CIBC Asset Management Inc Boosts Stock Holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

CIBC Asset Management Inc boosted its position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 7.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 19,177 shares of the transportation company’s stock after purchasing an additional 1,252 shares during the period. CIBC Asset Management Inc’s holdings in C.H. Robinson Worldwide were worth $2,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Quent Capital LLC increased its holdings in C.H. Robinson Worldwide by 94.8% in the 2nd quarter. Quent Capital LLC now owns 300 shares of the transportation company’s stock worth $26,000 after acquiring an additional 146 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in C.H. Robinson Worldwide by 168.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 295 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 185 shares during the last quarter. Venturi Wealth Management LLC increased its stake in shares of C.H. Robinson Worldwide by 83.5% in the third quarter. Venturi Wealth Management LLC now owns 244 shares of the transportation company’s stock worth $27,000 after purchasing an additional 111 shares in the last quarter. Eastern Bank purchased a new position in shares of C.H. Robinson Worldwide in the third quarter worth about $54,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of C.H. Robinson Worldwide in the third quarter valued at approximately $55,000. 93.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on CHRW shares. Benchmark lifted their price objective on shares of C.H. Robinson Worldwide from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Susquehanna decreased their price objective on C.H. Robinson Worldwide from $120.00 to $115.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Wells Fargo & Company lifted their target price on C.H. Robinson Worldwide from $94.00 to $106.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Evercore ISI increased their price target on shares of C.H. Robinson Worldwide from $112.00 to $122.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Finally, Citigroup raised shares of C.H. Robinson Worldwide from a “neutral” rating to a “buy” rating and upped their target price for the stock from $110.00 to $127.00 in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $107.63.

C.H. Robinson Worldwide Stock Down 0.8 %

Shares of CHRW opened at $109.08 on Wednesday. C.H. Robinson Worldwide, Inc. has a 1 year low of $65.00 and a 1 year high of $113.10. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a 50 day simple moving average of $107.08 and a two-hundred day simple moving average of $96.52. The firm has a market cap of $12.89 billion, a P/E ratio of 37.74, a P/E/G ratio of 1.27 and a beta of 0.84.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its quarterly earnings data on Wednesday, October 30th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.16. The company had revenue of $4.64 billion during the quarter, compared to analysts’ expectations of $4.53 billion. C.H. Robinson Worldwide had a net margin of 1.96% and a return on equity of 30.38%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 EPS. On average, analysts forecast that C.H. Robinson Worldwide, Inc. will post 4.37 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, January 2nd. Stockholders of record on Friday, December 6th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.27%. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is currently 85.81%.

Insider Transactions at C.H. Robinson Worldwide

In other news, insider Michael John Short sold 10,408 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $109.87, for a total value of $1,143,526.96. Following the transaction, the insider now owns 70,943 shares in the company, valued at approximately $7,794,507.41. This trade represents a 12.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.18% of the company’s stock.

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.