C.H. Robinson Worldwide, Inc. $CHRW is First Eagle Investment Management LLC's 9th Largest Position

Key Points

• First Eagle Investment Management reduced its C.H. Robinson Worldwide stake by 14.1% in the fourth quarter, but the stock remains its 9th-largest holding and still represents 2.6% of its portfolio.
• C.H. Robinson reported better-than-expected quarterly earnings of $1.35 per share, though revenue came in slightly below estimates at $4.01 billion and was down 0.9% from a year earlier.
• The company announced a quarterly dividend of $0.63 per share and continues to draw mostly bullish analyst sentiment, with a consensus rating of “Moderate Buy” and an average price target of $192.27.

First Eagle Investment Management LLC cut its stake in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 14.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,074,016 shares of the transportation company's stock after selling 1,490,983 shares during the period. C.H. Robinson Worldwide makes up 2.6% of First Eagle Investment Management LLC's investment portfolio, making the stock its 9th biggest holding. First Eagle Investment Management LLC owned 7.68% of C.H. Robinson Worldwide worth $1,458,739,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CHRW. Wellington Management Group LLP raised its stake in C.H. Robinson Worldwide by 198.6% during the 3rd quarter. Wellington Management Group LLP now owns 7,143,297 shares of the transportation company's stock valued at $945,773,000 after acquiring an additional 4,751,034 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in C.H. Robinson Worldwide during the 3rd quarter valued at approximately $72,929,000. Raymond James Financial Inc. raised its stake in C.H. Robinson Worldwide by 68.5% during the 3rd quarter. Raymond James Financial Inc. now owns 1,051,312 shares of the transportation company's stock valued at $139,194,000 after acquiring an additional 427,543 shares during the last quarter. Earnest Partners LLC purchased a new stake in C.H. Robinson Worldwide during the 3rd quarter valued at approximately $54,313,000. Finally, State Street Corp raised its stake in C.H. Robinson Worldwide by 5.7% during the 2nd quarter. State Street Corp now owns 7,420,768 shares of the transportation company's stock valued at $716,423,000 after acquiring an additional 397,177 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. TD Cowen upped their price objective on C.H. Robinson Worldwide from $194.00 to $196.00 and gave the company a "hold" rating in a research note on Thursday, April 30th. Wells Fargo & Company boosted their target price on C.H. Robinson Worldwide from $210.00 to $215.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Loop Capital set a $206.00 target price on C.H. Robinson Worldwide in a research report on Monday, February 2nd. Barclays boosted their target price on C.H. Robinson Worldwide from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Finally, Truist Financial boosted their target price on C.H. Robinson Worldwide from $190.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, January 29th. Sixteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $192.27.

C.H. Robinson Worldwide Stock Performance

CHRW opened at $169.98 on Tuesday. The stock has a market cap of $20.04 billion, a P/E ratio of 34.41, a P/E/G ratio of 1.71 and a beta of 0.94. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.59 and a quick ratio of 1.59. The stock's 50 day simple moving average is $174.70 and its 200 day simple moving average is $168.84. C.H. Robinson Worldwide, Inc. has a 1-year low of $92.36 and a 1-year high of $203.34.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.35 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.11. The business had revenue of $4.01 billion for the quarter, compared to analysts' expectations of $4.05 billion. C.H. Robinson Worldwide had a return on equity of 35.49% and a net margin of 3.70%.The company's revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.17 EPS. As a group, equities analysts anticipate that C.H. Robinson Worldwide, Inc. will post 6.07 EPS for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 5th will be issued a $0.63 dividend. The ex-dividend date is Friday, June 5th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.5%. C.H. Robinson Worldwide's dividend payout ratio is currently 51.01%.

Insider Buying and Selling

In other news, insider Michael D. Castagnetto purchased 594 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were acquired at an average price of $168.24 per share, for a total transaction of $99,934.56. Following the acquisition, the insider directly owned 35,488 shares in the company, valued at approximately $5,970,501.12. The trade was a 1.70% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David P. Bozeman purchased 1,223 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was purchased at an average price of $163.34 per share, for a total transaction of $199,764.82. Following the acquisition, the chief executive officer owned 190,600 shares in the company, valued at approximately $31,132,604. This trade represents a 0.65% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 2,422 shares of company stock worth $400,801 in the last quarter. Company insiders own 0.37% of the company's stock.

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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