Covestor Ltd Sells 314 Shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Covestor Ltd lowered its holdings in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 24.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 963 shares of the transportation company’s stock after selling 314 shares during the quarter. Covestor Ltd’s holdings in C.H. Robinson Worldwide were worth $106,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CHRW. CWA Asset Management Group LLC bought a new position in shares of C.H. Robinson Worldwide in the 3rd quarter valued at about $285,000. Portside Wealth Group LLC lifted its stake in shares of C.H. Robinson Worldwide by 2.6% in the 3rd quarter. Portside Wealth Group LLC now owns 8,578 shares of the transportation company’s stock valued at $947,000 after purchasing an additional 221 shares during the last quarter. Moloney Securities Asset Management LLC purchased a new position in shares of C.H. Robinson Worldwide in the 3rd quarter worth approximately $1,056,000. QRG Capital Management Inc. increased its position in shares of C.H. Robinson Worldwide by 0.9% during the 3rd quarter. QRG Capital Management Inc. now owns 11,148 shares of the transportation company’s stock valued at $1,230,000 after purchasing an additional 98 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in C.H. Robinson Worldwide by 13.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 45,583 shares of the transportation company’s stock valued at $5,031,000 after buying an additional 5,354 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

C.H. Robinson Worldwide Price Performance

NASDAQ CHRW opened at $109.09 on Wednesday. The company has a market cap of $12.90 billion, a PE ratio of 37.75, a P/E/G ratio of 1.25 and a beta of 0.84. The firm’s 50 day moving average price is $106.22 and its 200-day moving average price is $95.29. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.42 and a current ratio of 1.49. C.H. Robinson Worldwide, Inc. has a 52-week low of $65.00 and a 52-week high of $113.10.

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

C.H. Robinson Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, December 6th. C.H. Robinson Worldwide’s payout ratio is 85.81%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Bank of America upgraded shares of C.H. Robinson Worldwide from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $76.00 to $99.00 in a research report on Monday, July 22nd. Susquehanna cut their price target 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. TD Cowen raised their price objective on shares of C.H. Robinson Worldwide from $103.00 to $113.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Evercore ISI upped their target price on C.H. Robinson Worldwide from $112.00 to $122.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, BMO Capital Markets raised their price target on C.H. Robinson Worldwide from $92.00 to $115.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $107.00.

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.