C.H. Robinson Worldwide, Inc. $CHRW Stake Raised by Principal Financial Group Inc.

Key Points

• Principal Financial Group more than doubled its stake in C.H. Robinson Worldwide in the fourth quarter, increasing holdings by 104% to 301,083 shares worth about $48.4 million.
• The company reported better-than-expected quarterly earnings of $1.35 per share, beating estimates, though revenue of $4.01 billion came in slightly below forecasts and was down 0.9% year over year.
• C.H. Robinson announced a quarterly dividend of $0.63 per share, payable July 2, and analysts currently rate the stock a “Moderate Buy” with an average price target of $192.27.

Principal Financial Group Inc. increased its holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 104.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 301,083 shares of the transportation company's stock after acquiring an additional 153,468 shares during the period. Principal Financial Group Inc. owned about 0.25% of C.H. Robinson Worldwide worth $48,405,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Truist Financial Corp lifted its stake in C.H. Robinson Worldwide by 6.0% in the 4th quarter. Truist Financial Corp now owns 94,444 shares of the transportation company's stock worth $15,183,000 after acquiring an additional 5,310 shares in the last quarter. Avidian Wealth Enterprises LLC grew its stake in C.H. Robinson Worldwide by 4.4% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 3,619 shares of the transportation company's stock valued at $582,000 after purchasing an additional 151 shares in the last quarter. Montag A & Associates Inc. grew its stake in C.H. Robinson Worldwide by 15,326.7% in the fourth quarter. Montag A & Associates Inc. now owns 2,314 shares of the transportation company's stock valued at $372,000 after purchasing an additional 2,299 shares in the last quarter. Pittenger & Anderson Inc. purchased a new position in C.H. Robinson Worldwide in the fourth quarter valued at about $601,000. Finally, Benjamin Edwards Inc. grew its stake in C.H. Robinson Worldwide by 41.3% in the fourth quarter. Benjamin Edwards Inc. now owns 7,649 shares of the transportation company's stock valued at $1,230,000 after purchasing an additional 2,236 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

C.H. Robinson Worldwide Price Performance

Shares of NASDAQ:CHRW opened at $171.39 on Friday. C.H. Robinson Worldwide, Inc. has a fifty-two week low of $88.65 and a fifty-two week high of $203.34. The business has a 50-day moving average of $175.07 and a two-hundred day moving average of $168.24. The stock has a market capitalization of $20.20 billion, a P/E ratio of 34.69, a P/E/G ratio of 1.71 and a beta of 0.94. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.59 and a quick ratio of 1.53.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.35 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.11. C.H. Robinson Worldwide had a return on equity of 35.49% and a net margin of 3.70%.The company had revenue of $4.01 billion during the quarter, compared to analysts' expectations of $4.05 billion. During the same quarter in the previous year, the firm earned $1.17 earnings per share. The business's quarterly revenue was down .9% compared to the same quarter last year. On average, equities research analysts predict that C.H. Robinson Worldwide, Inc. will post 6.07 EPS for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.5%. C.H. Robinson Worldwide's payout ratio is currently 51.01%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Citigroup boosted their target price on C.H. Robinson Worldwide from $191.00 to $199.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. Weiss Ratings upgraded C.H. Robinson Worldwide from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday. Wells Fargo & Company boosted their target price on C.H. Robinson Worldwide from $210.00 to $215.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. TD Cowen boosted their target price on C.H. Robinson Worldwide from $194.00 to $196.00 and gave the company a "hold" rating in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $149.00 target price on shares of C.H. Robinson Worldwide in a research note on Wednesday, January 14th. Sixteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, C.H. Robinson Worldwide has a consensus rating of "Moderate Buy" and an average target price of $192.27.

Insider Buying and Selling

In related news, insider Michael D. Castagnetto purchased 594 shares of C.H. Robinson Worldwide stock in a transaction on Thursday, February 12th. The stock was bought at an average price of $168.24 per share, with a total value of $99,934.56. Following the completion of the transaction, the insider directly owned 35,488 shares of the company's stock, valued at approximately $5,970,501.12. This represents a 1.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Arun Rajan purchased 605 shares of C.H. Robinson Worldwide stock in a transaction on Thursday, February 12th. The stock was bought at an average cost of $167.11 per share, with a total value of $101,101.55. Following the transaction, the insider directly owned 133,656 shares of the company's stock, valued at approximately $22,335,254.16. The trade was a 0.45% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 2,422 shares of company stock valued at $400,801. 0.37% of the stock is owned by corporate insiders.

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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