OP Asset Management Ltd Acquires New Position in C.H. Robinson Worldwide, Inc. $CHRW

OP Asset Management Ltd bought a new position in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) during the first quarter, HoldingsChannel.com reports. The firm bought 17,683 shares of the transportation company’s stock, valued at approximately $2,937,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of C.H. Robinson Worldwide by 198.6% in the third quarter. Wellington Management Group LLP now owns 7,143,297 shares of the transportation company’s stock worth $945,773,000 after acquiring an additional 4,751,034 shares in the last quarter. Auto Owners Insurance Co raised its stake in shares of C.H. Robinson Worldwide by 15,976.0% in the fourth quarter. Auto Owners Insurance Co now owns 1,511,144 shares of the transportation company’s stock valued at $24,293,000 after acquiring an additional 1,501,744 shares in the last quarter. Norges Bank purchased a new position in C.H. Robinson Worldwide in the fourth quarter valued at $236,665,000. Capital World Investors purchased a new position in C.H. Robinson Worldwide in the fourth quarter valued at $165,976,000. Finally, Pinebridge Investments LLC acquired a new position in C.H. Robinson Worldwide during the 4th quarter worth $103,751,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CHRW. Stifel Nicolaus upped their price target on C.H. Robinson Worldwide from $202.00 to $207.00 and gave the stock a “buy” rating in a report on Friday, May 1st. TD Cowen boosted their price objective on C.H. Robinson Worldwide from $194.00 to $196.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Weiss Ratings lowered shares of C.H. Robinson Worldwide from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Robert W. Baird set a $230.00 target price on shares of C.H. Robinson Worldwide in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of C.H. Robinson Worldwide from $180.00 to $196.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Sixteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, C.H. Robinson Worldwide presently has a consensus rating of “Moderate Buy” and an average price target of $195.65.

C.H. Robinson Worldwide Stock Down 0.5%

Shares of NASDAQ:CHRW opened at $179.38 on Friday. The company has a market capitalization of $21.14 billion, a PE ratio of 36.31, a P/E/G ratio of 1.55 and a beta of 0.91. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.79. C.H. Robinson Worldwide, Inc. has a twelve month low of $93.47 and a twelve month high of $203.34. The firm has a 50 day simple moving average of $179.63 and a 200-day simple moving average of $175.89.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.35 EPS for the quarter, topping 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 firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the business earned $1.17 EPS. C.H. Robinson Worldwide’s revenue for the quarter was down .9% compared to the same quarter last year. On average, equities analysts predict that C.H. Robinson Worldwide, Inc. will post 6.09 EPS for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 5th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, June 5th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.4%. C.H. Robinson Worldwide’s payout ratio is 51.01%.

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.