Crossmark Global Holdings Inc. Sells 12,523 Shares of C.H. Robinson Worldwide, Inc. $CHRW

Key Points

• Crossmark Global Holdings reduced its stake in C.H. Robinson Worldwide by 15.8% in the fourth quarter, selling 12,523 shares and leaving it with 66,973 shares valued at about $10.77 million.
• Wall Street sentiment remains mostly positive, with 16 analysts rating CHRW a Buy, five a Hold, and one a Sell, resulting in a consensus rating of Moderate Buy and an average target price of $192.27.
• The company reported solid quarterly results, posting adjusted EPS of $1.35 versus expectations of $1.24, while revenue came in slightly below estimates at $4.01 billion and the board declared a quarterly dividend of $0.63 per share.

Crossmark Global Holdings Inc. trimmed its position in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 15.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,973 shares of the transportation company's stock after selling 12,523 shares during the quarter. Crossmark Global Holdings Inc. owned 0.06% of C.H. Robinson Worldwide worth $10,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of CHRW. Wellington Management Group LLP boosted its holdings in C.H. Robinson Worldwide by 198.6% during the 3rd quarter. Wellington Management Group LLP now owns 7,143,297 shares of the transportation company's stock worth $945,773,000 after acquiring an additional 4,751,034 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in C.H. Robinson Worldwide during the 3rd quarter worth $72,929,000. Raymond James Financial Inc. boosted its holdings in C.H. Robinson Worldwide by 68.5% during the 3rd quarter. Raymond James Financial Inc. now owns 1,051,312 shares of the transportation company's stock worth $139,194,000 after acquiring an additional 427,543 shares during the last quarter. Earnest Partners LLC purchased a new position in C.H. Robinson Worldwide during the 3rd quarter worth $54,313,000. Finally, State Street Corp boosted its holdings in C.H. Robinson Worldwide by 5.7% during the 2nd quarter. State Street Corp now owns 7,420,768 shares of the transportation company's stock worth $716,423,000 after acquiring an additional 397,177 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. TD Cowen lifted their price objective on shares of C.H. Robinson Worldwide from $194.00 to $196.00 and gave the stock a "hold" rating in a report on Thursday, April 30th. Susquehanna cut their price objective on shares of C.H. Robinson Worldwide from $220.00 to $215.00 and set a "positive" rating on the stock in a report on Wednesday, April 22nd. Wells Fargo & Company lifted their price objective on shares of C.H. Robinson Worldwide from $210.00 to $215.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $149.00 price objective on shares of C.H. Robinson Worldwide in a report on Wednesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $200.00 price objective on shares of C.H. Robinson Worldwide in a report on Thursday, January 29th. Sixteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $192.27.

Insider Buying and Selling

In other C.H. Robinson Worldwide news, insider Angela K. Freeman sold 8,579 shares of the company's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $200.52, for a total transaction of $1,720,261.08. Following the sale, the insider directly owned 55,611 shares of the company's stock, valued at $11,151,117.72. This represents a 13.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David P. Bozeman acquired 1,223 shares of the company's stock in a transaction on Thursday, February 12th. The shares were acquired at an average cost of $163.34 per share, for a total transaction of $199,764.82. Following the completion of the acquisition, the chief executive officer owned 190,600 shares of the company's stock, valued at approximately $31,132,604. The trade was a 0.65% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 2,422 shares of company stock worth $400,801 in the last three months. Insiders own 0.37% of the company's stock.

C.H. Robinson Worldwide Trading Up 0.0%

NASDAQ:CHRW opened at $171.39 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $20.20 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 1.71 and a beta of 0.94. The firm's 50 day moving average is $175.07 and its 200 day moving average is $168.24. C.H. Robinson Worldwide, Inc. has a 12 month low of $88.65 and a 12 month high of $203.34.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.35 EPS for the quarter, topping analysts' consensus estimates of $1.24 by $0.11. The company had revenue of $4.01 billion for the quarter, compared to analysts' expectations of $4.05 billion. C.H. Robinson Worldwide had a net margin of 3.70% and a return on equity of 35.49%. C.H. Robinson Worldwide's revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.17 EPS. Sell-side analysts expect that C.H. Robinson Worldwide, Inc. will post 6.07 earnings per share for the current year.

C.H. Robinson Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 5th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, June 5th. C.H. Robinson Worldwide's payout ratio is 51.01%.

C.H. Robinson Worldwide Company Profile

C.H. Robinson Worldwide, Inc is a third-party logistics provider founded in 1905 and headquartered in Eden Prairie, Minnesota. Originally established as a produce brokerage firm, the company has since expanded its offerings to become one of the world's largest freight and logistics intermediaries. C.H. Robinson leverages a global network of transportation providers, technology platforms, and in-house expertise to connect shippers and carriers across multiple modes of transportation.

The company's primary services include truckload, less-than-truckload (LTL), intermodal, air and ocean freight, and managed transportation solutions.

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