C.H. Robinson Worldwide (NASDAQ:CHRW) Sets New 52-Week High – Here’s Why

C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $177.06 and last traded at $177.0530, with a volume of 486901 shares trading hands. The stock had previously closed at $175.77.

Analyst Ratings Changes

A number of research firms have recently commented on CHRW. Evercore ISI increased their price target on shares of C.H. Robinson Worldwide from $175.00 to $196.00 and gave the company an “outperform” rating in a report on Monday, January 12th. Deutsche Bank Aktiengesellschaft upped their price objective on C.H. Robinson Worldwide from $124.00 to $159.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. The Goldman Sachs Group reissued a “neutral” rating and issued a $149.00 target price on shares of C.H. Robinson Worldwide in a report on Wednesday, January 14th. Sanford C. Bernstein upped their price target on C.H. Robinson Worldwide from $135.00 to $153.00 and gave the company a “market perform” rating in a report on Friday, January 9th. Finally, Wells Fargo & Company lifted their price objective on C.H. Robinson Worldwide from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, C.H. Robinson Worldwide has a consensus rating of “Moderate Buy” and an average target price of $163.65.

C.H. Robinson Worldwide Stock Performance

The business has a 50-day moving average of $161.14 and a 200 day moving average of $136.81. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.59 and a quick ratio of 1.59. The company has a market cap of $20.69 billion, a PE ratio of 35.52, a PEG ratio of 1.91 and a beta of 0.91.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.11. C.H. Robinson Worldwide had a return on equity of 34.77% and a net margin of 3.64%.The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same period in the previous year, the company posted $1.28 EPS. The business’s quarterly revenue was down 10.9% compared to the same quarter last year. Equities research analysts anticipate that C.H. Robinson Worldwide, Inc. will post 4.83 EPS for the current fiscal year.

C.H. Robinson Worldwide Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Friday, December 5th were issued a dividend of $0.63 per share. This is an increase from C.H. Robinson Worldwide’s previous quarterly dividend of $0.62. This represents a $2.52 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, December 5th. C.H. Robinson Worldwide’s dividend payout ratio is currently 51.12%.

Insider Transactions at C.H. Robinson Worldwide

In other news, insider Michael John Short sold 2,390 shares of the business’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $161.91, for a total transaction of $386,964.90. Following the completion of the sale, the insider owned 55,158 shares of the company’s stock, valued at $8,930,631.78. The trade was a 4.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Angela K. Freeman sold 49,884 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $149.71, for a total value of $7,468,133.64. Following the completion of the sale, the insider owned 65,728 shares of the company’s stock, valued at $9,840,138.88. This trade represents a 43.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 97,540 shares of company stock worth $14,721,951 in the last 90 days. 0.91% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in C.H. Robinson Worldwide by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 14,642,930 shares of the transportation company’s stock valued at $1,404,989,000 after buying an additional 56,549 shares in the last quarter. State Street Corp boosted its position in shares of 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. Wellington Management Group LLP grew its stake in C.H. Robinson Worldwide by 198.6% during the third quarter. Wellington Management Group LLP now owns 7,143,297 shares of the transportation company’s stock valued at $945,773,000 after acquiring an additional 4,751,034 shares in the last quarter. Boston Partners increased its holdings in C.H. Robinson Worldwide by 6.1% in the 3rd quarter. Boston Partners now owns 3,731,363 shares of the transportation company’s stock valued at $494,372,000 after acquiring an additional 213,245 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in C.H. Robinson Worldwide by 5.1% in the 2nd quarter. Invesco Ltd. now owns 2,402,945 shares of the transportation company’s stock worth $230,563,000 after purchasing an additional 117,222 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

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.