Mitsubishi UFJ Asset Management Co. Ltd. Sells 14,545 Shares of C.H. Robinson Worldwide, Inc. $CHRW

Key Points

• Mitsubishi UFJ Asset Management reduced its C.H. Robinson Worldwide stake by 4.9% in the fourth quarter, selling 14,545 shares and ending with 280,703 shares worth about $45.96 million.
• C.H. Robinson reported better-than-expected earnings for the quarter, posting $1.35 per share versus analysts’ estimate of $1.24, though revenue of $4.01 billion came in slightly below expectations.
• The company also declared a quarterly dividend of $0.63 per share, and Wall Street remains moderately positive overall with a consensus rating of “Moderate Buy” and an average price target of $192.27.

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 4.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 280,703 shares of the transportation company's stock after selling 14,545 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.24% of C.H. Robinson Worldwide worth $45,957,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, insider Angela K. Freeman sold 8,579 shares of C.H. Robinson Worldwide stock in a transaction on Monday, February 9th. The stock was sold at an average price of $200.52, for a total value of $1,720,261.08. Following the transaction, the insider directly owned 55,611 shares in the company, valued at approximately $11,151,117.72. This trade represents a 13.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Arun Rajan purchased 605 shares of the business's stock in a transaction dated Thursday, February 12th. The stock was bought at an average price of $167.11 per share, for a total transaction of $101,101.55. Following the completion of the acquisition, the insider directly owned 133,656 shares in the company, valued at approximately $22,335,254.16. This trade represents a 0.45% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 2,422 shares of company stock worth $400,801. Insiders own 0.37% of the company's stock.

C.H. Robinson Worldwide Trading Up 0.0%

Shares of NASDAQ CHRW opened at $171.39 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 0.79. The business has a fifty day simple moving average of $175.07 and a two-hundred day simple moving average of $168.24. The firm has a market cap 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. C.H. Robinson Worldwide, Inc. has a twelve month low of $88.65 and a twelve month high of $203.34.

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

C.H. Robinson Worldwide Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company raised their price target on C.H. Robinson Worldwide from $210.00 to $215.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Truist Financial raised their price target on C.H. Robinson Worldwide from $190.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, January 29th. Morgan Stanley raised their price target on C.H. Robinson Worldwide from $85.00 to $90.00 and gave the stock an "underweight" rating in a research note on Thursday, January 29th. Bank of America decreased their price target on C.H. Robinson Worldwide from $225.00 to $219.00 and set a "buy" rating for the company in a research note on Friday, March 27th. Finally, BMO Capital Markets reissued a "market perform" rating and set a $180.00 price target on shares of C.H. Robinson Worldwide in a research note on Thursday, January 29th. Sixteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $192.27.

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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