C.H. Robinson Worldwide (NASDAQ:CHRW) Sets New 12-Month High - Here's What Happened

Key Points

• C.H. Robinson Worldwide shares reached a new 52-week high of $135.51, with a trading volume of 308,219 shares.
• Analyst ratings for the stock are mostly positive, with one Strong Buy rating, fourteen Buy ratings, and a consensus target price of $117.24.
• The company reported earnings of $1.29 per share, exceeding expectations of $1.17, but experienced a decline in revenue of 7.7% year-over-year.

Shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $135.51 and last traded at $135.19, with a volume of 308219 shares trading hands. The stock had previously closed at $133.77.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays reiterated an "underweight" rating and set a $95.00 price target (up previously from $90.00) on shares of C.H. Robinson Worldwide in a research note on Thursday, July 31st. TD Cowen boosted their target price on C.H. Robinson Worldwide from $112.00 to $116.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. Robert W. Baird upgraded C.H. Robinson Worldwide from a "neutral" rating to an "outperform" rating and set a $135.00 target price on the stock in a research note on Thursday, July 31st. Raymond James Financial set a $111.00 target price on C.H. Robinson Worldwide and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Finally, Citigroup boosted their target price on C.H. Robinson Worldwide from $116.00 to $118.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. One equities research 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $117.24.

C.H. Robinson Worldwide Trading Down 0.7%

The firm has a 50-day simple moving average of $118.31 and a 200-day simple moving average of $103.30. 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 stock has a market cap of $16.07 billion, a PE ratio of 31.00, a P/E/G ratio of 2.13 and a beta of 0.87.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.12. The company had revenue of $4.14 billion during the quarter, compared to analysts' expectations 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 period in the previous year, the business earned $1.15 earnings per share. Equities analysts forecast that C.H. Robinson Worldwide, Inc. will post 4.83 earnings per share for the current year.

C.H. Robinson Worldwide Dividend Announcement

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. The ex-dividend date is Friday, September 5th. This represents a $2.48 annualized dividend and a dividend yield of 1.8%. C.H. Robinson Worldwide's payout ratio is 56.49%.

Insider Activity

In other news, insider Angela K. Freeman sold 5,713 shares of the company's 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 transaction, the insider owned 65,728 shares of the company's stock, valued at approximately $7,640,222.72. This represents a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael John Short sold 6,364 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $117.24, for a total transaction of $746,115.36. Following the completion of the transaction, the insider directly owned 60,401 shares in the company, valued at approximately $7,081,413.24. The trade was a 9.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,577 shares of company stock worth $1,714,544. 0.91% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. State of Michigan Retirement System boosted its holdings in C.H. Robinson Worldwide by 0.3% in the second quarter. State of Michigan Retirement System now owns 32,292 shares of the transportation company's stock worth $3,098,000 after purchasing an additional 100 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in C.H. Robinson Worldwide by 2.7% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,978 shares of the transportation company's stock worth $407,000 after purchasing an additional 105 shares during the last quarter. Assetmark Inc. boosted its holdings in C.H. Robinson Worldwide by 26.3% in the second quarter. Assetmark Inc. now owns 529 shares of the transportation company's stock worth $51,000 after purchasing an additional 110 shares during the last quarter. Perpetual Ltd boosted its holdings in C.H. Robinson Worldwide by 2.3% in the second quarter. Perpetual Ltd now owns 5,033 shares of the transportation company's stock worth $483,000 after purchasing an additional 112 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators boosted its stake in shares of C.H. Robinson Worldwide by 5.5% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 2,181 shares of the transportation company's stock worth $223,000 after acquiring an additional 114 shares during the last quarter. Institutional investors own 93.15% of the company's stock.

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.