JPMorgan Chase & Co. Cuts Position in C.H. Robinson Worldwide, Inc. $CHRW

JPMorgan Chase & Co. decreased its position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 4.4% during the third quarter, HoldingsChannel.com reports. The fund owned 745,451 shares of the transportation company’s stock after selling 34,677 shares during the quarter. JPMorgan Chase & Co.’s holdings in C.H. Robinson Worldwide were worth $98,698,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp increased its position in C.H. Robinson Worldwide by 2.8% in the third quarter. Jones Financial Companies Lllp now owns 2,563 shares of the transportation company’s stock worth $338,000 after purchasing an additional 69 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of C.H. Robinson Worldwide by 16.7% in the 3rd quarter. UMB Bank n.a. now owns 656 shares of the transportation company’s stock worth $87,000 after buying an additional 94 shares during the last quarter. State of Michigan Retirement System raised its position in shares of C.H. Robinson Worldwide by 0.3% during the 2nd quarter. State of Michigan Retirement System now owns 32,292 shares of the transportation company’s stock valued at $3,098,000 after buying an additional 100 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of C.H. Robinson Worldwide by 26.3% in the 2nd quarter. Assetmark Inc. now owns 529 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 110 shares during the last quarter. Finally, Fulton Bank N.A. grew its position in C.H. Robinson Worldwide by 4.2% in the third quarter. Fulton Bank N.A. now owns 3,350 shares of the transportation company’s stock worth $444,000 after acquiring an additional 134 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

C.H. Robinson Worldwide Trading Down 6.8%

Shares of NASDAQ CHRW opened at $177.20 on Tuesday. C.H. Robinson Worldwide, Inc. has a twelve month low of $84.68 and a twelve month high of $203.34. The firm has a market cap of $21.02 billion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 2.00 and a beta of 0.89. The business has a fifty day simple moving average of $176.67 and a two-hundred day simple moving average of $151.50. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.59.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its quarterly earnings results on Wednesday, January 28th. The transportation company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.12 by $0.11. The firm had revenue of $3.91 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.21 earnings per share. Analysts expect that C.H. Robinson Worldwide, Inc. will post 4.83 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Friday, March 6th will be issued a $0.63 dividend. The ex-dividend date is Friday, March 6th. This represents a $2.52 annualized dividend and a dividend yield of 1.4%. C.H. Robinson Worldwide’s payout ratio is currently 52.17%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CHRW. Stifel Nicolaus boosted their target price on C.H. Robinson Worldwide from $184.00 to $202.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Barclays upgraded C.H. Robinson Worldwide from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $145.00 to $200.00 in a research report on Tuesday, December 16th. Robert W. Baird set a $203.00 price target on C.H. Robinson Worldwide in a report on Thursday, January 29th. Stephens set a $173.00 price objective on C.H. Robinson Worldwide in a report on Thursday, October 30th. Finally, Weiss Ratings lowered C.H. Robinson Worldwide from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, February 17th. Fifteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $181.29.

Insider Transactions at C.H. Robinson Worldwide

In related news, insider Angela K. Freeman sold 8,579 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $200.52, for a total value of $1,720,261.08. Following the completion of the transaction, the insider owned 55,611 shares of the company’s stock, valued at $11,151,117.72. The trade was a 13.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael D. Castagnetto bought 594 shares of the stock in a transaction on Thursday, February 12th. The shares were bought at an average price of $168.24 per share, with a total value of $99,934.56. Following the acquisition, the insider owned 35,488 shares of the company’s stock, valued at $5,970,501.12. This trade represents a 1.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have bought 2,422 shares of company stock worth $400,801 and have sold 21,416 shares worth $4,157,630. 0.91% of the stock is currently owned by company insiders.

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.