C.H. Robinson Worldwide, Inc. $CHRW Shares Sold by First Trust Advisors LP

Key Points

• First Trust Advisors LP reduced its stake in C.H. Robinson Worldwide by 12.2% in the first quarter, selling 228,821 shares. It still held 1,643,687 shares valued at about $273 million at quarter-end.
• Several other institutional investors adjusted their positions, and 93.15% of the stock is owned by institutions and hedge funds. Goldman Sachs increased its stake, while others such as Woodline Partners LP also boosted holdings.
• Analysts remain generally upbeat on CHRW, with a consensus rating of “Moderate Buy” and an average target price of $199.46. The stock recently traded above that average at $207.35 and has risen near its 52-week high.

First Trust Advisors LP cut its stake in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 12.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,643,687 shares of the transportation company's stock after selling 228,821 shares during the quarter. First Trust Advisors LP owned 1.39% of C.H. Robinson Worldwide worth $272,967,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Goldman Sachs Group Inc. boosted its position in shares of C.H. Robinson Worldwide by 3.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 804,215 shares of the transportation company's stock valued at $82,352,000 after purchasing an additional 24,788 shares during the period. United Services Automobile Association purchased a new position in C.H. Robinson Worldwide in the 1st quarter worth about $259,000. Empowered Funds LLC raised its holdings in C.H. Robinson Worldwide by 2.3% during the 1st quarter. Empowered Funds LLC now owns 15,516 shares of the transportation company's stock worth $1,589,000 after buying an additional 350 shares during the period. Woodline Partners LP lifted its stake in C.H. Robinson Worldwide by 41.3% during the first quarter. Woodline Partners LP now owns 10,029 shares of the transportation company's stock valued at $1,027,000 after buying an additional 2,930 shares in the last quarter. Finally, Focus Partners Wealth lifted its stake in C.H. Robinson Worldwide by 9.9% during the first quarter. Focus Partners Wealth now owns 3,974 shares of the transportation company's stock valued at $407,000 after buying an additional 359 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CHRW has been the subject of several recent analyst reports. Raymond James Financial decreased their target price on shares of C.H. Robinson Worldwide from $210.00 to $203.00 and set an "outperform" rating for the company in a report on Thursday, July 2nd. BMO Capital Markets upped their price target on shares of C.H. Robinson Worldwide from $180.00 to $190.00 and gave the company a "market perform" rating in a research report on Monday, July 13th. UBS Group raised their price objective on shares of C.H. Robinson Worldwide from $224.00 to $230.00 and gave the stock a "buy" rating in a research note on Monday, June 1st. Jefferies Financial Group upgraded shares of C.H. Robinson Worldwide from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $195.00 to $200.00 in a research report on Wednesday, May 20th. Finally, Citizens Jmp began coverage on shares of C.H. Robinson Worldwide in a research note on Wednesday, July 15th. They set a "market perform" rating and a $235.00 target price on the stock. Seventeen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $199.46.

C.H. Robinson Worldwide Stock Performance

CHRW stock opened at $207.35 on Thursday. The firm has a 50 day moving average of $186.16 and a two-hundred day moving average of $180.44. C.H. Robinson Worldwide, Inc. has a 12 month low of $96.89 and a 12 month high of $210.33. The company has a market capitalization of $24.44 billion, a price-to-earnings ratio of 41.97, a P/E/G ratio of 1.80 and a beta of 0.91. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.79.

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, beating analysts' consensus estimates of $1.24 by $0.11. The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm earned $1.17 EPS. As a group, equities analysts anticipate that C.H. Robinson Worldwide, Inc. will post 6.11 EPS for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, June 5th. C.H. Robinson Worldwide's dividend payout ratio (DPR) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.