C.H. Robinson Worldwide, Inc. $CHRW Holdings Boosted by Hennessy Advisors Inc.

Key Points

• Hennessy Advisors increased its C.H. Robinson stake by 17.6% in the second quarter to 338,638 shares valued at approximately $63.8 million. Institutional investors collectively own 93.15% of the company.
• C.H. Robinson reported quarterly EPS of $1.61, beating estimates of $1.53, while revenue rose 19.3% year over year to $4.93 billion. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $197.
• The company declared a quarterly dividend of $0.63 per share, representing an annualized payout of $2.52 and a 1.7% yield. Shares opened at $150.39, well below their 52-week high of $210.33.

Hennessy Advisors Inc. grew its stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 17.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 338,638 shares of the transportation company's stock after purchasing an additional 50,638 shares during the quarter. C.H. Robinson Worldwide makes up 2.0% of Hennessy Advisors Inc.'s holdings, making the stock its 7th biggest position. Hennessy Advisors Inc. owned about 0.29% of C.H. Robinson Worldwide worth $63,779,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Greenleaf Trust raised its position in shares of C.H. Robinson Worldwide by 1.7% during the 2nd quarter. Greenleaf Trust now owns 6,122 shares of the transportation company's stock worth $1,153,000 after purchasing an additional 100 shares during the last quarter. New Mexico Educational Retirement Board boosted its holdings in C.H. Robinson Worldwide by 7.3% in the 2nd quarter. New Mexico Educational Retirement Board now owns 5,879 shares of the transportation company's stock worth $1,107,000 after buying an additional 400 shares during the last quarter. Mufg Securities Americas Inc. boosted its holdings in C.H. Robinson Worldwide by 8.2% in the 2nd quarter. Mufg Securities Americas Inc. now owns 3,550 shares of the transportation company's stock worth $669,000 after buying an additional 268 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in C.H. Robinson Worldwide during the 2nd quarter worth approximately $94,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in C.H. Robinson Worldwide during the 2nd quarter worth approximately $6,859,000. Hedge funds and other institutional investors own 93.15% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Citizens Jmp initiated coverage on C.H. Robinson Worldwide in a research report on Wednesday, July 15th. They issued a "market perform" rating and a $235.00 target price on the stock. Truist Financial upped their target price on shares of C.H. Robinson Worldwide from $210.00 to $215.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. Stephens decreased their price target on shares of C.H. Robinson Worldwide from $225.00 to $215.00 and set an "overweight" rating on the stock in a research note on Thursday, July 30th. Susquehanna upped their price objective on shares of C.H. Robinson Worldwide from $215.00 to $226.00 and gave the company a "positive" rating in a research note on Tuesday, July 14th. Finally, Wolfe Research set a $196.00 price objective on shares of C.H. Robinson Worldwide in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $197.00.

C.H. Robinson Worldwide Stock Down 0.5%

NASDAQ CHRW opened at $150.39 on Friday. The business's fifty day simple moving average is $171.72 and its 200-day simple moving average is $175.47. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.04. The firm has a market cap of $17.57 billion, a PE ratio of 28.70, a P/E/G ratio of 1.27 and a beta of 0.94. C.H. Robinson Worldwide, Inc. has a 52 week low of $123.64 and a 52 week high of $210.33.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.61 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.93 billion during the quarter, compared to analysts' expectations of $4.35 billion. During the same period last year, the business earned $1.29 earnings per share. C.H. Robinson Worldwide's revenue was up 19.3% compared to the same quarter last year. As a group, equities analysts anticipate that C.H. Robinson Worldwide, Inc. will post 6.18 earnings per share for the current year.

C.H. Robinson Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 4th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, September 4th. C.H. Robinson Worldwide's payout ratio is presently 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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