Norges Bank purchased a new position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,472,165 shares of the transportation company’s stock, valued at approximately $236,665,000. Norges Bank owned about 1.25% of C.H. Robinson Worldwide at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in CHRW. Wellington Management Group LLP raised its holdings in shares of C.H. Robinson Worldwide by 198.6% in the third quarter. Wellington Management Group LLP now owns 7,143,297 shares of the transportation company’s stock worth $945,773,000 after buying an additional 4,751,034 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 $72,929,000. William Blair Investment Management LLC purchased a new position in shares of C.H. Robinson Worldwide in the fourth quarter worth $70,333,000. Raymond James Financial Inc. raised its holdings in shares of C.H. Robinson Worldwide by 68.5% in the third quarter. Raymond James Financial Inc. now owns 1,051,312 shares of the transportation company’s stock worth $139,194,000 after buying an additional 427,543 shares during the last quarter. Finally, Earnest Partners LLC purchased a new position in shares of C.H. Robinson Worldwide in the third quarter worth $54,313,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.
C.H. Robinson Worldwide Stock Down 0.8%
CHRW stock opened at $178.52 on Wednesday. The firm has a market cap of $21.04 billion, a PE ratio of 36.14, a P/E/G ratio of 1.55 and a beta of 0.91. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.59 and a current ratio of 1.59. The firm’s fifty day moving average is $172.89 and its 200 day moving average is $172.08. C.H. Robinson Worldwide, Inc. has a one year low of $92.36 and a one year high of $203.34.
C.H. Robinson Worldwide Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 5th will be given a $0.63 dividend. The ex-dividend date is Friday, June 5th. This represents a $2.52 annualized dividend and a dividend yield of 1.4%. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is 51.01%.
Wall Street Analysts Forecast Growth
CHRW has been the subject of several recent research reports. Robert W. Baird set a $230.00 target price on shares of C.H. Robinson Worldwide in a report on Friday, May 1st. Susquehanna reduced their target price on shares of C.H. Robinson Worldwide from $220.00 to $215.00 and set a “positive” rating for the company in a report on Wednesday, April 22nd. Wells Fargo & Company raised their target price 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. Wall Street Zen cut shares of C.H. Robinson Worldwide from a “buy” rating to a “hold” rating in a report on Sunday, May 24th. Finally, TD Cowen raised their target price on shares of C.H. Robinson Worldwide from $194.00 to $196.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Seventeen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $195.65.
Read Our Latest Research Report on C.H. Robinson Worldwide
C.H. Robinson Worldwide 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.
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