Principal Financial Group Inc. Acquires 133,497 Shares of C.H. Robinson Worldwide, Inc. $CHRW

Principal Financial Group Inc. raised its holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 44.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 434,580 shares of the transportation company’s stock after buying an additional 133,497 shares during the quarter. Principal Financial Group Inc. owned about 0.37% of C.H. Robinson Worldwide worth $72,173,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in C.H. Robinson Worldwide by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 14,565,409 shares of the transportation company’s stock valued at $2,341,535,000 after purchasing an additional 364,163 shares during the period. State Street Corp lifted its position in shares of C.H. Robinson Worldwide by 5.7% in the 2nd quarter. State Street Corp now owns 7,420,768 shares of the transportation company’s stock worth $716,423,000 after purchasing an additional 397,177 shares during the period. Wellington Management Group LLP boosted its stake in shares of C.H. Robinson Worldwide by 198.6% during the 3rd 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 in the last quarter. Boston Partners boosted its stake in shares of C.H. Robinson Worldwide by 6.1% during the 3rd quarter. Boston Partners now owns 3,731,363 shares of the transportation company’s stock valued at $494,372,000 after purchasing an additional 213,245 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of C.H. Robinson Worldwide by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,214,855 shares of the transportation company’s stock valued at $514,889,000 after buying an additional 16,961 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Robert W. Baird set a $230.00 price objective on shares of C.H. Robinson Worldwide in a report on Friday, May 1st. Susquehanna upped their target price on C.H. Robinson Worldwide from $215.00 to $226.00 and gave the stock a “positive” rating in a report on Tuesday. BMO Capital Markets increased their target price on C.H. Robinson Worldwide from $180.00 to $190.00 and gave the stock a “market perform” rating in a research report on Monday. Bank of America lowered their target price on C.H. Robinson Worldwide from $225.00 to $219.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Finally, Jefferies Financial Group upgraded C.H. Robinson Worldwide from a “hold” rating to a “buy” rating and lifted their price target for the company from $195.00 to $200.00 in a research report on Wednesday, May 20th. Seventeen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $198.62.

C.H. Robinson Worldwide Stock Performance

C.H. Robinson Worldwide stock opened at $205.75 on Friday. C.H. Robinson Worldwide, Inc. has a twelve month low of $96.27 and a twelve month high of $208.70. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $24.25 billion, a P/E ratio of 41.65, a PEG ratio of 1.70 and a beta of 0.91. The stock’s 50 day moving average is $182.97 and its 200 day moving average is $179.14.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.11. C.H. Robinson Worldwide had a return on equity of 35.49% and a net margin of 3.70%.The business had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the previous year, the business earned $1.17 earnings per share. The firm’s quarterly revenue was down .9% compared to the same quarter last year. On average, equities research analysts predict that C.H. Robinson Worldwide, Inc. will post 6.11 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

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

More C.H. Robinson Worldwide News

Here are the key news stories impacting C.H. Robinson Worldwide this week:

• Positive Sentiment: Truist Financial raised its price target on C.H. Robinson Worldwide to $215 from $210 and reiterated a buy rating, signaling continued confidence in the company’s outlook. Truist price target raise report
• Positive Sentiment: Stifel Nicolaus also lifted its price target to $215 from $207 and kept a buy rating, adding to the bullish analyst momentum. Stifel price target raise report
• Positive Sentiment: Citizens JMP initiated coverage with a market perform rating and a $235 target, which is above the current trading level and may still support investor sentiment. Citizens JMP coverage initiation
• Neutral Sentiment: A Zacks comparison article weighing ZTO Express against CHRW highlights valuation considerations, but it does not appear to include a major new catalyst for the stock. Zacks comparison article
• Neutral Sentiment: Susquehanna issued a positive forecast for C.H. Robinson Worldwide, reinforcing expectations that analysts see room for further upside. Susquehanna forecast report

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.