Sumitomo Mitsui Trust Group Inc. Sells 23,666 Shares of C.H. Robinson Worldwide, Inc. $CHRW

Key Points

• Sumitomo Mitsui Trust Group trimmed its stake in C.H. Robinson by 7.5%, selling 23,666 shares in Q4 and now holds 290,363 shares (about 0.25% of the company) valued at ~$46.68 million.
• Institutional investors own ~93.15% of CHRW, with Wellington Management boosting its position to 7.14 million shares (~$945.8M); analysts collectively rate the stock a "Moderate Buy" with an average price target of $186.43 after several recent upgrades.
• C.H. Robinson beat quarterly EPS estimates ($1.23 vs. $1.12) despite a 6.5% revenue decline year-over-year, has a market cap of ~$19.8B and pays a $0.63 quarterly dividend (≈1.5% yield).

Sumitomo Mitsui Trust Group Inc. cut its stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 290,363 shares of the transportation company's stock after selling 23,666 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.25% of C.H. Robinson Worldwide worth $46,679,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CHRW. Wellington Management Group LLP grew its stake in shares of C.H. Robinson Worldwide by 198.6% in the third quarter. Wellington Management Group LLP now owns 7,143,297 shares of the transportation company's stock worth $945,773,000 after acquiring an additional 4,751,034 shares during the period. Westfield Capital Management Co. LP bought a new stake in shares of C.H. Robinson Worldwide in the third quarter worth approximately $72,929,000. Raymond James Financial Inc. grew its stake in shares of C.H. Robinson Worldwide by 68.5% in the third quarter. Raymond James Financial Inc. now owns 1,051,312 shares of the transportation company's stock worth $139,194,000 after acquiring an additional 427,543 shares during the period. Earnest Partners LLC bought a new stake in shares of C.H. Robinson Worldwide in the third quarter worth approximately $54,313,000. Finally, State Street Corp grew its stake in shares of C.H. Robinson Worldwide by 5.7% in the second quarter. State Street Corp now owns 7,420,768 shares of the transportation company's stock worth $716,423,000 after acquiring an additional 397,177 shares during the period. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Citigroup lifted their price target on shares of C.H. Robinson Worldwide from $177.00 to $202.00 and gave the stock a "neutral" rating in a research note on Friday, January 30th. Evercore lifted their price target on shares of C.H. Robinson Worldwide from $196.00 to $219.00 and gave the stock an "outperform" rating in a research note on Thursday, January 29th. Wolfe Research restated an "outperform" rating and set a $188.00 target price on shares of C.H. Robinson Worldwide in a research report on Thursday, January 8th. Truist Financial boosted their target price on shares of C.H. Robinson Worldwide from $190.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, January 29th. Finally, Weiss Ratings lowered shares of C.H. Robinson Worldwide from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, February 17th. Fifteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $186.43.

Insiders Place Their Bets

In other news, insider Arun Rajan purchased 605 shares of the company's stock in a transaction on Thursday, February 12th. The stock was acquired at an average cost of $167.11 per share, for a total transaction of $101,101.55. Following the completion of the transaction, the insider directly owned 133,656 shares in the company, valued at $22,335,254.16. This trade represents a 0.45% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Angela K. Freeman sold 8,579 shares of the company's stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $200.52, for a total transaction of $1,720,261.08. Following the completion of the transaction, the insider owned 55,611 shares of the company's stock, valued at approximately $11,151,117.72. The trade was a 13.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders purchased 2,422 shares of company stock valued at $400,801 and sold 17,796 shares valued at $3,555,415. Company insiders own 0.37% of the company's stock.

C.H. Robinson Worldwide Stock Performance

Shares of NASDAQ CHRW opened at $168.08 on Thursday. The firm has a 50 day moving average of $176.51 and a 200 day moving average of $163.04. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $19.81 billion, a price-to-earnings ratio of 34.80, a price-to-earnings-growth ratio of 1.75 and a beta of 0.93. C.H. Robinson Worldwide, Inc. has a 12-month low of $86.58 and a 12-month high of $203.34.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last announced its earnings results on Wednesday, January 28th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.11. The company had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.97 billion. C.H. Robinson Worldwide had a net margin of 3.62% and a return on equity of 34.24%. The firm's quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.21 earnings per share. On average, research analysts anticipate that C.H. Robinson Worldwide, Inc. will post 4.83 earnings per share for the current year.

C.H. Robinson Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Friday, March 6th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, March 6th. C.H. Robinson Worldwide's dividend payout ratio is presently 52.17%.

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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