Pictet Asset Management SA Sells 23,479 Shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Posted by Defense World Staff on Aug 21st, 2023

C.H. Robinson Worldwide logo Pictet Asset Management SA lessened its stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW – Free Report) by 14.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 142,360 shares of the transportation company’s stock after selling 23,479 shares during the period. Pictet Asset Management SA owned about 0.12% of C.H. Robinson Worldwide worth $14,146,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of C.H. Robinson Worldwide by 1,971.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 99,933 shares of the transportation company’s stock valued at $9,930,000 after buying an additional 95,108 shares during the period. Hartford Investment Management Co. lifted its stake in C.H. Robinson Worldwide by 15.8% during the first quarter. Hartford Investment Management Co. now owns 10,877 shares of the transportation company’s stock worth $1,081,000 after purchasing an additional 1,488 shares during the period. Principal Financial Group Inc. lifted its stake in C.H. Robinson Worldwide by 1.3% during the first quarter. Principal Financial Group Inc. now owns 170,999 shares of the transportation company’s stock worth $16,992,000 after purchasing an additional 2,133 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in C.H. Robinson Worldwide by 9.7% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 30,959 shares of the transportation company’s stock worth $3,077,000 after purchasing an additional 2,742 shares during the period. Finally, Archer Investment Corp bought a new position in C.H. Robinson Worldwide during the first quarter worth about $102,000. Institutional investors own 96.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. StockNews.com assumed coverage on shares of C.H. Robinson Worldwide in a research note on Thursday. They set a “hold” rating for the company. Credit Suisse Group cut their price target on shares of C.H. Robinson Worldwide from $93.00 to $92.00 and set an “underperform” rating for the company in a research note on Wednesday, August 16th. Susquehanna cut their price target on shares of C.H. Robinson Worldwide from $93.00 to $88.00 in a research note on Thursday, June 29th. Stifel Nicolaus cut their target price on shares of C.H. Robinson Worldwide from $97.00 to $90.00 and set a “hold” rating for the company in a research note on Wednesday, July 19th. Finally, Loop Capital reduced their target price on C.H. Robinson Worldwide from $105.00 to $102.00 and set a “buy” rating on the stock in a report on Friday. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $94.91.

Read Our Latest Report on CHRW

C.H. Robinson Worldwide Stock Performance

Shares of C.H. Robinson Worldwide stock opened at $94.99 on Monday. The firm has a fifty day moving average of $95.83 and a two-hundred day moving average of $97.76. The stock has a market capitalization of $11.06 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 3.46 and a beta of 0.78. C.H. Robinson Worldwide, Inc. has a 52 week low of $86.60 and a 52 week high of $121.23. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.11 and a current ratio of 1.11.

C.H. Robinson Worldwide (NASDAQ:CHRW – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The transportation company reported $0.90 EPS for the quarter, meeting the consensus estimate of $0.90. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.62 billion. C.H. Robinson Worldwide had a net margin of 2.67% and a return on equity of 39.80%. The business’s revenue for the quarter was down 35.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.67 EPS. As a group, equities research analysts predict that C.H. Robinson Worldwide, Inc. will post 3.74 EPS for the current year.

C.H. Robinson Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Thursday, August 31st. C.H. Robinson Worldwide’s payout ratio is 56.09%.

C.H. Robinson Worldwide Company 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.