Sit Investment Associates Inc. Reduces Holdings in C.H. Robinson Worldwide, Inc. $CHRW

Key Points

• Sit Investment Associates Inc. reduced its stake in C.H. Robinson Worldwide by 37.5%, selling 32,710 shares, and now holds 54,435 shares valued at approximately $5.57 million.
• C.H. Robinson reported Q2 earnings of $1.29 per share, surpassing analysts' expectations of $1.17, although its revenue of $4.14 billion was below the estimated $4.16 billion.
• The company has announced a quarterly dividend of $0.62 per share, representing an annualized yield of 2.0%, with the payout scheduled for October 2nd.

Sit Investment Associates Inc. cut its holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 37.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,435 shares of the transportation company's stock after selling 32,710 shares during the quarter. Sit Investment Associates Inc.'s holdings in C.H. Robinson Worldwide were worth $5,574,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Sterling Capital Management LLC boosted its stake in shares of C.H. Robinson Worldwide by 57.3% during the fourth quarter. Sterling Capital Management LLC now owns 6,882 shares of the transportation company's stock valued at $711,000 after purchasing an additional 2,508 shares in the last quarter. Mariner LLC increased its holdings in C.H. Robinson Worldwide by 5.1% in the fourth quarter. Mariner LLC now owns 32,146 shares of the transportation company's stock worth $3,321,000 after purchasing an additional 1,568 shares in the last quarter. CreativeOne Wealth LLC bought a new stake in C.H. Robinson Worldwide in the fourth quarter worth approximately $620,000. NewEdge Advisors LLC increased its holdings in C.H. Robinson Worldwide by 827.3% in the fourth quarter. NewEdge Advisors LLC now owns 5,258 shares of the transportation company's stock worth $543,000 after purchasing an additional 4,691 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in C.H. Robinson Worldwide by 386.9% in the fourth quarter. Marshall Wace LLP now owns 374,941 shares of the transportation company's stock worth $38,739,000 after purchasing an additional 297,938 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on CHRW shares. Stifel Nicolaus boosted their price objective on C.H. Robinson Worldwide from $108.00 to $111.00 and gave the company a "buy" rating in a report on Thursday, July 31st. TD Securities boosted their price objective on C.H. Robinson Worldwide from $111.00 to $112.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Baird R W upgraded C.H. Robinson Worldwide from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 31st. Wolfe Research upgraded C.H. Robinson Worldwide from a "peer perform" rating to an "outperform" rating and set a $112.00 price objective for the company in a report on Tuesday, July 1st. Finally, Citigroup boosted their price objective on C.H. Robinson Worldwide from $116.00 to $118.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $116.33.

Insider Activity

In other news, insider Michael John Short sold 6,364 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $117.24, for a total transaction of $746,115.36. Following the transaction, the insider directly owned 60,401 shares in the company, valued at approximately $7,081,413.24. This represents a 9.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Angela K. Freeman sold 5,713 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $116.24, for a total value of $664,079.12. Following the transaction, the insider 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. 0.91% of the stock is currently owned by corporate insiders.

C.H. Robinson Worldwide Stock Performance

Shares of NASDAQ:CHRW traded down $0.28 during midday trading on Friday, reaching $121.24. 1,304,639 shares of the company traded hands, compared to its average volume of 1,627,237. 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, Inc. has a 12 month low of $84.68 and a 12 month high of $122.05. The firm has a market capitalization of $14.32 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 1.91 and a beta of 0.86. The firm's fifty day moving average price is $101.97 and its two-hundred day moving average price is $98.13.

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

C.H. Robinson Worldwide Announces Dividend

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

About C.H. Robinson Worldwide

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.