C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. significantly reduced its stake in C.H. Robinson Worldwide, cutting its holdings by 72% during the first quarter, which now represents approximately 0.98% of the company's total shares.
• Recently, several other institutional investors have either initiated new positions or increased their stakes in C.H. Robinson, highlighting a 93.15% institutional ownership in the company.
• Despite a quarterly revenue decline of 7.7%, C.H. Robinson reported an EPS of $1.29, surpassing analysts' expectations, and a quarterly dividend of $0.62 per share is set for distribution on October 2nd.

Charles Schwab Investment Management Inc. cut its stake in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 72.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,161,569 shares of the transportation company's stock after selling 2,986,261 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.98% of C.H. Robinson Worldwide worth $118,945,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. ASR Vermogensbeheer N.V. purchased a new position in C.H. Robinson Worldwide in the 1st quarter worth approximately $4,444,000. Vanguard Group Inc. lifted its holdings in C.H. Robinson Worldwide by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 14,586,381 shares of the transportation company's stock worth $1,493,645,000 after purchasing an additional 51,207 shares in the last quarter. Legacy Capital Group California Inc. lifted its holdings in C.H. Robinson Worldwide by 5.4% in the 1st quarter. Legacy Capital Group California Inc. now owns 6,492 shares of the transportation company's stock worth $665,000 after purchasing an additional 330 shares in the last quarter. New Age Alpha Advisors LLC lifted its holdings in C.H. Robinson Worldwide by 40.3% in the 1st quarter. New Age Alpha Advisors LLC now owns 1,167 shares of the transportation company's stock worth $120,000 after purchasing an additional 335 shares in the last quarter. Finally, J. Safra Sarasin Holding AG purchased a new position in C.H. Robinson Worldwide in the 1st quarter worth approximately $2,777,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at C.H. Robinson Worldwide

In other news, insider Michael John Short sold 6,364 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $117.24, for a total value of $746,115.36. Following the completion of the transaction, the insider directly owned 60,401 shares in the company, valued at $7,081,413.24. This trade represents a 9.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Angela K. Freeman sold 5,713 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $116.24, for a total value of $664,079.12. Following the completion of the transaction, the insider owned 65,728 shares of the company's stock, valued at approximately $7,640,222.72. The trade was a 8.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.47% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Stifel Nicolaus boosted their price target on C.H. Robinson Worldwide from $108.00 to $111.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Baird R W raised C.H. Robinson Worldwide from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 31st. Susquehanna reaffirmed a "positive" rating and set a $120.00 price objective (up from $115.00) on shares of C.H. Robinson Worldwide in a report on Tuesday, June 24th. TD Cowen upped their price objective on C.H. Robinson Worldwide from $112.00 to $116.00 and gave the stock a "hold" rating in a report on Thursday, July 31st. Finally, Wolfe Research raised C.H. Robinson Worldwide from a "peer perform" rating to an "outperform" rating and set a $112.00 price objective on the stock in a report on Tuesday, July 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $116.33.

C.H. Robinson Worldwide Trading Down 0.2%

C.H. Robinson Worldwide stock traded down $0.29 during mid-day trading on Friday, hitting $121.24. The company's stock had a trading volume of 562,604 shares, compared to its average volume of 1,327,964. The company has a 50 day moving average of $101.46 and a 200-day moving average of $98.13. The stock has a market cap of $14.32 billion, a PE ratio of 27.62, a P/E/G ratio of 1.90 and a beta of 0.86. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.31 and a current ratio of 1.31. C.H. Robinson Worldwide, Inc. has a one year low of $84.68 and a one year high of $122.05.

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

C.H. Robinson Worldwide Announces Dividend

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

C.H. Robinson Worldwide 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.