KBC Group NV Sells 2,693 Shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

KBC Group NV lessened its holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 14.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,572 shares of the transportation company’s stock after selling 2,693 shares during the period. KBC Group NV’s holdings in C.H. Robinson Worldwide were worth $1,719,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Swedbank AB purchased a new position in shares of C.H. Robinson Worldwide during the first quarter valued at approximately $1,051,000. abrdn plc grew its stake in C.H. Robinson Worldwide by 2.6% during the third quarter. abrdn plc now owns 508,803 shares of the transportation company’s stock valued at $55,818,000 after acquiring an additional 12,992 shares in the last quarter. Cetera Advisors LLC bought a new position in shares of C.H. Robinson Worldwide in the first quarter worth $6,665,000. Forsta AP Fonden increased its stake in C.H. Robinson Worldwide by 113.2% in the 3rd quarter. Forsta AP Fonden now owns 82,500 shares of the transportation company’s stock worth $9,106,000 after acquiring an additional 43,800 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in C.H. Robinson Worldwide by 26.3% in the second quarter. ProShare Advisors LLC now owns 2,528,787 shares of the transportation company’s stock valued at $222,837,000 after purchasing an additional 526,872 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

C.H. Robinson Worldwide Stock Down 0.2 %

Shares of C.H. Robinson Worldwide stock opened at $109.99 on Tuesday. C.H. Robinson Worldwide, Inc. has a 1 year low of $65.00 and a 1 year high of $113.10. The firm has a market cap of $13.00 billion, a price-to-earnings ratio of 38.06, a PEG ratio of 1.27 and a beta of 0.84. The company has a 50-day moving average of $106.92 and a 200 day moving average of $96.33. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.49 and a quick ratio of 1.49.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its earnings results on Wednesday, October 30th. The transportation company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.16. C.H. Robinson Worldwide had a net margin of 1.96% and a return on equity of 30.38%. The business had revenue of $4.64 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter last year, the firm earned $0.84 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, sell-side analysts anticipate that C.H. Robinson Worldwide, Inc. will post 4.37 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Friday, December 6th. C.H. Robinson Worldwide’s payout ratio is 85.81%.

Insiders Place Their Bets

In related news, insider Michael John Short sold 10,408 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $109.87, for a total value of $1,143,526.96. Following the completion of the transaction, the insider now directly owns 70,943 shares in the company, valued at $7,794,507.41. The trade was a 12.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.47% of the company’s stock.

Wall Street Analysts Forecast Growth

CHRW has been the subject of a number of recent research reports. Citigroup upgraded C.H. Robinson Worldwide from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $127.00 in a research report on Tuesday, November 12th. Susquehanna cut their target price on shares of C.H. Robinson Worldwide from $120.00 to $115.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. The Goldman Sachs Group increased their price target on shares of C.H. Robinson Worldwide from $97.00 to $107.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. UBS Group upgraded shares of C.H. Robinson Worldwide from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $100.00 to $140.00 in a research report on Friday, October 4th. Finally, Benchmark upped their price objective on shares of C.H. Robinson Worldwide from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $107.63.

C.H. Robinson Worldwide Company Profile

C.H. Robinson Worldwide, Inc, together with its subsidiaries, provides freight transportation services, and related logistics and supply chain services in the United States and internationally. It operates through two segments: North American Surface Transportation and Global Forwarding. The company offers transportation and logistics services, such as truckload, less than truckload transportation brokerage services, which include the shipment of single or multiple pallets of freight; intermodal transportation that comprises the shipment service of freight in containers or trailers by a combination of truck and rail; and non-vessel operating common carrier and freight forwarding services, as well as organizes air shipments and provides door-to-door services.