Bank of New York Mellon Corp Cuts Holdings in C.H. Robinson Worldwide, Inc. $CHRW

Key Points

• Bank of New York Mellon Corp cut its stake in C.H. Robinson Worldwide by 35.3% in the first quarter, selling 526,247 shares and leaving it with 964,450 shares valued at about $160.2 million.
• Despite the sale, institutional ownership remains high, with 93.15% of CHRW held by hedge funds and other institutional investors.
• Analysts remain generally constructive: CHRW has a Moderate Buy consensus rating, with a consensus price target of $198.62, while the stock recently traded around $208.50 after beating last quarter’s EPS estimate.

Bank of New York Mellon Corp lowered its holdings in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 35.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 964,450 shares of the transportation company's stock after selling 526,247 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.82% of C.H. Robinson Worldwide worth $160,166,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Bank of Jackson Hole Trust acquired a new stake in shares of C.H. Robinson Worldwide in the fourth quarter valued at about $25,000. Millstone Evans Group LLC raised its position in shares of C.H. Robinson Worldwide by 79.8% during the 1st quarter. Millstone Evans Group LLC now owns 160 shares of the transportation company's stock worth $27,000 after purchasing an additional 71 shares during the last quarter. DV Equities LLC purchased a new position in C.H. Robinson Worldwide in the 4th quarter valued at about $27,000. CYBER HORNET ETFs LLC purchased a new position in C.H. Robinson Worldwide in the 2nd quarter valued at about $30,000. Finally, Bayban acquired a new stake in C.H. Robinson Worldwide in the 4th quarter worth about $32,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Susquehanna raised their target price on C.H. Robinson Worldwide from $215.00 to $226.00 and gave the company a "positive" rating in a research report on Tuesday, July 14th. Raymond James Financial dropped their price target on C.H. Robinson Worldwide from $210.00 to $203.00 and set an "outperform" rating for the company in a research report on Thursday, July 2nd. Citizens Jmp began coverage on C.H. Robinson Worldwide in a research note on Wednesday, July 15th. They issued a "market perform" rating and a $235.00 price objective for the company. BMO Capital Markets raised their price objective on C.H. Robinson Worldwide from $180.00 to $190.00 and gave the company a "market perform" rating in a report on Monday, July 13th. Finally, Weiss Ratings lowered C.H. Robinson Worldwide from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, May 21st. Seventeen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, C.H. Robinson Worldwide currently has a consensus rating of "Moderate Buy" and a consensus price target of $198.62.

C.H. Robinson Worldwide Price Performance

Shares of CHRW opened at $208.50 on Monday. C.H. Robinson Worldwide, Inc. has a 52-week low of $96.27 and a 52-week high of $208.83. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.79. The stock has a fifty day simple moving average of $183.71 and a two-hundred day simple moving average of $179.46. The company has a market capitalization of $24.58 billion, a PE ratio of 42.21, a price-to-earnings-growth ratio of 1.80 and a beta of 0.91.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last posted its earnings results on Wednesday, April 29th. The transportation company reported $1.35 EPS for the quarter, beating analysts' consensus estimates of $1.24 by $0.11. The company had revenue of $4.01 billion for the quarter, compared to analysts' expectations of $4.05 billion. C.H. Robinson Worldwide had a net margin of 3.70% and a return on equity of 35.49%. C.H. Robinson Worldwide's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.17 earnings per share. As a group, equities analysts forecast that C.H. Robinson Worldwide, Inc. will post 6.11 EPS for the current year.

C.H. Robinson Worldwide Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th were paid a $0.63 dividend. The ex-dividend date was Friday, June 5th. This represents a $2.52 annualized dividend and a dividend yield of 1.2%. C.H. Robinson Worldwide's payout ratio is 51.01%.

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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