QRG Capital Management Inc. grew its stake in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW – Free Report) by 9,753.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 248,807 shares of the transportation company’s stock after acquiring an additional 246,282 shares during the period. QRG Capital Management Inc.’s holdings in C.H. Robinson Worldwide were worth $45,031,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. boosted its holdings in C.H. Robinson Worldwide by 543.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 94,268 shares of the transportation company’s stock worth $17,177,000 after buying an additional 79,608 shares in the last quarter. Andra AP fonden increased its holdings in C.H. Robinson Worldwide by 48.8% in the second quarter. Andra AP fonden now owns 67,102 shares of the transportation company’s stock valued at $12,638,000 after buying an additional 22,020 shares in the last quarter. Anchor Investment Management LLC purchased a new position in C.H. Robinson Worldwide in the second quarter valued at about $7,762,000. Smith Chas P & Associates PA Cpas acquired a new stake in shares of C.H. Robinson Worldwide during the 2nd quarter valued at approximately $506,000. Finally, Miramontes Capital LLC purchased a new stake in shares of C.H. Robinson Worldwide during the 2nd quarter worth approximately $232,000. 93.15% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on CHRW shares. Sanford C. Bernstein lowered their price target on C.H. Robinson Worldwide from $153.00 to $151.00 and set a “market perform” rating on the stock in a report on Tuesday, August 11th. Robert W. Baird decreased their target price on C.H. Robinson Worldwide from $230.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Janney Montgomery Scott set a $155.00 target price on C.H. Robinson Worldwide in a report on Tuesday, July 28th. UBS Group raised their price target on C.H. Robinson Worldwide from $224.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Finally, Citizens Jmp began coverage on C.H. Robinson Worldwide in a research note on Wednesday, July 15th. They set a “market perform” rating and a $235.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $196.56.
C.H. Robinson Worldwide Price Performance
Shares of CHRW traded up $0.11 during mid-day trading on Wednesday, reaching $149.67. 1,267,220 shares of the company’s stock were exchanged, compared to its average volume of 1,954,676. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.04. The company has a 50-day simple moving average of $159.10 and a two-hundred day simple moving average of $171.40. C.H. Robinson Worldwide, Inc. has a 52-week low of $123.64 and a 52-week high of $210.33. The company has a market cap of $17.49 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 1.29 and a beta of 0.94.
C.H. Robinson Worldwide (NASDAQ:CHRW – Get Free Report) last posted its earnings results on Wednesday, July 29th. The transportation company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.08. The firm had revenue of $4.93 billion for the quarter, compared to analyst estimates of $4.35 billion. C.H. Robinson Worldwide had a return on equity of 38.36% and a net margin of 3.73%.C.H. Robinson Worldwide’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 EPS. On average, sell-side analysts predict that C.H. Robinson Worldwide, Inc. will post 6.18 EPS for the current fiscal year.
C.H. Robinson Worldwide Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 4th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, September 4th. C.H. Robinson Worldwide’s payout ratio is 48.09%.
C.H. Robinson Worldwide Company Profile
C.H. Robinson Worldwide, Inc is a global third-party logistics provider that connects shippers with transportation carriers and other supply-chain service providers. The company helps businesses plan, manage and execute the movement of freight across road, rail, ocean and air networks.
Its services include truckload and less-than-truckload freight brokerage, intermodal transportation, ocean and air forwarding, customs and trade compliance, transportation management, warehousing and supply-chain consulting.
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