Avantax Planning Partners Inc. Trims Stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Avantax Planning Partners Inc. cut its stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 93.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,693 shares of the transportation company's stock after selling 89,679 shares during the quarter. Avantax Planning Partners Inc.'s holdings in C.H. Robinson Worldwide were worth $685,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Proficio Capital Partners LLC bought a new stake in C.H. Robinson Worldwide during the fourth quarter valued at $33,000. State of Michigan Retirement System boosted its stake in C.H. Robinson Worldwide by 0.6% during the fourth quarter. State of Michigan Retirement System now owns 32,092 shares of the transportation company's stock valued at $3,316,000 after buying an additional 200 shares during the period. Keybank National Association OH bought a new stake in C.H. Robinson Worldwide during the fourth quarter valued at $307,000. Victory Capital Management Inc. boosted its stake in C.H. Robinson Worldwide by 93.4% during the fourth quarter. Victory Capital Management Inc. now owns 62,201 shares of the transportation company's stock valued at $6,427,000 after buying an additional 30,043 shares during the period. Finally, M&T Bank Corp boosted its stake in C.H. Robinson Worldwide by 31.5% during the fourth quarter. M&T Bank Corp now owns 8,569 shares of the transportation company's stock valued at $886,000 after buying an additional 2,052 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at C.H. Robinson Worldwide

In related news, insider Angela K. Freeman sold 5,700 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $97.42, for a total transaction of $555,294.00. Following the transaction, the insider owned 71,441 shares in the company, valued at $6,959,782.22. The trade was a 7.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.91% of the stock is currently owned by corporate insiders.

C.H. Robinson Worldwide Trading Up 1.7%

Shares of CHRW traded up $1.60 during trading hours on Tuesday, hitting $98.33. The company had a trading volume of 1,216,746 shares, compared to its average volume of 1,302,114. C.H. Robinson Worldwide, Inc. has a 52-week low of $84.24 and a 52-week high of $114.82. The firm has a market cap of $11.67 billion, a P/E ratio of 23.52, a P/E/G ratio of 1.58 and a beta of 0.89. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The stock's 50 day moving average price is $95.02 and its 200 day moving average price is $97.63.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The transportation company reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.15. C.H. Robinson Worldwide had a return on equity of 35.37% and a net margin of 2.93%. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the business earned $0.86 EPS. C.H. Robinson Worldwide's revenue was down 8.3% compared to the same quarter last year. On average, research analysts predict that C.H. Robinson Worldwide, Inc. will post 4.83 EPS for the current year.

C.H. Robinson Worldwide Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $2.48 dividend on an annualized basis and a yield of 2.52%. C.H. Robinson Worldwide's dividend payout ratio is presently 59.33%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CHRW. Jefferies Financial Group dropped their price objective on C.H. Robinson Worldwide from $110.00 to $100.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Evercore ISI dropped their price objective on C.H. Robinson Worldwide from $119.00 to $110.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Susquehanna reaffirmed a "positive" rating and set a $120.00 price target (up previously from $115.00) on shares of C.H. Robinson Worldwide in a research note on Tuesday, June 24th. Baird R W raised C.H. Robinson Worldwide to a "hold" rating in a research note on Tuesday, July 1st. Finally, Wells Fargo & Company dropped their price target on C.H. Robinson Worldwide from $130.00 to $125.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $113.64.

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.