C.H. Robinson Worldwide, Inc. $CHRW Shares Purchased by Picton Mahoney Asset Management

Picton Mahoney Asset Management increased its position in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 30,363.6% in the 3rd quarter, Holdings Channel reports. The firm owned 3,351 shares of the transportation company’s stock after purchasing an additional 3,340 shares during the period. Picton Mahoney Asset Management’s holdings in C.H. Robinson Worldwide were worth $444,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CHRW. Norges Bank acquired a new stake in C.H. Robinson Worldwide during the 2nd quarter worth $118,976,000. Boston Partners raised its position in shares of C.H. Robinson Worldwide by 53.0% in the second quarter. Boston Partners now owns 3,518,118 shares of the transportation company’s stock valued at $340,646,000 after buying an additional 1,218,968 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of C.H. Robinson Worldwide in the third quarter worth about $72,929,000. Qube Research & Technologies Ltd lifted its stake in shares of C.H. Robinson Worldwide by 119.6% in the second 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 boosted its position in C.H. Robinson Worldwide by 5.7% during the second quarter. State Street Corp now owns 7,420,768 shares of the transportation company’s stock worth $716,423,000 after acquiring an additional 397,177 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

C.H. Robinson Worldwide Trading Down 2.8%

Shares of CHRW stock opened at $179.64 on Friday. C.H. Robinson Worldwide, Inc. has a 1-year low of $84.68 and a 1-year high of $203.34. The firm has a market cap of $21.31 billion, a PE ratio of 37.19, a price-to-earnings-growth ratio of 1.89 and a beta of 0.90. The company has a 50-day moving average of $180.33 and a two-hundred day moving average of $155.30. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.53 and a quick ratio of 1.53.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its quarterly earnings results on Wednesday, January 28th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the previous year, the firm earned $1.21 EPS. The business’s revenue was down 6.5% on a year-over-year basis. On average, analysts predict that C.H. Robinson Worldwide, Inc. will post 4.83 EPS for the current year.

C.H. Robinson Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Friday, March 6th will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $2.52 dividend on an annualized basis and a yield of 1.4%. C.H. Robinson Worldwide’s payout ratio is presently 52.17%.

Analysts Set New Price Targets

CHRW has been the subject of several research reports. Benchmark upped their price objective on shares of C.H. Robinson Worldwide from $160.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. BMO Capital Markets reissued a “market perform” rating and issued a $180.00 price objective on shares of C.H. Robinson Worldwide in a report on Thursday, January 29th. Susquehanna raised their price objective on shares of C.H. Robinson Worldwide from $210.00 to $220.00 and gave the stock a “positive” rating in a research report on Thursday, January 29th. Citigroup boosted their target price on shares of C.H. Robinson Worldwide from $177.00 to $202.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Finally, Truist Financial lifted their price target on shares of C.H. Robinson Worldwide from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Fifteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, C.H. Robinson Worldwide presently has an average rating of “Moderate Buy” and a consensus target price of $181.29.

Insider Activity at C.H. Robinson Worldwide

In other news, insider Michael D. Castagnetto sold 2,849 shares of C.H. Robinson Worldwide stock in a transaction on 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. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael John Short sold 6,368 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $201.30, for a total value of $1,281,878.40. Following the completion of the sale, the insider owned 52,101 shares in the company, valued at $10,487,931.30. This represents a 10.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders acquired 2,422 shares of company stock valued at $400,801 and sold 21,416 shares valued at $4,157,630. 1.47% of the stock is currently owned by company insiders.

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.