Novare Capital Management LLC Buys 2,280 Shares of C.H. Robinson Worldwide, Inc. $CHRW

Key Points

• Novare Capital Management LLC increased its stake in C.H. Robinson Worldwide by 2.4%, acquiring an additional 2,280 shares, bringing its total ownership to 97,196 shares valued at approximately $9.3 million.
• C.H. Robinson reported a quarterly EPS of $1.29, beating analysts' estimates, despite a 7.7% decline in revenue compared to the previous year.
• The company recently announced a quarterly dividend of $0.62 per share, yielding 1.9%, with a payout ratio of 56.49%.

Novare Capital Management LLC lifted its holdings in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 97,196 shares of the transportation company's stock after acquiring an additional 2,280 shares during the period. Novare Capital Management LLC owned approximately 0.08% of C.H. Robinson Worldwide worth $9,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. North Capital Inc. bought a new stake in shares of C.H. Robinson Worldwide during the first quarter worth about $25,000. WPG Advisers LLC bought a new stake in shares of C.H. Robinson Worldwide during the first quarter worth about $32,000. National Pension Service increased its position in shares of C.H. Robinson Worldwide by 74.4% during the first quarter. National Pension Service now owns 429 shares of the transportation company's stock worth $44,000 after acquiring an additional 183 shares in the last quarter. Ransom Advisory Ltd bought a new stake in shares of C.H. Robinson Worldwide during the first quarter worth about $51,000. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of C.H. Robinson Worldwide by 307.7% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the transportation company's stock worth $54,000 after acquiring an additional 400 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

C.H. Robinson Worldwide Stock Performance

Shares of CHRW stock opened at $127.39 on Friday. The stock has a market capitalization of $15.04 billion, a P/E ratio of 29.02, a PEG ratio of 1.74 and a beta of 0.90. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.52. The firm's 50 day moving average is $128.74 and its 200 day moving average is $107.54. C.H. Robinson Worldwide, Inc. has a 12 month low of $84.68 and a 12 month high of $138.00.

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

C.H. Robinson Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Friday, September 5th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, September 5th. C.H. Robinson Worldwide's dividend payout ratio is 56.49%.

Analyst Ratings Changes

CHRW has been the subject of a number of recent analyst reports. Wolfe Research raised shares of C.H. Robinson Worldwide from a "peer perform" rating to an "outperform" rating and set a $112.00 price objective for the company in a research report on Tuesday, July 1st. TD Cowen upped their price objective on shares of C.H. Robinson Worldwide from $112.00 to $116.00 and gave the stock a "hold" rating in a research report on Thursday, July 31st. Robert W. Baird raised shares of C.H. Robinson Worldwide from a "neutral" rating to an "outperform" rating and set a $135.00 price objective for the company in a research report on Thursday, July 31st. Evercore ISI upped their price objective on shares of C.H. Robinson Worldwide from $116.00 to $155.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 30th. Finally, Barclays raised shares of C.H. Robinson Worldwide from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $95.00 to $130.00 in a research report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $136.05.

Insider Buying and Selling

In related news, insider Angela K. Freeman sold 5,713 shares of the company'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 transaction of $664,079.12. Following the sale, the insider owned 65,728 shares of the company's stock, valued at approximately $7,640,222.72. This represents a 8.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael John Short sold 6,364 shares of the company'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 sale, the insider directly owned 60,401 shares in the company, valued at $7,081,413.24. This trade represents a 9.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,577 shares of company stock valued at $1,714,544. Company insiders own 1.47% of the company's stock.

About C.H. Robinson Worldwide

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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