Allspring Global Investments Holdings LLC Cuts Holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Allspring Global Investments Holdings LLC lowered its holdings in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 59.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 70,358 shares of the transportation company's stock after selling 103,116 shares during the period. Allspring Global Investments Holdings LLC owned about 0.06% of C.H. Robinson Worldwide worth $7,230,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CHRW. Proficio Capital Partners LLC bought a new position in shares of C.H. Robinson Worldwide during the fourth quarter valued at $33,000. State of Michigan Retirement System raised its stake in shares of C.H. Robinson Worldwide by 0.6% during the fourth quarter. State of Michigan Retirement System now owns 32,092 shares of the transportation company's stock valued at $3,316,000 after acquiring an additional 200 shares during the last quarter. Keybank National Association OH bought a new position in shares of C.H. Robinson Worldwide during the fourth quarter valued at $307,000. Victory Capital Management Inc. raised its stake in shares of C.H. Robinson Worldwide by 93.4% during the fourth quarter. Victory Capital Management Inc. now owns 62,201 shares of the transportation company's stock valued at $6,427,000 after acquiring an additional 30,043 shares during the last quarter. Finally, M&T Bank Corp raised its stake in shares of C.H. Robinson Worldwide by 31.5% during the fourth quarter. M&T Bank Corp now owns 8,569 shares of the transportation company's stock valued at $886,000 after acquiring an additional 2,052 shares during the last quarter. Institutional investors own 93.15% of the company's stock.

Insider Activity

In other news, insider Angela K. Freeman sold 5,700 shares of C.H. Robinson Worldwide stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $97.42, for a total transaction of $555,294.00. Following the completion of the transaction, the insider directly owned 71,441 shares in the company, valued at $6,959,782.22. This trade represents a 7.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.91% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CHRW. Bank of America raised their price target on shares of C.H. Robinson Worldwide from $106.00 to $117.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Wolfe Research raised shares of 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 research note on Tuesday, July 1st. Truist Financial assumed coverage on shares of C.H. Robinson Worldwide in a research note on Thursday, March 13th. They set a "buy" rating and a $115.00 target price for the company. Wells Fargo & Company lowered their target price on shares of C.H. Robinson Worldwide from $130.00 to $125.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Finally, 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $113.64.

C.H. Robinson Worldwide Stock Up 1.7%

Shares of NASDAQ CHRW traded up $1.60 during mid-day trading on Tuesday, reaching $98.33. 1,216,746 shares of the company's stock traded hands, compared to its average volume of 1,302,114. The stock has a market cap of $11.67 billion, a P/E ratio of 23.52, a PEG ratio of 1.58 and a beta of 0.89. The business has a 50-day simple moving average of $95.02 and a 200 day simple moving average of $97.63. C.H. Robinson Worldwide, Inc. has a 1-year low of $84.24 and a 1-year high of $114.82. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The transportation company reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.15. The firm had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.29 billion. C.H. Robinson Worldwide had a net margin of 2.93% and a return on equity of 35.37%. The business's revenue was down 8.3% on a year-over-year basis. During the same period last year, the company earned $0.86 earnings per share. On average, analysts expect 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 was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Friday, June 6th. C.H. Robinson Worldwide's dividend payout ratio is currently 59.33%.

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.