C.H. Robinson Worldwide (NASDAQ:CHRW) Reaches New 1-Year High After Analyst Upgrade

Key Points

• C.H. Robinson Worldwide reached a new 52-week high of $126.85 after Bank of America upgraded the stock's price target from $120.00 to $136.00, maintaining a buy rating.
• Insider trading activity showed a decline in ownership, with Angela K. Freeman selling 5,713 shares and Arun Rajan selling 2,500 shares recently.
• For the latest quarter, C.H. Robinson reported an EPS of $1.29, exceeding expectations, while also declaring a quarterly dividend of $0.62 scheduled for October 2nd.

C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Get Free Report)'s share price reached a new 52-week high on Monday after Bank of America raised their price target on the stock from $120.00 to $136.00. Bank of America currently has a buy rating on the stock. C.H. Robinson Worldwide traded as high as $126.85 and last traded at $125.32, with a volume of 1577441 shares traded. The stock had previously closed at $122.80.

Several other brokerages have also commented on CHRW. Wolfe Research raised shares of C.H. Robinson Worldwide from a "peer perform" rating to an "outperform" rating and set a $112.00 price target for the company in a report on Tuesday, July 1st. TD Securities lifted their target price on shares of C.H. Robinson Worldwide from $111.00 to $112.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Evercore ISI decreased their price target on shares of C.H. Robinson Worldwide from $119.00 to $110.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Stifel Nicolaus upped their price objective on shares of C.H. Robinson Worldwide from $108.00 to $111.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of C.H. Robinson Worldwide from $118.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $117.24.

Insider Buying and Selling at C.H. Robinson Worldwide

In other news, insider Michael John Short sold 6,364 shares of C.H. Robinson Worldwide stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $117.24, for a total transaction of $746,115.36. Following the completion of the sale, the insider directly owned 60,401 shares of the company's stock, valued at approximately $7,081,413.24. The trade was a 9.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela K. Freeman sold 5,713 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $116.24, for a total value of $664,079.12. Following the completion of the transaction, the insider directly owned 65,728 shares in the company, valued at $7,640,222.72. This trade represents a 8.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,577 shares of company stock valued at $1,714,544 in the last quarter. Corporate insiders own 1.47% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CHRW. Vanguard Group Inc. boosted its holdings in C.H. Robinson Worldwide by 0.4% in the second quarter. Vanguard Group Inc. now owns 14,642,930 shares of the transportation company's stock valued at $1,404,989,000 after purchasing an additional 56,549 shares in the last quarter. State Street Corp grew its position in shares of C.H. Robinson Worldwide by 5.7% in the 2nd quarter. State Street Corp now owns 7,420,768 shares of the transportation company's stock valued at $716,423,000 after buying an additional 397,177 shares during the last quarter. Boston Partners raised its stake in C.H. Robinson Worldwide by 53.0% during the 2nd quarter. Boston Partners now owns 3,518,118 shares of the transportation company's stock worth $340,646,000 after acquiring an additional 1,218,968 shares in the last quarter. Invesco Ltd. lifted its position in C.H. Robinson Worldwide by 5.1% in the second quarter. Invesco Ltd. now owns 2,402,945 shares of the transportation company's stock valued at $230,563,000 after acquiring an additional 117,222 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position 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 acquiring an additional 884,160 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

C.H. Robinson Worldwide Stock Performance

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 company has a market cap of $15.20 billion, a PE ratio of 29.32, a price-to-earnings-growth ratio of 2.03 and a beta of 0.86. The firm has a fifty day simple moving average of $108.23 and a 200-day simple moving average of $100.01.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.12. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $4.16 billion. C.H. Robinson Worldwide had a return on equity of 35.01% and a net margin of 3.14%.The firm's quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.15 EPS. On average, research analysts forecast that C.H. Robinson Worldwide, Inc. will post 4.83 EPS for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 5th. C.H. Robinson Worldwide's dividend payout ratio (DPR) is presently 56.49%.

C.H. Robinson Worldwide Company 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.