Bank of New York Mellon Corp Invests $172.63 Million in C.H. Robinson Worldwide, Inc. $CHRW

Bank of New York Mellon Corp purchased a new stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 916,567 shares of the transportation company's stock, valued at approximately $172,626,000. Bank of New York Mellon Corp owned approximately 0.78% of C.H. Robinson Worldwide at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Argent Capital Management LLC bought a new position in C.H. Robinson Worldwide in the 1st quarter valued at approximately $5,017,000. Amundi boosted its position in C.H. Robinson Worldwide by 24.7% during the 1st quarter. Amundi now owns 338,574 shares of the transportation company's stock worth $56,227,000 after buying an additional 67,108 shares during the period. New York State Teachers Retirement System grew its holdings in C.H. Robinson Worldwide by 6.0% during the 4th quarter. New York State Teachers Retirement System now owns 104,269 shares of the transportation company's stock worth $16,762,000 after acquiring an additional 5,877 shares during the last quarter. Empowered Funds LLC increased its position in C.H. Robinson Worldwide by 469.4% in the 1st quarter. Empowered Funds LLC now owns 66,724 shares of the transportation company's stock valued at $11,081,000 after acquiring an additional 55,005 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in C.H. Robinson Worldwide in the 1st quarter valued at approximately $10,997,000. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Stephens lowered their target price on C.H. Robinson Worldwide from $225.00 to $215.00 and set an "overweight" rating for the company in a research report on Thursday, July 30th. Citizens Jmp began coverage on C.H. Robinson Worldwide in a research report on Wednesday, July 15th. They issued a "market perform" rating and a $235.00 price target on the stock. TD Cowen decreased their price target on C.H. Robinson Worldwide from $155.00 to $152.00 and set a "hold" rating for the company in a research note on Tuesday, July 28th. Wall Street Zen upgraded C.H. Robinson Worldwide from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. Finally, Truist Financial lifted their price objective on C.H. Robinson Worldwide from $210.00 to $215.00 and gave the stock a "buy" rating in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, C.H. Robinson Worldwide presently has a consensus rating of "Moderate Buy" and an average target price of $197.00.

C.H. Robinson Worldwide Trading Down 1.5%

NASDAQ CHRW opened at $141.63 on Friday. The business has a 50 day simple moving average of $175.63 and a 200 day simple moving average of $177.25. C.H. Robinson Worldwide, Inc. has a one year low of $122.50 and a one year high of $210.33. The stock has a market capitalization of $16.55 billion, a P/E ratio of 27.03, a P/E/G ratio of 1.20 and a beta of 0.94. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.58 and a quick ratio of 1.58.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $4.93 billion for the quarter, compared to analyst estimates of $4.35 billion. C.H. Robinson Worldwide had a return on equity of 38.36% and a net margin of 3.73%.The company's revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.29 earnings per share. Research analysts expect that C.H. Robinson Worldwide, Inc. will post 6.18 earnings per share for the current year.

C.H. Robinson Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 4th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, September 4th. C.H. Robinson Worldwide's dividend payout ratio is currently 48.09%.

About C.H. Robinson Worldwide

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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