C.H. Robinson Worldwide, Inc. $CHRW Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its position in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 3.4% during the first quarter, HoldingsChannel reports. The firm owned 272,861 shares of the transportation company’s stock after selling 9,570 shares during the period. Jennison Associates LLC’s holdings in C.H. Robinson Worldwide were worth $45,314,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in C.H. Robinson Worldwide by 3.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 804,215 shares of the transportation company’s stock worth $82,352,000 after buying an additional 24,788 shares during the period. United Services Automobile Association purchased a new position in C.H. Robinson Worldwide in the 1st quarter valued at about $259,000. Empowered Funds LLC grew its stake in shares of C.H. Robinson Worldwide by 2.3% during the first quarter. Empowered Funds LLC now owns 15,516 shares of the transportation company’s stock valued at $1,589,000 after acquiring an additional 350 shares in the last quarter. Woodline Partners LP grew its stake in shares of C.H. Robinson Worldwide by 41.3% during the first quarter. Woodline Partners LP now owns 10,029 shares of the transportation company’s stock valued at $1,027,000 after acquiring an additional 2,930 shares in the last quarter. Finally, Focus Partners Wealth increased its position in shares of C.H. Robinson Worldwide by 9.9% during the first quarter. Focus Partners Wealth now owns 3,974 shares of the transportation company’s stock worth $407,000 after acquiring an additional 359 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

C.H. Robinson Worldwide Stock Down 1.3%

CHRW stock opened at $205.80 on Tuesday. The firm has a fifty day moving average price of $184.43 and a two-hundred day moving average price of $179.77. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.59 and a quick ratio of 1.59. C.H. Robinson Worldwide, Inc. has a 1-year low of $96.27 and a 1-year high of $209.65. The firm has a market cap of $24.26 billion, a price-to-earnings ratio of 41.66, a PEG ratio of 1.80 and a beta of 0.91.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.24 by $0.11. C.H. Robinson Worldwide had a net margin of 3.70% and a return on equity of 35.49%. The business had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same period in the previous year, the business posted $1.17 EPS. The company’s quarterly revenue was down .9% on a year-over-year basis. Research analysts predict that C.H. Robinson Worldwide, Inc. will post 6.11 EPS for the current year.

C.H. Robinson Worldwide Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. BMO Capital Markets boosted their price target on C.H. Robinson Worldwide from $180.00 to $190.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. TD Cowen lifted their price objective on C.H. Robinson Worldwide from $194.00 to $196.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Susquehanna upped their target price on C.H. Robinson Worldwide from $215.00 to $226.00 and gave the company a “positive” rating in a research report on Tuesday, July 14th. Bank of America reduced 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, Citigroup started coverage on shares of C.H. Robinson Worldwide in a research report on Wednesday, July 15th. They set a “market outperform” rating for the company. Seventeen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.62.

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.