QRG Capital Management Inc. Grows Position in C.H. Robinson Worldwide, Inc. $CHRW

Key Points

• QRG Capital Management increased its C.H. Robinson Worldwide position by 9,753.7% in the second quarter, acquiring 246,282 additional shares and bringing its holdings to 248,807 shares valued at approximately $45 million.
• C.H. Robinson reported quarterly earnings of $1.61 per share, exceeding estimates of $1.53, while revenue rose 19.3% year over year to $4.93 billion. The company also declared a quarterly dividend of $0.63 per share, representing a 1.7% yield.
• The stock recently traded at $149.67, below its 52-week high of $210.33. Wall Street maintains a “Moderate Buy” consensus rating with an average price target of $196.56.

QRG Capital Management Inc. boosted its position in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 9,753.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 248,807 shares of the transportation company's stock after buying an additional 246,282 shares during the period. QRG Capital Management Inc. owned 0.21% of C.H. Robinson Worldwide worth $45,031,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vestcor Inc grew its position in shares of C.H. Robinson Worldwide by 0.8% during the fourth quarter. Vestcor Inc now owns 6,403 shares of the transportation company's stock worth $1,029,000 after acquiring an additional 51 shares during the last quarter. Dogwood Wealth Management LLC increased its holdings in shares of C.H. Robinson Worldwide by 37.8% in the 2nd quarter. Dogwood Wealth Management LLC now owns 237 shares of the transportation company's stock valued at $45,000 after acquiring an additional 65 shares during the period. Cornerstone Planning Group LLC raised its position in C.H. Robinson Worldwide by 57.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 184 shares of the transportation company's stock valued at $31,000 after purchasing an additional 67 shares during the last quarter. Millstone Evans Group LLC raised its position in C.H. Robinson Worldwide by 79.8% in the 1st quarter. Millstone Evans Group LLC now owns 160 shares of the transportation company's stock valued at $27,000 after purchasing an additional 71 shares during the last quarter. Finally, Root Financial Partners LLC boosted its stake in C.H. Robinson Worldwide by 8.7% during the 1st quarter. Root Financial Partners LLC now owns 933 shares of the transportation company's stock worth $155,000 after purchasing an additional 75 shares during the period. Hedge funds and other institutional investors own 93.15% of the company's stock.

C.H. Robinson Worldwide Stock Performance

C.H. Robinson Worldwide stock traded up $0.11 during trading hours on Wednesday, reaching $149.67. 1,267,220 shares of the stock were exchanged, compared to its average volume of 1,954,676. C.H. Robinson Worldwide, Inc. has a 52-week low of $123.64 and a 52-week high of $210.33. The stock has a market cap of $17.49 billion, a P/E ratio of 28.56, a P/E/G ratio of 1.29 and a beta of 0.94. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.58 and a current ratio of 1.58. The firm's 50 day moving average is $159.10 and its 200 day moving average is $171.40.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last issued its earnings results on Wednesday, July 29th. The transportation company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.08. The business had revenue of $4.93 billion for the quarter, compared to the consensus estimate of $4.35 billion. C.H. Robinson Worldwide had a net margin of 3.73% and a return on equity of 38.36%. The business's quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.29 earnings per share. Analysts predict that C.H. Robinson Worldwide, Inc. will post 6.18 EPS for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 4th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 4th. C.H. Robinson Worldwide's payout ratio is currently 48.09%.

Wall Street Analyst Weigh In

CHRW has been the topic of a number of recent research reports. Susquehanna lifted their price objective on shares of C.H. Robinson Worldwide from $215.00 to $226.00 and gave the company a "positive" rating in a research note on Tuesday, July 14th. TD Cowen decreased their target price on shares of C.H. Robinson Worldwide from $155.00 to $152.00 and set a "hold" rating for the company in a research note on Tuesday, July 28th. Robert W. Baird lowered their price target on C.H. Robinson Worldwide from $230.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, July 28th. Citigroup upgraded C.H. Robinson Worldwide from a "neutral" rating to a "buy" rating and dropped their price target for the company from $196.00 to $185.00 in a research report on Tuesday, September 8th. Finally, BMO Capital Markets upped their price objective on C.H. Robinson Worldwide from $180.00 to $190.00 and gave the company a "market perform" rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, C.H. Robinson Worldwide has a consensus rating of "Moderate Buy" and a consensus price target of $196.56.

About C.H. Robinson Worldwide

C.H. Robinson Worldwide, Inc is a global third-party logistics provider that connects shippers with transportation carriers and other supply-chain service providers. The company helps businesses plan, manage and execute the movement of freight across road, rail, ocean and air networks.

Its services include truckload and less-than-truckload freight brokerage, intermodal transportation, ocean and air forwarding, customs and trade compliance, transportation management, warehousing and supply-chain consulting.

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