Bank of America Corp DE Grows Stake in C.H. Robinson Worldwide, Inc. $CHRW

Bank of America Corp DE increased its position in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,055,602 shares of the transportation company's stock after purchasing an additional 127,103 shares during the quarter. Bank of America Corp DE owned 0.90% of C.H. Robinson Worldwide worth $175,304,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in C.H. Robinson Worldwide by 198.6% during the third quarter. Wellington Management Group LLP now owns 7,143,297 shares of the transportation company's stock worth $945,773,000 after acquiring an additional 4,751,034 shares during the last quarter. WCM Investment Management LLC purchased a new stake in shares of C.H. Robinson Worldwide in the first quarter valued at about $579,922,000. Auto Owners Insurance Co grew its position in shares of C.H. Robinson Worldwide by 15,976.0% in the fourth quarter. Auto Owners Insurance Co now owns 1,511,144 shares of the transportation company's stock valued at $24,293,000 after purchasing an additional 1,501,744 shares during the last quarter. Norges Bank acquired a new stake in shares of C.H. Robinson Worldwide in the fourth quarter valued at approximately $236,665,000. Finally, Capital World Investors purchased a new position in shares of C.H. Robinson Worldwide during the 4th quarter worth approximately $165,976,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. UBS Group raised their price target on shares of C.H. Robinson Worldwide from $224.00 to $230.00 and gave the stock a "buy" rating in a research note on Monday, June 1st. Wolfe Research set a $196.00 price objective on shares of C.H. Robinson Worldwide in a research report on Thursday, July 30th. Janney Montgomery Scott set a $155.00 price objective on shares of C.H. Robinson Worldwide in a research note on Tuesday, July 28th. Robert W. Baird decreased their target price on shares of 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. Finally, Citizens Jmp initiated coverage on C.H. Robinson Worldwide in a report on Wednesday, July 15th. They issued a "market perform" rating and a $235.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, C.H. Robinson Worldwide presently has a consensus rating of "Moderate Buy" and an average target price of $197.08.

C.H. Robinson Worldwide Stock Performance

C.H. Robinson Worldwide stock opened at $154.75 on Wednesday. The firm has a market capitalization of $18.08 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 1.24 and a beta of 0.94. C.H. Robinson Worldwide, Inc. has a one year low of $114.64 and a one year high of $210.33. The stock's 50 day moving average price is $185.25 and its 200 day moving average price is $180.34. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.59 and a current ratio of 1.58.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.08. C.H. Robinson Worldwide had a net margin of 3.73% and a return on equity of 38.36%. The company had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same quarter last year, the company earned $1.29 earnings per share. C.H. Robinson Worldwide's revenue for the quarter was up 19.3% on a year-over-year basis. As a group, sell-side analysts expect that C.H. Robinson Worldwide, Inc. will post 6.18 EPS for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th were issued a $0.63 dividend. The ex-dividend date was Friday, June 5th. This represents a $2.52 dividend on an annualized basis and a yield of 1.6%. C.H. Robinson Worldwide's payout ratio is currently 48.09%.

C.H. Robinson Worldwide Company Profile

C.H. Robinson Worldwide, Inc is a third-party logistics provider founded in 1905 and headquartered in Eden Prairie, Minnesota. Originally established as a produce brokerage firm, the company has since expanded its offerings to become one of the world's largest freight and logistics intermediaries. C.H. Robinson leverages a global network of transportation providers, technology platforms, and in-house expertise to connect shippers and carriers across multiple modes of transportation.

The company's primary services include truckload, less-than-truckload (LTL), intermodal, air and ocean freight, and managed transportation solutions.

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