Sumitomo Mitsui DS Asset Management Company Ltd Buys 350,058 Shares of C.H. Robinson Worldwide, Inc. $CHRW

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 2,168.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 366,201 shares of the transportation company’s stock after buying an additional 350,058 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd owned about 0.31% of C.H. Robinson Worldwide worth $54,183,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Continuum Advisory LLC acquired a new stake in C.H. Robinson Worldwide in the 2nd quarter valued at $27,000. NBH Bank bought a new stake in C.H. Robinson Worldwide in the second quarter valued at $29,000. Millstone Evans Group LLC grew its position in C.H. Robinson Worldwide by 79.8% in the first quarter. Millstone Evans Group LLC now owns 160 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 71 shares during the period. Burkett Financial Services LLC acquired a new position in C.H. Robinson Worldwide during the third quarter worth $25,000. Finally, Cornerstone Planning Group LLC raised its stake in C.H. Robinson Worldwide by 57.3% during the first quarter. Cornerstone Planning Group LLC now owns 184 shares of the transportation company’s stock worth $31,000 after acquiring an additional 67 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Robert W. Baird cut their price objective on C.H. Robinson Worldwide from $230.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 28th. Stephens lowered their target price on shares of C.H. Robinson Worldwide from $225.00 to $215.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Truist Financial dropped their target price on shares of C.H. Robinson Worldwide from $215.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft downgraded shares of C.H. Robinson Worldwide from a “buy” rating to a “hold” rating and set a $153.00 price target for the company. in a report on Monday, October 12th. Finally, TD Cowen reissued a “hold” rating on shares of C.H. Robinson Worldwide in a report on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $190.00.

C.H. Robinson Worldwide Trading Down 0.5%

CHRW stock opened at $138.85 on Tuesday. The business has a fifty day moving average price of $147.01 and a 200 day moving average price of $167.70. C.H. Robinson Worldwide, Inc. has a fifty-two week low of $125.35 and a fifty-two week high of $210.33. The stock has a market capitalization of $16.22 billion, a price-to-earnings ratio of 26.50, a P/E/G ratio of 1.16 and a beta of 0.94. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.58 and a quick ratio of 1.58.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. The company had revenue of $4.93 billion for the quarter, compared to analyst estimates of $4.35 billion. C.H. Robinson Worldwide had a return on equity of 38.36% and a net margin of 3.73%. The business’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.29 earnings per share. Analysts expect that C.H. Robinson Worldwide, Inc. will post 6.26 EPS for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 4th were paid a $0.63 dividend. The ex-dividend date was Friday, September 4th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.8%. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is 48.09%.

C.H. Robinson Worldwide Company Profile

C.H. Robinson Worldwide, Inc is a global third-party logistics provider that connects shippers with transportation carriers and other supply-chain resources. The company arranges the movement of freight by truckload, less-than-truckload, intermodal, ocean and air transportation, serving businesses across a range of industries.

Its services include freight brokerage, transportation management, logistics consulting, customs and trade support, shipment tracking, and technology-enabled supply-chain solutions.