Mirae Asset Global Investments Co. Ltd. Reduces Stock Holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Mirae Asset Global Investments Co. Ltd. lowered its position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 78.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,244 shares of the transportation company's stock after selling 83,883 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in C.H. Robinson Worldwide were worth $2,351,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. NBC Securities Inc. purchased a new stake in C.H. Robinson Worldwide in the 1st quarter worth approximately $27,000. First Financial Corp IN purchased a new stake in C.H. Robinson Worldwide in the 1st quarter worth approximately $31,000. Proficio Capital Partners LLC purchased a new stake in C.H. Robinson Worldwide in the 4th quarter worth approximately $33,000. AdvisorNet Financial Inc boosted its position in C.H. Robinson Worldwide by 252.1% in the 1st quarter. AdvisorNet Financial Inc now owns 419 shares of the transportation company's stock worth $43,000 after purchasing an additional 300 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in C.H. Robinson Worldwide by 31.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 482 shares of the transportation company's stock worth $49,000 after purchasing an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

C.H. Robinson Worldwide Price Performance

Shares of NASDAQ CHRW traded down $1.18 during mid-day trading on Friday, reaching $97.96. The company's stock had a trading volume of 478,230 shares, compared to its average volume of 1,301,783. The stock has a 50-day moving average of $94.67 and a two-hundred day moving average of $97.73. The stock has a market capitalization of $11.63 billion, a P/E ratio of 23.44, a P/E/G ratio of 1.61 and a beta of 0.89. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. C.H. Robinson Worldwide, Inc. has a 1-year low of $84.24 and a 1-year high of $114.82.

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

C.H. Robinson Worldwide Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend was Friday, June 6th. C.H. Robinson Worldwide's dividend payout ratio is currently 59.33%.

Insider Activity

In related news, insider Angela K. Freeman sold 5,700 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $97.42, for a total value of $555,294.00. Following the completion of the sale, the insider owned 71,441 shares of the company's stock, valued at approximately $6,959,782.22. This represents a 7.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CHRW. JPMorgan Chase & Co. lowered their price objective on C.H. Robinson Worldwide from $126.00 to $118.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft assumed coverage on C.H. Robinson Worldwide in a research note on Friday, March 7th. They set a "buy" rating and a $129.00 target price for the company. Wolfe Research raised shares of C.H. Robinson Worldwide from a "peer perform" rating to an "outperform" rating and set a $112.00 price target on the stock in a research note on Tuesday. Barclays reduced their price objective on shares of C.H. Robinson Worldwide from $100.00 to $90.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. Finally, Wall Street Zen cut shares of C.H. Robinson Worldwide from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $113.50.

C.H. Robinson Worldwide Company 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.