Patton Fund Management Inc. Acquires 24,110 Shares of C.H. Robinson Worldwide, Inc. $CHRW

Patton Fund Management Inc. raised its stake in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 1,716.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 25,515 shares of the transportation company’s stock after purchasing an additional 24,110 shares during the period. C.H. Robinson Worldwide makes up approximately 0.7% of Patton Fund Management Inc.’s portfolio, making the stock its 25th biggest holding. Patton Fund Management Inc.’s holdings in C.H. Robinson Worldwide were worth $4,237,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHRW. Goldman Sachs Group Inc. boosted its position in shares of C.H. Robinson Worldwide by 3.2% during the first quarter. Goldman Sachs Group Inc. now owns 804,215 shares of the transportation company’s stock valued at $82,352,000 after buying an additional 24,788 shares during the last quarter. United Services Automobile Association purchased a new stake in C.H. Robinson Worldwide in the 1st quarter valued at $259,000. Empowered Funds LLC raised its position in C.H. Robinson Worldwide by 2.3% in the 1st quarter. Empowered Funds LLC now owns 15,516 shares of the transportation company’s stock valued at $1,589,000 after buying an additional 350 shares during the last quarter. Woodline Partners LP lifted its stake in C.H. Robinson Worldwide by 41.3% during the 1st 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 lifted its stake in C.H. Robinson Worldwide by 9.9% during the 1st quarter. Focus Partners Wealth now owns 3,974 shares of the transportation company’s stock valued at $407,000 after acquiring an additional 359 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

C.H. Robinson Worldwide Stock Performance

Shares of CHRW stock opened at $179.38 on Monday. The firm’s 50 day moving average is $179.63 and its 200 day moving average is $176.05. The stock has a market capitalization of $21.14 billion, a P/E ratio of 36.31, a PEG ratio of 1.55 and a beta of 0.91. C.H. Robinson Worldwide, Inc. has a 12 month low of $93.47 and a 12 month high of $203.34. 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 (NASDAQ:CHRW) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates 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 earned $1.17 EPS. C.H. Robinson Worldwide’s revenue was down .9% compared to the same quarter last year. On average, sell-side analysts anticipate that C.H. Robinson Worldwide, Inc. will post 6.09 earnings per share for the current year.

C.H. Robinson Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 5th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, June 5th. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is presently 51.01%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CHRW. Citigroup lowered shares of C.H. Robinson Worldwide from a “buy” rating to a “neutral” rating and set a $199.00 target price for the company. in a research note on Monday, June 15th. Bank of America dropped their price target on shares of C.H. Robinson Worldwide from $225.00 to $219.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Wells Fargo & Company boosted their price target on shares of C.H. Robinson Worldwide from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings downgraded shares of C.H. Robinson Worldwide from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Finally, Raymond James Financial set a $210.00 price objective on shares of C.H. Robinson Worldwide in a research note on Thursday, April 30th. Sixteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $195.65.

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.