C.H. Robinson Worldwide, Inc. $CHRW Stock: Assenagon Asset Management S.A. Grows Position

Key Points

• Assenagon Asset Management increased its C.H. Robinson stake by 505.9% in the third quarter, bringing its holdings to 54,394 shares valued at approximately $8.05 million. Institutional investors and hedge funds collectively own 93.15% of the stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $190, despite several firms recently lowering their targets.
• CHRW shares opened at $138.85, while the company reported quarterly EPS of $1.61 and revenue of $4.93 billion, both above expectations. It also pays a quarterly dividend of $0.63, equivalent to a 1.8% annual yield.

Assenagon Asset Management S.A. boosted its holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 505.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 54,394 shares of the transportation company's stock after buying an additional 45,416 shares during the period. Assenagon Asset Management S.A.'s holdings in C.H. Robinson Worldwide were worth $8,048,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CHRW. Dogwood Wealth Management LLC grew its stake in shares of C.H. Robinson Worldwide by 37.8% during the 2nd quarter. Dogwood Wealth Management LLC now owns 237 shares of the transportation company's stock valued at $45,000 after buying an additional 65 shares during the period. Cornerstone Planning Group LLC boosted its holdings in C.H. Robinson Worldwide by 57.3% in the first quarter. Cornerstone Planning Group LLC now owns 184 shares of the transportation company's stock valued at $31,000 after acquiring an additional 67 shares during the last quarter. Millstone Evans Group LLC grew its position in C.H. Robinson Worldwide by 79.8% during the first quarter. Millstone Evans Group LLC now owns 160 shares of the transportation company's stock valued at $27,000 after acquiring an additional 71 shares during the period. Root Financial Partners LLC grew its position in C.H. Robinson Worldwide by 8.7% during the first quarter. Root Financial Partners LLC now owns 933 shares of the transportation company's stock valued at $155,000 after acquiring an additional 75 shares during the period. Finally, Elevated Capital Advisors LLC increased its stake in C.H. Robinson Worldwide by 10.9% during the first quarter. Elevated Capital Advisors LLC now owns 835 shares of the transportation company's stock worth $139,000 after acquiring an additional 82 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CHRW shares. Truist Financial cut their price objective on C.H. Robinson Worldwide from $215.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, October 7th. Jefferies Financial Group reiterated a "buy" rating and set a $220.00 target price on shares of C.H. Robinson Worldwide in a report on Tuesday, October 6th. Citizens Jmp began coverage on C.H. Robinson Worldwide in a report on Wednesday, July 15th. They set a "market perform" rating and a $235.00 target price for the company. Wolfe Research set a $196.00 target price on shares of C.H. Robinson Worldwide in a research report on Thursday, July 30th. Finally, Stephens cut their price target on shares of C.H. Robinson Worldwide from $225.00 to $215.00 and set an "overweight" rating on the stock in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, C.H. Robinson Worldwide has an average rating of "Moderate Buy" and an average target price of $190.00.

C.H. Robinson Worldwide Trading Down 0.5%

Shares of CHRW opened at $138.85 on Tuesday. The stock's 50-day moving average is $147.01 and its two-hundred day moving average is $167.70. The stock has a market cap of $16.22 billion, a PE ratio of 26.50, a P/E/G ratio of 1.16 and a beta of 0.94. C.H. Robinson Worldwide, Inc. has a 12 month low of $125.35 and a 12 month high of $210.33. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.58 and a quick ratio of 1.58.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last posted its earnings results on Wednesday, July 29th. The transportation company reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.53 by $0.08. C.H. Robinson Worldwide had a return on equity of 38.36% and a net margin of 3.73%. The business had revenue of $4.93 billion during the quarter, compared to analyst estimates of $4.35 billion. During the same quarter last year, the firm earned $1.29 earnings per share. The company's revenue for the quarter was up 19.3% compared to the same quarter last year. Equities analysts forecast that C.H. Robinson Worldwide, Inc. will post 6.26 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 4th were paid a $0.63 dividend. The ex-dividend date was Friday, September 4th. This represents a $2.52 annualized dividend and a dividend yield of 1.8%. C.H. Robinson Worldwide's dividend payout ratio is 48.09%.

C.H. Robinson Worldwide Profile

C.H. Robinson Worldwide, Inc is a global third-party logistics provider that connects shippers with transportation carriers and other supply-chain resources. The company arranges the movement of freight by truckload, less-than-truckload, intermodal, ocean and air transportation, serving businesses across a range of industries.

Its services include freight brokerage, transportation management, logistics consulting, customs and trade support, shipment tracking, and technology-enabled supply-chain solutions.

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