Exchange Traded Concepts LLC Grows Stake in C.H. Robinson Worldwide, Inc. $CHRW

Key Points

• Exchange Traded Concepts LLC increased its holdings in C.H. Robinson Worldwide by 94.7%, owning 53,682 shares valued at approximately $5.15 million.
• Several large investors, including North Capital Inc. and AdvisorNet Financial Inc., have also acquired new positions in C.H. Robinson, which now sees institutional investors holding 93.15% of its stock.
• Analysts have raised their price targets for C.H. Robinson, with Bank of America increasing its target from $120 to $136, and the stock currently holds a consensus rating of "Moderate Buy".

Exchange Traded Concepts LLC raised its holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 94.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 53,682 shares of the transportation company's stock after acquiring an additional 26,108 shares during the quarter. Exchange Traded Concepts LLC's holdings in C.H. Robinson Worldwide were worth $5,151,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CHRW. Fulton Bank N.A. acquired a new stake in C.H. Robinson Worldwide in the second quarter valued at $309,000. Wealth Enhancement Advisory Services LLC boosted its holdings in C.H. Robinson Worldwide by 189.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 72,807 shares of the transportation company's stock valued at $7,137,000 after acquiring an additional 47,683 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in C.H. Robinson Worldwide by 1.0% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,690 shares of the transportation company's stock valued at $1,505,000 after purchasing an additional 154 shares during the period. Czech National Bank raised its holdings in C.H. Robinson Worldwide by 6.4% during the 2nd quarter. Czech National Bank now owns 29,022 shares of the transportation company's stock worth $2,785,000 after purchasing an additional 1,758 shares during the last quarter. Finally, Martin Capital Partners LLC lifted its position in shares of C.H. Robinson Worldwide by 194.3% in the 2nd quarter. Martin Capital Partners LLC now owns 7,238 shares of the transportation company's stock worth $695,000 after purchasing an additional 4,779 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CHRW. Citigroup lifted their target price on shares of C.H. Robinson Worldwide from $116.00 to $118.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Bank of America boosted their price target on C.H. Robinson Worldwide from $120.00 to $136.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Wells Fargo & Company increased their target price on shares of C.H. Robinson Worldwide from $125.00 to $127.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Susquehanna reaffirmed a "positive" rating and issued a $120.00 price target (up from $115.00) on shares of C.H. Robinson Worldwide in a research note on Tuesday, June 24th. Finally, Stifel Nicolaus raised their target price on C.H. Robinson Worldwide from $108.00 to $111.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $117.24.

Insiders Place Their Bets

In other news, insider Angela K. Freeman sold 5,713 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $116.24, for a total value of $664,079.12. Following the completion of the transaction, the insider directly owned 65,728 shares of the company's stock, valued at $7,640,222.72. This represents a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Arun Rajan sold 2,500 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $121.74, for a total value of $304,350.00. Following the sale, the insider directly owned 130,591 shares of the company's stock, valued at $15,898,148.34. The trade was a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,577 shares of company stock valued at $1,714,544. Corporate insiders own 0.91% of the company's stock.

C.H. Robinson Worldwide Stock Up 1.2%

CHRW traded up $1.62 during midday trading on Tuesday, reaching $135.60. 220,383 shares of the company were exchanged, compared to its average volume of 1,377,721. The company has a market cap of $16.01 billion, a price-to-earnings ratio of 30.94, a price-to-earnings-growth ratio of 2.13 and a beta of 0.87. C.H. Robinson Worldwide, Inc. has a one year low of $84.68 and a one year high of $138.00. The company's fifty day moving average price is $119.03 and its 200 day moving average price is $103.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.31 and a current ratio of 1.31.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last announced its earnings results on Wednesday, July 30th. The transportation company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.12. C.H. Robinson Worldwide had a return on equity of 35.01% and a net margin of 3.14%.The company had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $4.16 billion. During the same quarter in the previous year, the firm earned $1.15 earnings per share. C.H. Robinson Worldwide's quarterly revenue was down 7.7% on a year-over-year basis. As a group, analysts expect that C.H. Robinson Worldwide, Inc. will post 4.83 EPS for the current year.

C.H. Robinson Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, September 5th. C.H. Robinson Worldwide's dividend payout ratio (DPR) is presently 56.49%.

C.H. Robinson Worldwide Profile

C.H. Robinson Worldwide, Inc, together with its subsidiaries, provides freight transportation services, and related logistics and supply chain services in the United States and internationally. It operates through two segments: North American Surface Transportation and Global Forwarding. The company offers transportation and logistics services, such as truckload, less than truckload transportation brokerage services, which include the shipment of single or multiple pallets of freight; intermodal transportation that comprises the shipment service of freight in containers or trailers by a combination of truck and rail; and non-vessel operating common carrier and freight forwarding services, as well as organizes air shipments and provides door-to-door services.