Novare Capital Management LLC Trims Stock Holdings in C.H. Robinson Worldwide, Inc. $CHRW

Key Points

• Novare Capital Management trimmed its stake in C.H. Robinson Worldwide by 7.0% in the first quarter, selling 6,164 shares and leaving it with 82,309 shares valued at about $13.67 million.
• Wall Street sentiment is generally positive: 16 analysts rate CHRW a Buy, six rate it Hold, and one rates it Sell, with a consensus of “Moderate Buy” and an average price target of $195.65.
• The company posted stronger-than-expected earnings, reporting Q1 EPS of $1.35 versus estimates of $1.24, while revenue came in slightly below expectations at $4.01 billion and was down 0.9% year over year.

Novare Capital Management LLC lowered its stake in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 7.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,309 shares of the transportation company's stock after selling 6,164 shares during the period. C.H. Robinson Worldwide accounts for approximately 1.1% of Novare Capital Management LLC's portfolio, making the stock its 26th biggest holding. Novare Capital Management LLC owned 0.07% of C.H. Robinson Worldwide worth $13,669,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CHRW. Vestcor Inc raised its position in shares of 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 buying an additional 51 shares during the last quarter. Horizon Investments LLC lifted its stake in shares of C.H. Robinson Worldwide by 3.1% during the 4th quarter. Horizon Investments LLC now owns 1,950 shares of the transportation company's stock worth $313,000 after purchasing an additional 58 shares during the period. Signaturefd LLC grew its position in shares of C.H. Robinson Worldwide by 3.6% in the fourth quarter. Signaturefd LLC now owns 1,700 shares of the transportation company's stock valued at $273,000 after purchasing an additional 59 shares during the period. Brendel Financial Advisors LLC increased its stake in C.H. Robinson Worldwide by 2.2% in the fourth quarter. Brendel Financial Advisors LLC now owns 2,896 shares of the transportation company's stock valued at $466,000 after purchasing an additional 61 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC lifted its position in C.H. Robinson Worldwide by 1.7% during the fourth quarter. Elevation Point Wealth Partners LLC now owns 4,108 shares of the transportation company's stock worth $663,000 after buying an additional 69 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the company. Raymond James Financial set a $210.00 price target on C.H. Robinson Worldwide in a report on Thursday, April 30th. Jefferies Financial Group raised shares of C.H. Robinson Worldwide from a "hold" rating to a "buy" rating and raised their target price for the stock from $195.00 to $200.00 in a research report on Wednesday, May 20th. Stifel Nicolaus boosted their target price on shares of C.H. Robinson Worldwide from $202.00 to $207.00 and gave the company a "buy" rating in a report on Friday, May 1st. JPMorgan Chase & Co. upped their price target 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. Finally, Robert W. Baird set a $230.00 price target on shares of C.H. Robinson Worldwide in a research note on Friday, May 1st. Sixteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $195.65.

C.H. Robinson Worldwide Stock Performance

C.H. Robinson Worldwide stock opened at $187.07 on Tuesday. C.H. Robinson Worldwide, Inc. has a 12-month low of $92.36 and a 12-month high of $203.34. The company has a market capitalization of $22.05 billion, a price-to-earnings ratio of 37.87, a price-to-earnings-growth ratio of 1.60 and a beta of 0.91. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.59 and a quick ratio of 1.59. The firm's fifty day moving average price is $178.61 and its 200 day moving average price is $175.43.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $4.01 billion during 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%. The firm's revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the company posted $1.17 EPS. On average, research analysts forecast that C.H. Robinson Worldwide, Inc. will post 6.09 EPS for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, June 5th. This represents a $2.52 dividend on an annualized basis and a yield of 1.3%. C.H. Robinson Worldwide's dividend payout ratio is currently 51.01%.

About C.H. Robinson Worldwide

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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