C.H. Robinson Worldwide, Inc. $CHRW Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. has reduced its stake in C.H. Robinson Worldwide, Inc. by 4.8%, now owning approximately 941,397 shares valued at $96.40 million.
• C.H. Robinson reported a quarterly revenue of $4.14 billion, which was slightly below analysts' expectations, while its earnings per share exceeded estimates with $1.29.
• The company announced a quarterly dividend of $0.62 per share, translating to an annual yield of 2.0%, to be paid on October 2nd.

Raymond James Financial Inc. cut its holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 4.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 941,397 shares of the transportation company's stock after selling 47,508 shares during the quarter. Raymond James Financial Inc. owned 0.79% of C.H. Robinson Worldwide worth $96,399,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in 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 acquiring an additional 51,207 shares in the last quarter. Boston Partners bought a new stake in C.H. Robinson Worldwide during the first quarter valued at about $234,304,000. Invesco Ltd. increased its holdings in shares of C.H. Robinson Worldwide by 8.4% in the first quarter. Invesco Ltd. now owns 2,285,723 shares of the transportation company's stock worth $234,058,000 after purchasing an additional 176,374 shares during the last quarter. Northern Trust Corp increased its holdings in shares of C.H. Robinson Worldwide by 4.3% in the fourth quarter. Northern Trust Corp now owns 1,306,795 shares of the transportation company's stock worth $135,018,000 after purchasing an additional 53,419 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of C.H. Robinson Worldwide by 25.8% in 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 during the last quarter. 93.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on CHRW. Barclays reiterated an "underweight" rating and issued a $95.00 price target (up previously from $90.00) on shares of C.H. Robinson Worldwide in a research report on Thursday, July 31st. Citigroup lifted their price target on C.H. Robinson Worldwide from $116.00 to $118.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Raymond James Financial set a $111.00 price target on C.H. Robinson Worldwide and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Wolfe Research upgraded C.H. Robinson Worldwide from a "peer perform" rating to an "outperform" rating and set a $112.00 price target for the company in a research report on Tuesday, July 1st. Finally, Stifel Nicolaus boosted their target price on C.H. Robinson Worldwide from $108.00 to $111.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $117.24.

Insider Activity

In other news, insider Arun Rajan sold 2,500 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $121.74, for a total transaction of $304,350.00. Following the sale, the insider directly owned 130,591 shares of the company's stock, valued at $15,898,148.34. The trade was a 1.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Angela K. Freeman sold 5,713 shares of the company's stock in a transaction 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 completion of the sale, the insider directly owned 65,728 shares in the company, valued at approximately $7,640,222.72. The trade was a 8.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,577 shares of company stock valued at $1,714,544 over the last ninety days. 0.91% of the stock is currently owned by insiders.

C.H. Robinson Worldwide Stock Up 1.0%

Shares of CHRW stock traded up $1.23 during trading hours on Monday, reaching $126.41. 1,356,095 shares of the company's stock were exchanged, compared to its average volume of 1,671,120. The stock's 50 day moving average is $105.43 and its 200-day moving average is $99.21. The company has a market cap of $14.93 billion, a price-to-earnings ratio of 28.80, a P/E/G ratio of 1.96 and a beta of 0.86. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.52. C.H. Robinson Worldwide, Inc. has a fifty-two week low of $84.68 and a fifty-two week high of $126.85.

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

C.H. Robinson Worldwide Announces Dividend

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

C.H. Robinson Worldwide Company Profile

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.