C.H. Robinson Worldwide, Inc. $CHRW Shares Sold by PACK Private Wealth LLC

PACK Private Wealth LLC cut its holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 2.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,120 shares of the transportation company’s stock after selling 1,000 shares during the period. C.H. Robinson Worldwide makes up approximately 2.2% of PACK Private Wealth LLC’s investment portfolio, making the stock its 9th largest position. PACK Private Wealth LLC’s holdings in C.H. Robinson Worldwide were worth $4,233,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Boston Partners acquired a new stake in C.H. Robinson Worldwide during the first quarter worth approximately $234,304,000. Norges Bank bought a new position in C.H. Robinson Worldwide in the 2nd quarter valued at approximately $118,976,000. Bank of New York Mellon Corp increased its holdings in C.H. Robinson Worldwide by 78.3% in the second 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. Nuveen LLC bought a new position in shares of C.H. Robinson Worldwide during the first quarter worth about $40,825,000. Finally, Northern Trust Corp boosted its stake in shares of C.H. Robinson Worldwide by 30.3% in the 1st quarter. Northern Trust Corp now owns 1,703,059 shares of the transportation company’s stock valued at $174,393,000 after purchasing an additional 396,264 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CHRW. BMO Capital Markets restated a “market perform” rating and issued a $140.00 target price on shares of C.H. Robinson Worldwide in a research note on Thursday, October 30th. Bank of America lifted their price target on shares of C.H. Robinson Worldwide from $120.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, August 22nd. Morgan Stanley increased their target price on shares of C.H. Robinson Worldwide from $71.00 to $77.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Wells Fargo & Company lifted their price target on C.H. Robinson Worldwide from $155.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, Benchmark reissued a “buy” rating on shares of C.H. Robinson Worldwide in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.00.

Insider Buying and Selling

In other news, insider Angela K. Freeman sold 49,884 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $149.71, for a total value of $7,468,133.64. Following the transaction, the insider owned 65,728 shares in the company, valued at approximately $9,840,138.88. This trade represents a 43.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael D. Castagnetto sold 45,266 shares of C.H. Robinson Worldwide stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $151.70, for a total transaction of $6,866,852.20. Following the completion of the transaction, the insider directly owned 34,046 shares in the company, valued at approximately $5,164,778.20. The trade was a 57.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.47% of the stock is owned by insiders.

C.H. Robinson Worldwide Price Performance

Shares of NASDAQ:CHRW opened at $158.96 on Friday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.52. The stock has a market cap of $18.78 billion, a PE ratio of 32.24, a PEG ratio of 1.79 and a beta of 0.88. The company’s fifty day moving average is $140.32 and its 200 day moving average is $119.41. C.H. Robinson Worldwide, Inc. has a 52 week low of $84.68 and a 52 week high of $160.30.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.11. C.H. Robinson Worldwide had a net margin of 3.64% and a return on equity of 35.32%. The business had revenue of $4.14 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same period in the prior year, the business posted $1.28 earnings per share. The company’s revenue was down 10.9% on a year-over-year basis. Research analysts anticipate that C.H. Robinson Worldwide, Inc. will post 4.83 earnings per share for the current year.

C.H. Robinson Worldwide Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 5th will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, December 5th. This represents a $2.52 annualized dividend and a yield of 1.6%. This is a boost from C.H. Robinson Worldwide’s previous quarterly dividend of $0.62. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is currently 51.12%.

C.H. Robinson Worldwide Profile

C.H. Robinson Worldwide, Inc, together with its subsidiaries, provides freight transportation services, and related logistics and supply chain services in the United States and internationally. It operates through two segments: North American Surface Transportation and Global Forwarding. The company offers transportation and logistics services, such as truckload, less than truckload transportation brokerage services, which include the shipment of single or multiple pallets of freight; intermodal transportation that comprises the shipment service of freight in containers or trailers by a combination of truck and rail; and non-vessel operating common carrier and freight forwarding services, as well as organizes air shipments and provides door-to-door services.