C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) Position Cut by Sumitomo Mitsui Trust Holdings Inc.

Posted by Defense World Staff on Jul 19th, 2023

C.H. Robinson Worldwide logo Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW – Free Report) by 18.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 456,934 shares of the transportation company’s stock after selling 106,736 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.40% of C.H. Robinson Worldwide worth $45,406,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Denali Advisors LLC grew its holdings in C.H. Robinson Worldwide by 33.3% in the 4th quarter. Denali Advisors LLC now owns 400 shares of the transportation company’s stock worth $37,000 after buying an additional 100 shares in the last quarter. Phoenix Wealth Advisors lifted its position in C.H. Robinson Worldwide by 4.6% in the fourth quarter. Phoenix Wealth Advisors now owns 2,424 shares of the transportation company’s stock worth $222,000 after purchasing an additional 106 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in C.H. Robinson Worldwide by 75.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 260 shares of the transportation company’s stock worth $26,000 after purchasing an additional 112 shares during the period. Penserra Capital Management LLC lifted its position in C.H. Robinson Worldwide by 8.8% in the first quarter. Penserra Capital Management LLC now owns 1,393 shares of the transportation company’s stock worth $138,000 after purchasing an additional 113 shares during the period. Finally, First Republic Investment Management Inc. lifted its position in C.H. Robinson Worldwide by 0.8% in the first quarter. First Republic Investment Management Inc. now owns 15,472 shares of the transportation company’s stock worth $1,666,000 after purchasing an additional 116 shares during the period. 96.63% of the stock is owned by institutional investors.

C.H. Robinson Worldwide Trading Up 1.1 %

NASDAQ CHRW opened at $95.90 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $11.17 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 3.31 and a beta of 0.79. C.H. Robinson Worldwide, Inc. has a 1-year low of $86.60 and a 1-year high of $121.23. The firm’s fifty day simple moving average is $95.85 and its 200-day simple moving average is $97.29.

C.H. Robinson Worldwide (NASDAQ:CHRW – Get Free Report) last posted its quarterly earnings data on Wednesday, April 26th. The transportation company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.03). C.H. Robinson Worldwide had a return on equity of 50.56% and a net margin of 3.50%. The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the previous year, the firm posted $2.05 earnings per share. The company’s revenue for the quarter was down 32.3% on a year-over-year basis. As a group, sell-side analysts anticipate that C.H. Robinson Worldwide, Inc. will post 3.93 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Friday, June 2nd were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend was Thursday, June 1st. C.H. Robinson Worldwide’s payout ratio is 39.29%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CHRW. Citigroup restated a “neutral” rating and issued a $94.00 target price on shares of C.H. Robinson Worldwide in a research report on Friday, June 30th. Evercore ISI cut their target price on C.H. Robinson Worldwide from $91.00 to $89.00 in a research report on Tuesday, June 27th. Susquehanna cut their target price on C.H. Robinson Worldwide from $93.00 to $88.00 in a research report on Thursday, June 29th. Wells Fargo & Company cut their price objective on C.H. Robinson Worldwide from $95.00 to $90.00 and set an “underweight” rating for the company in a research report on Wednesday, April 12th. Finally, Stifel Nicolaus increased their price objective on C.H. Robinson Worldwide from $92.00 to $97.00 in a research report on Friday, April 28th. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, C.H. Robinson Worldwide presently has an average rating of “Hold” and an average target price of $94.95.

Insider Buying and Selling at C.H. Robinson Worldwide

In other news, insider Michael John Short sold 16,155 shares of C.H. Robinson Worldwide stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $104.56, for a total value of $1,689,166.80. Following the completion of the transaction, the insider now owns 75,937 shares in the company, valued at $7,939,972.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other C.H. Robinson Worldwide news, insider Michael John Short sold 16,155 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $104.56, for a total transaction of $1,689,166.80. Following the completion of the sale, the insider now owns 75,937 shares in the company, valued at approximately $7,939,972.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mac S. Pinkerton sold 7,624 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $101.57, for a total transaction of $774,369.68. Following the completion of the transaction, the insider now directly owns 87,001 shares of the company’s stock, valued at approximately $8,836,691.57. The disclosure for this sale can be found here. Company insiders own 1.47% of the company’s stock.

C.H. Robinson Worldwide Profile

(Free Report)

C.H. Robinson Worldwide, Inc, together with its subsidiaries, provides freight transportation services, and related logistics and supply chain services worldwide. The company operates in two segments, North American Surface Transportation and Global Forwarding. It 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.