C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) Shares Sold by Cresset Asset Management LLC

Key Points

• Cresset Asset Management LLC reduced its stake in C.H. Robinson Worldwide by 3.4%, now owning about 1.1 million shares valued at $113.5 million.
• The transportation company reported earnings of $1.29 per share for the last quarter, exceeding estimates, although its revenue showed an annual decline of 7.7%.
• C.H. Robinson Worldwide's quarterly dividend of $0.62 reflects an annual yield of 2%, with a payout ratio of 56.49% as of the latest announcement.

Cresset Asset Management LLC trimmed its position in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 3.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,101,922 shares of the transportation company's stock after selling 39,051 shares during the period. Cresset Asset Management LLC owned 0.93% of C.H. Robinson Worldwide worth $113,520,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CHRW. Principal Financial Group Inc. lifted its stake in shares of C.H. Robinson Worldwide by 4.9% in the 1st quarter. Principal Financial Group Inc. now owns 148,905 shares of the transportation company's stock worth $15,248,000 after acquiring an additional 6,889 shares during the period. Amalgamated Bank raised its holdings in shares of C.H. Robinson Worldwide by 1.9% in the 1st quarter. Amalgamated Bank now owns 23,098 shares of the transportation company's stock worth $2,365,000 after purchasing an additional 432 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of C.H. Robinson Worldwide by 4.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 8,567 shares of the transportation company's stock worth $877,000 after purchasing an additional 340 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of C.H. Robinson Worldwide in the 1st quarter worth approximately $206,000. Finally, M&T Bank Corp raised its holdings in shares of C.H. Robinson Worldwide by 1.7% in the 1st quarter. M&T Bank Corp now owns 8,713 shares of the transportation company's stock worth $892,000 after purchasing an additional 144 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

C.H. Robinson Worldwide Stock Down 0.2%

C.H. Robinson Worldwide stock opened at $121.24 on Friday. The firm has a market cap of $14.32 billion, a PE ratio of 27.62, a P/E/G ratio of 1.91 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. The firm's 50 day moving average price is $101.97 and its two-hundred day moving average price is $98.21. C.H. Robinson Worldwide, Inc. has a twelve month low of $84.68 and a twelve month high of $122.05.

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

C.H. Robinson Worldwide Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Bank of America boosted their target price on shares of C.H. Robinson Worldwide from $106.00 to $117.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Wells Fargo & Company boosted their target price on shares of C.H. Robinson Worldwide from $125.00 to $127.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Raymond James Financial set a $111.00 target price on shares of C.H. Robinson Worldwide and gave the stock an "outperform" rating in a report on Tuesday, July 15th. UBS Group reiterated a "buy" rating and issued a $133.00 target price (up from $129.00) on shares of C.H. Robinson Worldwide in a report on Thursday, July 31st. Finally, Baird R W upgraded shares of C.H. Robinson Worldwide from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, C.H. Robinson Worldwide presently has an average rating of "Moderate Buy" and an average price target of $116.33.

Insider Activity at C.H. Robinson Worldwide

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

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.

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