C.H. Robinson Worldwide, Inc. $CHRW Stock Position Cut by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its stake in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 65.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 16,433 shares of the transportation company’s stock after selling 30,582 shares during the period. Thrivent Financial for Lutherans’ holdings in C.H. Robinson Worldwide were worth $2,176,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of C.H. Robinson Worldwide during the second quarter valued at approximately $118,976,000. Boston Partners boosted its stake in C.H. Robinson Worldwide by 53.0% during the 2nd quarter. Boston Partners now owns 3,518,118 shares of the transportation company’s stock valued at $340,646,000 after purchasing an additional 1,218,968 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of C.H. Robinson Worldwide by 78.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,013,745 shares of the transportation company’s stock valued at $193,219,000 after purchasing an additional 884,160 shares during the period. Qube Research & Technologies Ltd raised its stake in shares of C.H. Robinson Worldwide by 119.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 793,841 shares of the transportation company’s stock worth $76,169,000 after buying an additional 432,406 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of C.H. Robinson Worldwide by 5.7% in the second quarter. State Street Corp now owns 7,420,768 shares of the transportation company’s stock valued at $716,423,000 after buying an additional 397,177 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at C.H. Robinson Worldwide

In other news, insider Michael John Short sold 1,230 shares of C.H. Robinson Worldwide stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $175.00, for a total transaction of $215,250.00. Following the transaction, the insider owned 53,928 shares in the company, valued at approximately $9,437,400. The trade was a 2.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael D. Castagnetto sold 2,849 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $194.20, for a total value of $553,275.80. Following the completion of the sale, the insider directly owned 28,149 shares of the company’s stock, valued at approximately $5,466,535.80. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 6,469 shares of company stock valued at $1,155,491. 0.91% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on CHRW shares. UBS Group set a $160.00 target price on C.H. Robinson Worldwide in a report on Thursday, January 29th. Sanford C. Bernstein lifted their price objective on shares of C.H. Robinson Worldwide from $135.00 to $153.00 and gave the stock a “market perform” rating in a research note on Friday, January 9th. Truist Financial boosted their target price on shares of C.H. Robinson Worldwide from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Citigroup raised their target price on shares of C.H. Robinson Worldwide from $177.00 to $202.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Finally, Raymond James Financial restated an “outperform” rating and issued a $215.00 price target on shares of C.H. Robinson Worldwide in a research report on Thursday, January 29th. Sixteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $181.29.

C.H. Robinson Worldwide Stock Performance

Shares of CHRW opened at $196.61 on Wednesday. The company has a 50-day moving average of $172.31 and a two-hundred day moving average of $147.01. The stock has a market cap of $23.23 billion, a price-to-earnings ratio of 40.71, a PEG ratio of 2.11 and a beta of 0.90. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.53 and a quick ratio of 1.59. C.H. Robinson Worldwide, Inc. has a one year low of $84.68 and a one year high of $203.34.

C.H. Robinson Worldwide (NASDAQ:CHRW) last issued its quarterly earnings results on Wednesday, January 28th. The transportation company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.12 by $0.11. C.H. Robinson Worldwide had a net margin of 3.62% and a return on equity of 34.24%. The business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the prior year, the firm earned $1.21 EPS. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. On average, equities research analysts expect that C.H. Robinson Worldwide, Inc. will post 4.83 earnings per share for the current year.

C.H. Robinson Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Friday, March 6th will be issued a $0.63 dividend. The ex-dividend date is Friday, March 6th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.3%. C.H. Robinson Worldwide’s dividend payout ratio is presently 52.17%.

C.H. Robinson Worldwide Profile

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.