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

Sumitomo Mitsui Trust Group Inc. reduced its position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 7.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 290,363 shares of the transportation company’s stock after selling 23,666 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in C.H. Robinson Worldwide were worth $46,679,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC purchased a new position in shares of C.H. Robinson Worldwide in the third quarter worth $27,000. Clearstead Advisors LLC lifted its holdings in shares of C.H. Robinson Worldwide by 110.3% in the third quarter. Clearstead Advisors LLC now owns 244 shares of the transportation company’s stock worth $32,000 after buying an additional 128 shares in the last quarter. Park Place Capital Corp purchased a new position in shares of C.H. Robinson Worldwide in the fourth quarter worth $39,000. Arlington Trust Co LLC purchased a new position in shares of C.H. Robinson Worldwide in the third quarter worth $34,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of C.H. Robinson Worldwide in the third quarter worth $34,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

C.H. Robinson Worldwide Price Performance

C.H. Robinson Worldwide stock opened at $168.08 on Thursday. The company has a market cap of $19.81 billion, a price-to-earnings ratio of 34.80, a PEG ratio of 1.75 and a beta of 0.93. The firm’s fifty day moving average is $176.51 and its 200 day moving average is $163.04. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.59. C.H. Robinson Worldwide, Inc. has a 52-week low of $86.58 and a 52-week high of $203.34.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its quarterly earnings results on Wednesday, January 28th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.11. The company had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.97 billion. C.H. Robinson Worldwide had a net margin of 3.62% and a return on equity of 34.24%. C.H. Robinson Worldwide’s revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 earnings per share. Sell-side analysts forecast that C.H. Robinson Worldwide, Inc. will post 4.83 EPS for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

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

Insider Activity at C.H. Robinson Worldwide

In other C.H. Robinson Worldwide news, CEO David P. Bozeman purchased 1,223 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were bought at an average price of $163.34 per share, with a total value of $199,764.82. Following the completion of the purchase, the chief executive officer directly owned 190,600 shares in the company, valued at $31,132,604. This trade represents a 0.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael D. Castagnetto acquired 594 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were purchased at an average price of $168.24 per share, for a total transaction of $99,934.56. Following the transaction, the insider directly owned 35,488 shares of the company’s stock, valued at approximately $5,970,501.12. The trade was a 1.70% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have bought 2,422 shares of company stock valued at $400,801 and have sold 17,796 shares valued at $3,555,415. Company insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CHRW shares. Benchmark boosted their target price on shares of C.H. Robinson Worldwide from $160.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Susquehanna boosted their target price on shares of C.H. Robinson Worldwide from $210.00 to $220.00 and gave the stock a “positive” rating in a report on Thursday, January 29th. TD Cowen boosted their target price on shares of C.H. Robinson Worldwide from $165.00 to $194.00 and gave the stock a “hold” rating in a report on Thursday, January 29th. Citigroup boosted their target price on shares of C.H. Robinson Worldwide from $177.00 to $202.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Finally, Truist Financial boosted their target price on shares of C.H. Robinson Worldwide from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Fifteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $186.43.

C.H. Robinson Worldwide Profile

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.