Pictet Asset Management Holding SA Decreases Stock Position in C.H. Robinson Worldwide, Inc. $CHRW

Key Points

• Pictet Asset Management Holding SA cut its stake in C.H. Robinson Worldwide by 26.9% in the first quarter, selling 28,028 shares and ending with 76,302 shares worth about $12.66 million.
• C.H. Robinson reported better-than-expected earnings of $1.35 per share for the latest quarter, beating analyst estimates, though revenue of $4.01 billion came in slightly below expectations and was down 0.9% year over year.
• Analysts remain broadly positive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $195.35; the company also paid a quarterly dividend of $0.63, or $2.52 annualized.

Pictet Asset Management Holding SA reduced its holdings in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 26.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,302 shares of the transportation company's stock after selling 28,028 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.06% of C.H. Robinson Worldwide worth $12,662,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vestcor Inc grew 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 purchasing an additional 51 shares during the last quarter. Horizon Investments LLC raised its position 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 last quarter. Signaturefd LLC lifted its stake 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 in the last quarter. Brendel Financial Advisors LLC grew its holdings in C.H. Robinson Worldwide by 2.2% during 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 last quarter. Finally, Elevation Point Wealth Partners LLC grew its holdings in C.H. Robinson Worldwide by 1.7% during the 4th quarter. Elevation Point Wealth Partners LLC now owns 4,108 shares of the transportation company's stock valued at $663,000 after buying an additional 69 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

C.H. Robinson Worldwide Stock Performance

Shares of CHRW stock opened at $189.85 on Friday. C.H. Robinson Worldwide, Inc. has a one year low of $96.27 and a one year high of $203.34. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.59 and a current ratio of 1.59. The company has a 50 day moving average price of $180.09 and a 200 day moving average price of $176.94. The firm has a market capitalization of $22.38 billion, a price-to-earnings ratio of 38.43, a price-to-earnings-growth ratio of 1.65 and a beta of 0.91.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $4.01 billion for the quarter, compared to analysts' expectations of $4.05 billion. During the same quarter last year, the company posted $1.17 earnings per share. C.H. Robinson Worldwide's revenue was down .9% on a year-over-year basis. Sell-side analysts anticipate that C.H. Robinson Worldwide, Inc. will post 6.09 EPS for the current year.

C.H. Robinson Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 5th were issued a $0.63 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.52 annualized dividend and a dividend yield of 1.3%. C.H. Robinson Worldwide's dividend payout ratio (DPR) is 51.01%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CHRW. Wells Fargo & Company boosted their price target on C.H. Robinson Worldwide from $210.00 to $215.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Bank of America dropped their price objective on C.H. Robinson Worldwide from $225.00 to $219.00 and set a "buy" rating for the company in a research report on Friday, March 27th. Robert W. Baird set a $230.00 target price on shares of C.H. Robinson Worldwide in a research note on Friday, May 1st. Citigroup lowered shares of C.H. Robinson Worldwide from a "buy" rating to a "neutral" rating and set a $199.00 target price on the stock. in a report on Monday, June 15th. Finally, Wall Street Zen cut shares of C.H. Robinson Worldwide from a "buy" rating to a "hold" rating in a research note on Sunday, May 24th. Sixteen equities 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $195.35.

C.H. Robinson Worldwide Company 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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