C.H. Robinson Worldwide (NASDAQ:CHRW) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of C.H. Robinson Worldwide (NASDAQ:CHRW) from an equal weight rating to an overweight rating in a research note released on Monday, MarketBeat.com reports. Wells Fargo & Company currently has $130.00 price target on the transportation company’s stock, up from their previous price target of $118.00.

Several other research analysts have also commented on the company. Barclays raised their price objective on C.H. Robinson Worldwide from $85.00 to $95.00 and gave the company an “underweight” rating in a research report on Wednesday, November 13th. Citigroup downgraded C.H. Robinson Worldwide from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. UBS Group upgraded C.H. Robinson Worldwide from a “neutral” rating to a “buy” rating and upped their price target for the stock from $100.00 to $140.00 in a report on Friday, October 4th. BMO Capital Markets lifted their price objective on shares of C.H. Robinson Worldwide from $92.00 to $115.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Finally, Susquehanna cut their price objective on shares of C.H. Robinson Worldwide from $120.00 to $115.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $109.13.

C.H. Robinson Worldwide Price Performance

CHRW stock opened at $109.13 on Monday. The company has a market cap of $12.90 billion, a PE ratio of 37.76, a price-to-earnings-growth ratio of 1.21 and a beta of 0.83. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.86. The stock has a 50-day moving average price of $107.82 and a two-hundred day moving average price of $99.13. C.H. Robinson Worldwide has a 12-month low of $65.00 and a 12-month high of $113.10.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its quarterly earnings results on Wednesday, October 30th. The transportation company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.16. C.H. Robinson Worldwide had a net margin of 1.96% and a return on equity of 30.38%. The firm had revenue of $4.64 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same period in the previous year, the company posted $0.84 earnings per share. C.H. Robinson Worldwide’s revenue was up 7.0% compared to the same quarter last year. As a group, research analysts predict that C.H. Robinson Worldwide will post 4.38 EPS for the current year.

C.H. Robinson Worldwide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Friday, December 6th. C.H. Robinson Worldwide’s dividend payout ratio is 85.81%.

Insider Transactions at C.H. Robinson Worldwide

In related news, insider Michael John Short sold 10,408 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $109.87, for a total transaction of $1,143,526.96. Following the completion of the transaction, the insider now owns 70,943 shares in the company, valued at $7,794,507.41. This trade represents a 12.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.47% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. D.A. Davidson & CO. boosted its position in shares of C.H. Robinson Worldwide by 7.1% during the third quarter. D.A. Davidson & CO. now owns 6,709 shares of the transportation company’s stock worth $741,000 after purchasing an additional 443 shares in the last quarter. Chesapeake Capital Corp IL bought a new position in C.H. Robinson Worldwide in the third quarter valued at approximately $835,000. abrdn plc increased its holdings in C.H. Robinson Worldwide by 2.6% during the third quarter. abrdn plc now owns 508,803 shares of the transportation company’s stock worth $55,818,000 after buying an additional 12,992 shares during the last quarter. Forsta AP Fonden increased its stake in shares of C.H. Robinson Worldwide by 113.2% during the 3rd quarter. Forsta AP Fonden now owns 82,500 shares of the transportation company’s stock worth $9,106,000 after purchasing an additional 43,800 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of C.H. Robinson Worldwide by 62.3% in the third quarter. Victory Capital Management Inc. now owns 32,158 shares of the transportation company’s stock valued at $3,549,000 after buying an additional 12,348 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

About C.H. Robinson Worldwide

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.