C.H. Robinson Worldwide, Inc. $CHRW Shares Sold by Korea Investment CORP

Key Points

• Korea Investment CORP cut its stake in C.H. Robinson by 61.8% in Q3, selling 29,245 shares and leaving 18,107 shares worth $2.397 million.
• Other large moves include Norges Bank establishing a new position (~$119M) and Boston Partners boosting its holding to 3.52M shares (≈$340.6M); institutional investors now own about 93.15% of CHRW stock.
• Analysts have a consensus rating of Moderate Buy with a $181.29 average price target; CHRW beat EPS estimates for the quarter despite a 6.5% revenue decline and announced a $0.63 quarterly dividend (1.5% yield).

Korea Investment CORP reduced its position in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 61.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,107 shares of the transportation company's stock after selling 29,245 shares during the quarter. Korea Investment CORP's holdings in C.H. Robinson Worldwide were worth $2,397,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CHRW. Norges Bank purchased a new position in C.H. Robinson Worldwide during the second quarter worth approximately $118,976,000. Boston Partners increased its position in shares of C.H. Robinson Worldwide by 53.0% in the second quarter. Boston Partners now owns 3,518,118 shares of the transportation company's stock valued at $340,646,000 after buying an additional 1,218,968 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of C.H. Robinson Worldwide during the 3rd quarter worth approximately $72,929,000. Qube Research & Technologies Ltd raised its stake in shares of C.H. Robinson Worldwide by 119.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 793,841 shares of the transportation company's stock worth $76,169,000 after buying an additional 432,406 shares during the period. Finally, State Street Corp lifted its position in shares of 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 buying an additional 397,177 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at C.H. Robinson Worldwide

In related news, insider Arun Rajan purchased 605 shares of the business's stock in a transaction that occurred on Thursday, February 12th. The stock was purchased at an average price of $167.11 per share, with a total value of $101,101.55. Following the completion of the acquisition, the insider owned 133,656 shares in the company, valued at $22,335,254.16. This trade represents a 0.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael John Short sold 6,368 shares of C.H. Robinson Worldwide stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $201.30, for a total value of $1,281,878.40. Following the transaction, the insider owned 52,101 shares in the company, valued at approximately $10,487,931.30. The trade was a 10.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have acquired 2,422 shares of company stock valued at $400,801 and have sold 21,416 shares valued at $4,157,630. Company insiders own 1.47% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CHRW shares. Evercore lifted their price target on shares of C.H. Robinson Worldwide from $196.00 to $219.00 and gave the company an "outperform" rating in a research note on Thursday, January 29th. Morgan Stanley increased their price objective on shares of C.H. Robinson Worldwide from $85.00 to $90.00 and gave the company an "underweight" rating in a report on Thursday, January 29th. Bank of America lifted their target price on shares of C.H. Robinson Worldwide from $167.00 to $182.00 and gave the company a "buy" rating in a research report on Wednesday, December 24th. Wolfe Research reissued an "outperform" rating and set a $188.00 target price on shares of C.H. Robinson Worldwide in a research note on Thursday, January 8th. Finally, UBS Group set a $160.00 price target on shares of C.H. Robinson Worldwide in a research note on Thursday, January 29th. Fifteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $181.29.

C.H. Robinson Worldwide Price Performance

C.H. Robinson Worldwide stock opened at $171.86 on Friday. The company has a fifty day simple moving average of $181.49 and a 200-day simple moving average of $156.56. The firm has a market capitalization of $20.39 billion, a price-to-earnings ratio of 35.58, a PEG ratio of 1.85 and a beta of 0.90. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.59. C.H. Robinson Worldwide, Inc. has a 52-week low of $84.68 and a 52-week high of $203.34.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last posted its quarterly earnings results on Wednesday, January 28th. The transportation company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.11. C.H. Robinson Worldwide had a net margin of 3.62% and a return on equity of 34.24%. The firm had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same period last year, the firm posted $1.21 earnings per share. The company's revenue for the quarter was down 6.5% on a year-over-year basis. On average, equities analysts anticipate that C.H. Robinson Worldwide, Inc. will post 4.83 EPS for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Friday, March 6th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, March 6th. C.H. Robinson Worldwide's payout ratio is currently 52.17%.

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.

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