued at $6,931,000 after purchasing an additional 4,000 shares in the last quarter. Contravisory Investment Management Inc. boosted its position in shares of C.H. Robinson Worldwide by 2.8% in the second quarter. Contravisory Investment Management Inc. now owns 6,164 shares of the transportation company’s stock worth $1,161,000 after buying an additional 167 shares during the period. Sax Wealth Advisors LLC acquired a new stake in shares of C.H. Robinson Worldwide in the second quarter worth $286,000. Finally, Czech National Bank grew its holdings in shares of C.H. Robinson Worldwide by 3.9% during the second quarter. Czech National Bank now owns 33,551 shares of the transportation company’s stock valued at $6,319,000 after buying an additional 1,245 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

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.