C.H. Robinson Worldwide (NASDAQ:CHRW) Hits New 52-Week 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) 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 trading hands. The stock had previously closed at $122.80.

Other equities analysts have also recently issued research reports about the company. Citigroup lifted their target price on C.H. Robinson Worldwide from $116.00 to $118.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. UBS Group reiterated a "buy" rating and issued a $133.00 target price (up previously from $129.00) on shares of C.H. Robinson Worldwide in a report on Thursday, July 31st. Wolfe Research upgraded C.H. Robinson Worldwide from a "peer perform" rating to an "outperform" rating and set a $112.00 target price for the company in a report on Tuesday, July 1st. TD Securities lifted their target price on C.H. Robinson Worldwide from $111.00 to $112.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company lifted their target price on C.H. Robinson Worldwide from $125.00 to $127.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, C.H. Robinson Worldwide presently has a consensus rating of "Moderate Buy" and a consensus price target of $117.24.

Insider Buying and Selling

In other C.H. Robinson Worldwide news, insider Angela K. Freeman sold 5,713 shares of C.H. Robinson Worldwide stock in a transaction on Monday, August 11th. The stock was sold at an average price of $116.24, for a total transaction of $664,079.12. Following the completion of the sale, the insider directly owned 65,728 shares of the company's stock, valued at $7,640,222.72. The trade was a 8.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Arun Rajan sold 2,500 shares of C.H. Robinson Worldwide stock in a transaction on Friday, August 15th. The shares were sold at an average price of $121.74, for a total value of $304,350.00. Following the sale, the insider directly owned 130,591 shares of the company's stock, valued at approximately $15,898,148.34. This trade represents a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,577 shares of company stock valued at $1,714,544. Insiders own 0.91% of the company's stock.

Institutional Investors Weigh In On C.H. Robinson Worldwide

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position 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 purchasing an additional 56,549 shares in the last quarter. State Street Corp raised its position in C.H. Robinson Worldwide by 5.7% during the 2nd quarter. State Street Corp now owns 7,420,768 shares of the transportation company's stock valued at $716,423,000 after purchasing an additional 397,177 shares in the last quarter. Boston Partners raised its position 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 valued at $340,646,000 after purchasing an additional 1,218,968 shares in the last quarter. Invesco Ltd. raised its position in C.H. Robinson Worldwide by 5.1% during the 2nd quarter. Invesco Ltd. now owns 2,402,945 shares of the transportation company's stock valued at $230,563,000 after purchasing an additional 117,222 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in C.H. Robinson Worldwide by 78.3% during the 2nd 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 purchasing an additional 884,160 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

C.H. Robinson Worldwide Trading Up 0.1%

The stock has a market capitalization of $14.80 billion, a P/E ratio of 28.55, a price-to-earnings-growth ratio of 1.96 and a beta of 0.86. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average price of $104.78 and a 200 day moving average price of $99.01.

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 EPS for the quarter, topping the consensus estimate of $1.17 by $0.12. The firm had revenue of $4.14 billion during the quarter, compared to analyst estimates of $4.16 billion. C.H. Robinson Worldwide had a return on equity of 35.01% and a net margin of 3.14%.The business's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.15 EPS. On average, research analysts forecast that C.H. Robinson Worldwide, Inc. will post 4.83 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, September 5th. C.H. Robinson Worldwide's payout ratio 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.

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