Cresset Asset Management LLC Cuts Stake in C.H. Robinson Worldwide, Inc. $CHRW

Cresset Asset Management LLC decreased its stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,080,504 shares of the transportation company’s stock after selling 24,049 shares during the period. C.H. Robinson Worldwide makes up 0.5% of Cresset Asset Management LLC’s portfolio, making the stock its 27th biggest position. Cresset Asset Management LLC’s holdings in C.H. Robinson Worldwide were worth $143,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of CHRW. Jones Financial Companies Lllp boosted its holdings in C.H. Robinson Worldwide by 2.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,563 shares of the transportation company’s stock worth $338,000 after acquiring an additional 69 shares during the period. UMB Bank n.a. grew its holdings in C.H. Robinson Worldwide by 16.7% during the 3rd quarter. UMB Bank n.a. now owns 656 shares of the transportation company’s stock valued at $87,000 after purchasing an additional 94 shares in the last quarter. State of Michigan Retirement System increased its stake in C.H. Robinson Worldwide by 0.3% during the 2nd quarter. State of Michigan Retirement System now owns 32,292 shares of the transportation company’s stock worth $3,098,000 after buying an additional 100 shares during the period. Empirical Asset Management LLC lifted its holdings in C.H. Robinson Worldwide by 1.8% in the 3rd quarter. Empirical Asset Management LLC now owns 5,760 shares of the transportation company’s stock worth $763,000 after buying an additional 102 shares in the last quarter. Finally, Assetmark Inc. boosted its position in C.H. Robinson Worldwide by 26.3% in the 2nd quarter. Assetmark Inc. now owns 529 shares of the transportation company’s stock valued at $51,000 after buying an additional 110 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Angela K. Freeman sold 8,579 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $200.52, for a total value of $1,720,261.08. Following the completion of the transaction, the insider owned 55,611 shares of the company’s stock, valued at approximately $11,151,117.72. This represents a 13.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael D. Castagnetto acquired 594 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The shares were bought at an average price of $168.24 per share, for a total transaction of $99,934.56. Following the completion of the purchase, the insider owned 35,488 shares of the company’s stock, valued at approximately $5,970,501.12. This represents a 1.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 2,422 shares of company stock valued at $400,801 and have sold 21,416 shares valued at $4,157,630. 0.91% of the stock is owned by company insiders.

C.H. Robinson Worldwide Stock Performance

Shares of CHRW stock opened at $193.32 on Wednesday. The company has a market cap of $22.93 billion, a P/E ratio of 40.02, a PEG ratio of 1.97 and a beta of 0.90. The business has a 50 day moving average of $179.13 and a two-hundred day moving average of $154.23. C.H. Robinson Worldwide, Inc. has a 52 week low of $84.68 and a 52 week high of $203.34. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.59.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its quarterly earnings data 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 return on equity of 34.24% and a net margin of 3.62%.The business had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the previous year, the firm posted $1.21 EPS. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. As a group, analysts anticipate 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 is Friday, March 6th. This represents a $2.52 annualized dividend and a yield of 1.3%. C.H. Robinson Worldwide’s dividend payout ratio is 52.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CHRW. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $149.00 target price on shares of C.H. Robinson Worldwide in a research report on Wednesday, January 14th. Weiss Ratings downgraded C.H. Robinson Worldwide from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, February 17th. TD Cowen raised their price target on shares of C.H. Robinson Worldwide from $165.00 to $194.00 and gave the stock a “hold” rating in a research report on Thursday, January 29th. Benchmark increased 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. Finally, Susquehanna upped their target price on shares of C.H. Robinson Worldwide from $210.00 to $220.00 and gave the company a “positive” rating in a research note on Thursday, January 29th. Fifteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $181.29.

C.H. Robinson Worldwide Company 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.