Jennison Associates LLC Lowers Stock Holdings in C.H. Robinson Worldwide, Inc. $CHRW

Key Points

• Jennison Associates LLC reduced its stake in C.H. Robinson Worldwide by 3.4% in the first quarter, selling 9,570 shares and ending with 272,861 shares valued at about $45.3 million.
• The company reported better-than-expected quarterly earnings of $1.35 per share, topping estimates, though revenue of $4.01 billion came in slightly below forecasts and was down 0.9% year over year.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average target price of $198.62, while C.H. Robinson also pays a quarterly dividend of $0.63 per share.

Jennison Associates LLC cut its holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 3.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 272,861 shares of the transportation company's stock after selling 9,570 shares during the period. Jennison Associates LLC owned 0.23% of C.H. Robinson Worldwide worth $45,314,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CHRW. Vestcor Inc increased its stake in C.H. Robinson Worldwide by 0.8% in the fourth quarter. Vestcor Inc now owns 6,403 shares of the transportation company's stock valued at $1,029,000 after purchasing an additional 51 shares during the last quarter. Horizon Investments LLC boosted its stake in C.H. Robinson Worldwide by 3.1% in the 4th quarter. Horizon Investments LLC now owns 1,950 shares of the transportation company's stock worth $313,000 after buying an additional 58 shares during the last quarter. Signaturefd LLC grew its holdings in C.H. Robinson Worldwide by 3.6% in the 4th quarter. Signaturefd LLC now owns 1,700 shares of the transportation company's stock valued at $273,000 after buying an additional 59 shares during the period. Brendel Financial Advisors LLC grew its holdings in C.H. Robinson Worldwide by 2.2% in the 4th quarter. Brendel Financial Advisors LLC now owns 2,896 shares of the transportation company's stock valued at $466,000 after buying an additional 61 shares during the period. Finally, Cornerstone Planning Group LLC increased its stake in shares of C.H. Robinson Worldwide by 57.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 184 shares of the transportation company's stock valued at $31,000 after acquiring an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

C.H. Robinson Worldwide Price Performance

C.H. Robinson Worldwide stock opened at $205.80 on Tuesday. C.H. Robinson Worldwide, Inc. has a 52-week low of $96.27 and a 52-week high of $209.65. The firm has a fifty day moving average of $184.43 and a 200-day moving average of $179.77. The firm has a market capitalization of $24.26 billion, a P/E ratio of 41.66, a PEG ratio of 1.80 and a beta of 0.91. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.79.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last posted its earnings results on Wednesday, April 29th. The transportation company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.11. C.H. Robinson Worldwide had a net margin of 3.70% and a return on equity of 35.49%. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the previous year, the business posted $1.17 EPS. The business's quarterly revenue was down .9% on a year-over-year basis. As a group, analysts predict that C.H. Robinson Worldwide, Inc. will post 6.11 EPS for the current year.

C.H. Robinson Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, June 5th. C.H. Robinson Worldwide's payout ratio is currently 51.01%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of C.H. Robinson Worldwide from $180.00 to $196.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Raymond James Financial dropped their price target on shares of C.H. Robinson Worldwide from $210.00 to $203.00 and set an "outperform" rating for the company in a research report on Thursday, July 2nd. Bank of America decreased their price target on shares of C.H. Robinson Worldwide from $225.00 to $219.00 and set a "buy" rating on the stock in a report on Friday, March 27th. Truist Financial boosted their price objective on shares of C.H. Robinson Worldwide from $210.00 to $215.00 and gave the company a "buy" rating in a research note on Wednesday, July 15th. Finally, Wall Street Zen downgraded C.H. Robinson Worldwide from a "buy" rating to a "hold" rating in a report on Sunday, May 24th. Seventeen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $198.62.

C.H. Robinson Worldwide 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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