Panagora Asset Management Inc. Purchases 8,321 Shares of C.H. Robinson Worldwide, Inc. $CHRW

Key Points

• Panagora Asset Management Inc. increased its stake in C.H. Robinson Worldwide by 207.7% during the first quarter, now holding shares worth $1,262,000.
• C.H. Robinson Worldwide reported a quarterly earnings per share of $1.29, surpassing consensus estimates, but faced a 7.7% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.62 per share, with a yield of 1.9%, and a payout ratio of 56.49%.

Panagora Asset Management Inc. increased its position in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 207.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,328 shares of the transportation company's stock after purchasing an additional 8,321 shares during the quarter. Panagora Asset Management Inc.'s holdings in C.H. Robinson Worldwide were worth $1,262,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. North Capital Inc. acquired a new stake in C.H. Robinson Worldwide in the 1st quarter worth approximately $25,000. NBC Securities Inc. acquired a new position in shares of C.H. Robinson Worldwide during the 1st quarter worth approximately $27,000. First Financial Corp IN acquired a new position in shares of C.H. Robinson Worldwide during the 1st quarter worth approximately $31,000. WPG Advisers LLC bought a new stake in shares of C.H. Robinson Worldwide during the 1st quarter worth $32,000. Finally, AdvisorNet Financial Inc increased its holdings in C.H. Robinson Worldwide by 252.1% in the 1st quarter. AdvisorNet Financial Inc now owns 419 shares of the transportation company's stock worth $43,000 after purchasing an additional 300 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CHRW has been the subject of several recent analyst reports. Stifel Nicolaus boosted their target price on C.H. Robinson Worldwide from $108.00 to $111.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of C.H. Robinson Worldwide from $118.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. TD Cowen increased their target price on shares of C.H. Robinson Worldwide from $112.00 to $116.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. Wells Fargo & Company increased their price objective on shares of C.H. Robinson Worldwide from $125.00 to $127.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Raymond James Financial set a $111.00 target price on shares of C.H. Robinson Worldwide and gave the company an "outperform" rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $117.24.

Insider Activity at C.H. Robinson Worldwide

In related news, insider Angela K. Freeman sold 5,713 shares of C.H. Robinson Worldwide stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 65,728 shares in the company, valued at approximately $7,640,222.72. This trade represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Arun Rajan sold 2,500 shares of the company's stock in a transaction 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 completion of the transaction, the insider directly owned 130,591 shares in the company, valued at approximately $15,898,148.34. This trade represents a 1.88% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,577 shares of company stock worth $1,714,544. 0.91% of the stock is owned by company insiders.

C.H. Robinson Worldwide Stock Performance

NASDAQ CHRW traded down $0.60 during midday trading on Monday, hitting $125.53. The company had a trading volume of 562,246 shares, compared to its average volume of 1,347,410. The firm has a fifty day simple moving average of $111.62 and a two-hundred day simple moving average of $101.03. The stock has a market cap of $14.82 billion, a price-to-earnings ratio of 28.58, a P/E/G ratio of 1.98 and a beta of 0.87. C.H. Robinson Worldwide, Inc. has a fifty-two week low of $84.68 and a fifty-two week high of $131.17. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.52.

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

C.H. Robinson Worldwide Announces Dividend

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