Ashton Thomas Private Wealth LLC Raises Holdings in C.H. Robinson Worldwide, Inc. $CHRW

Ashton Thomas Private Wealth LLC lifted its stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 0.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 252,787 shares of the transportation company’s stock after buying an additional 459 shares during the quarter. C.H. Robinson Worldwide makes up 0.9% of Ashton Thomas Private Wealth LLC’s holdings, making the stock its 20th largest position. Ashton Thomas Private Wealth LLC’s holdings in C.H. Robinson Worldwide were worth $24,412,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Envestnet Asset Management Inc. boosted its stake in shares of C.H. Robinson Worldwide by 30.6% in the second quarter. Envestnet Asset Management Inc. now owns 320,884 shares of the transportation company’s stock worth $30,789,000 after buying an additional 75,212 shares during the last quarter. Wealthfront Advisers LLC boosted its stake in shares of C.H. Robinson Worldwide by 50.2% in the second quarter. Wealthfront Advisers LLC now owns 4,164 shares of the transportation company’s stock worth $400,000 after buying an additional 1,391 shares during the last quarter. MQS Management LLC boosted its stake in shares of C.H. Robinson Worldwide by 13.3% in the second quarter. MQS Management LLC now owns 4,906 shares of the transportation company’s stock worth $471,000 after buying an additional 576 shares during the last quarter. AlphaQuest LLC boosted its stake in shares of C.H. Robinson Worldwide by 152.5% in the second quarter. AlphaQuest LLC now owns 7,116 shares of the transportation company’s stock worth $683,000 after buying an additional 4,298 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of C.H. Robinson Worldwide by 3.0% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 338,969 shares of the transportation company’s stock worth $32,524,000 after buying an additional 9,774 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Stifel Nicolaus upped their target price on C.H. Robinson Worldwide from $111.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Truist Financial set a $150.00 price target on C.H. Robinson Worldwide in a research report on Tuesday, October 14th. Baird R W upgraded C.H. Robinson Worldwide from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. increased their price target on C.H. Robinson Worldwide from $126.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Finally, TD Cowen increased their price target on C.H. Robinson Worldwide from $112.00 to $116.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $136.05.

Insider Activity

In other news, insider Michael John Short sold 6,364 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $117.24, for a total value of $746,115.36. Following the transaction, the insider owned 60,401 shares in the company, valued at $7,081,413.24. This trade represents a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Arun Rajan sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $121.74, for a total value of $304,350.00. Following the completion of the transaction, the insider owned 130,591 shares in the company, valued at approximately $15,898,148.34. This trade represents a 1.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,577 shares of company stock worth $1,714,544 over the last quarter. 0.91% of the stock is currently owned by corporate insiders.

C.H. Robinson Worldwide Stock Performance

Shares of CHRW stock opened at $126.06 on Monday. The company has a market capitalization of $14.89 billion, a P/E ratio of 28.72, a P/E/G ratio of 1.74 and a beta of 0.90. The business’s 50 day moving average is $129.45 and its two-hundred day moving average is $108.98. C.H. Robinson Worldwide, Inc. has a 12-month low of $84.68 and a 12-month high of $138.00. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.52.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its earnings results on Wednesday, July 30th. The transportation company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.12. The business had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $4.16 billion. C.H. Robinson Worldwide had a return on equity of 35.01% and a net margin of 3.14%.The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.15 earnings per share. Analysts expect that C.H. Robinson Worldwide, Inc. will post 4.83 EPS for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, September 5th. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is 56.49%.

C.H. Robinson Worldwide 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.