State of New Jersey Common Pension Fund D Lowers Stock Position in C.H. Robinson Worldwide, Inc. $CHRW

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in C.H. Robinson Worldwide by 7.6%, holding 39,833 shares valued at approximately $4.08 million after selling 3,262 shares.
• Insider Michael John Short sold 6,364 shares of the company for about $746,115, representing a 9.53% decrease in his ownership, while total insider sales for the quarter reached approximately $1.71 million.
• C.H. Robinson reported a quarterly earning of $1.29 per share, surpassing estimates, though its revenue fell by 7.7% year-over-year to $4.14 billion.

State of New Jersey Common Pension Fund D trimmed its stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 7.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,833 shares of the transportation company's stock after selling 3,262 shares during the period. State of New Jersey Common Pension Fund D's holdings in C.H. Robinson Worldwide were worth $4,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in C.H. Robinson Worldwide by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 14,586,381 shares of the transportation company's stock valued at $1,493,645,000 after buying an additional 51,207 shares during the period. Boston Partners purchased a new stake in C.H. Robinson Worldwide in the 1st quarter valued at about $234,304,000. Invesco Ltd. boosted its position in C.H. Robinson Worldwide by 8.4% in the 1st quarter. Invesco Ltd. now owns 2,285,723 shares of the transportation company's stock valued at $234,058,000 after buying an additional 176,374 shares during the period. Northern Trust Corp boosted its position in C.H. Robinson Worldwide by 4.3% in the 4th quarter. Northern Trust Corp now owns 1,306,795 shares of the transportation company's stock valued at $135,018,000 after buying an additional 53,419 shares during the period. Finally, Deutsche Bank AG boosted its position in C.H. Robinson Worldwide by 25.8% in the 4th quarter. Deutsche Bank AG now owns 938,407 shares of the transportation company's stock valued at $96,956,000 after buying an additional 192,744 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at C.H. Robinson Worldwide

In related news, insider Michael John Short sold 6,364 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $117.24, for a total transaction of $746,115.36. Following the sale, the insider directly owned 60,401 shares of the company's stock, valued at approximately $7,081,413.24. This represents a 9.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Angela K. Freeman sold 5,713 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $116.24, for a total transaction of $664,079.12. Following the sale, the insider directly owned 65,728 shares in the company, valued at $7,640,222.72. This trade represents a 8.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,577 shares of company stock worth $1,714,544. 0.91% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. TD Securities boosted their price objective on shares of C.H. Robinson Worldwide from $111.00 to $112.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Wolfe Research raised shares of C.H. Robinson Worldwide from a "peer perform" rating to an "outperform" rating and set a $112.00 price target for the company in a research report on Tuesday, July 1st. Raymond James Financial set a $111.00 price target on shares of C.H. Robinson Worldwide and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Bank of America upped their price target on shares of C.H. Robinson Worldwide from $120.00 to $136.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Barclays reaffirmed an "underweight" rating and issued a $95.00 price target (up previously from $90.00) on shares of C.H. Robinson Worldwide in a research report on Thursday, July 31st. One equities 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 assigned a Sell rating to the company's stock. According to MarketBeat, C.H. Robinson Worldwide currently has an average rating of "Moderate Buy" and an average target price of $117.24.

C.H. Robinson Worldwide Stock Performance

C.H. Robinson Worldwide stock traded up $1.23 during mid-day trading on Monday, reaching $126.41. 1,356,095 shares of the company traded hands, compared to its average volume of 1,671,120. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.31 and a quick ratio of 1.31. C.H. Robinson Worldwide, Inc. has a fifty-two week low of $84.68 and a fifty-two week high of $126.85. The company has a market capitalization of $14.93 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 1.96 and a beta of 0.86. The firm's fifty day moving average is $105.43 and its two-hundred day moving average is $99.21.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.12. C.H. Robinson Worldwide had a net margin of 3.14% and a return on equity of 35.01%. The business had revenue of $4.14 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same quarter in the prior year, the business posted $1.15 EPS. C.H. Robinson Worldwide's revenue for the quarter was down 7.7% compared to the same quarter last year. On average, equities research analysts expect that C.H. Robinson Worldwide, Inc. will post 4.83 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, September 5th. This represents a $2.48 dividend on an annualized basis and a yield of 2.0%. C.H. Robinson Worldwide's dividend payout ratio is presently 56.49%.

C.H. Robinson Worldwide Company 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.