Perbak Capital Partners LLP Invests $299,000 in C.H. Robinson Worldwide, Inc. $CHRW

Key Points

• Perbak Capital Partners LLP acquired a new position in C.H. Robinson Worldwide, Inc., purchasing 2,917 shares valued at approximately $299,000 in the 1st quarter of 2023.
• Despite a revenue decline of 7.7% compared to last year, C.H. Robinson reported $1.29 EPS for the quarter, exceeding analysts' estimates of $1.17 EPS.
• The company declared a quarterly dividend of $0.62 per share, with an annualized dividend yield of 1.9%, to be paid on October 2nd, 2023.

Perbak Capital Partners LLP acquired a new stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,917 shares of the transportation company's stock, valued at approximately $299,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of C.H. Robinson Worldwide by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 14,586,381 shares of the transportation company's stock valued at $1,493,645,000 after purchasing an additional 51,207 shares during the period. Boston Partners purchased a new position in C.H. Robinson Worldwide during the first quarter worth about $234,304,000. Invesco Ltd. boosted its stake in C.H. Robinson Worldwide by 8.4% during the first quarter. Invesco Ltd. now owns 2,285,723 shares of the transportation company's stock worth $234,058,000 after buying an additional 176,374 shares during the period. Northern Trust Corp boosted its stake in C.H. Robinson Worldwide by 30.3% during the first quarter. Northern Trust Corp now owns 1,703,059 shares of the transportation company's stock worth $174,393,000 after buying an additional 396,264 shares during the period. Finally, Deutsche Bank AG lifted its position in shares of C.H. Robinson Worldwide by 25.8% during the fourth quarter. Deutsche Bank AG now owns 938,407 shares of the transportation company's stock worth $96,956,000 after purchasing an additional 192,744 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on CHRW shares. JPMorgan Chase & Co. increased their price target on shares of C.H. Robinson Worldwide from $118.00 to $121.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. UBS Group reissued a "buy" rating and set a $133.00 price objective (up previously from $129.00) on shares of C.H. Robinson Worldwide in a report on Thursday, July 31st. Wolfe Research upgraded shares of C.H. Robinson Worldwide from a "peer perform" rating to an "outperform" rating and set a $112.00 price objective on the stock in a research report on Tuesday, July 1st. Robert W. Baird upgraded shares of C.H. Robinson Worldwide from a "neutral" rating to an "outperform" rating and set a $135.00 price objective on the stock in a research report on Thursday, July 31st. Finally, Susquehanna reiterated a "positive" rating and issued a $120.00 price objective (up from $115.00) on shares of C.H. Robinson Worldwide in a research report on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $117.24.

C.H. Robinson Worldwide Price Performance

C.H. Robinson Worldwide stock traded down $1.71 during midday trading on Friday, reaching $126.13. The company's stock had a trading volume of 1,448,044 shares, compared to its average volume of 1,419,221. C.H. Robinson Worldwide, Inc. has a fifty-two week low of $84.68 and a fifty-two week high of $131.17. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.31 and a current ratio of 1.31. The stock's 50 day simple moving average is $111.62 and its 200 day simple moving average is $101.01. The firm has a market capitalization of $14.89 billion, a PE ratio of 28.73, a P/E/G ratio of 2.00 and a beta of 0.87.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last released its 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. C.H. Robinson Worldwide had a return on equity of 35.01% and a net margin of 3.14%.The company had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter last year, the company earned $1.15 earnings per share. C.H. Robinson Worldwide's quarterly revenue was down 7.7% compared to the same quarter last year. On average, equities research analysts forecast that C.H. Robinson Worldwide, Inc. will post 4.83 earnings per share for the current year.

C.H. Robinson Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $2.48 dividend on an annualized basis and a yield of 2.0%. C.H. Robinson Worldwide's dividend payout ratio (DPR) is 56.49%.

Insider Transactions at C.H. Robinson Worldwide

In other news, insider Angela K. Freeman sold 5,713 shares of C.H. Robinson Worldwide stock in a transaction on Monday, August 11th. The stock was sold at an average price of $116.24, for a total transaction of $664,079.12. Following the completion of the transaction, the insider owned 65,728 shares of the company's stock, valued at $7,640,222.72. The trade was a 8.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael John Short sold 6,364 shares of C.H. Robinson Worldwide stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $117.24, for a total value of $746,115.36. Following the transaction, the insider directly owned 60,401 shares of the company's stock, 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. Insiders sold 14,577 shares of company stock valued at $1,714,544 in the last 90 days. 1.47% of the stock is currently owned by insiders.

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.