C.H. Robinson Worldwide, Inc. $CHRW Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. lessened its stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 5.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 318,100 shares of the transportation company’s stock after selling 17,700 shares during the period. C.H. Robinson Worldwide comprises approximately 1.8% of Hennessy Advisors Inc.’s investment portfolio, making the stock its 5th largest holding. Hennessy Advisors Inc.’s holdings in C.H. Robinson Worldwide were worth $51,138,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP raised its position in shares of C.H. Robinson Worldwide by 198.6% in the third quarter. Wellington Management Group LLP now owns 7,143,297 shares of the transportation company’s stock worth $945,773,000 after acquiring an additional 4,751,034 shares during the period. Westfield Capital Management Co. LP acquired a new position in shares of C.H. Robinson Worldwide during the 3rd quarter valued at about $72,929,000. Raymond James Financial Inc. boosted its position in shares of C.H. Robinson Worldwide by 68.5% during the 3rd quarter. Raymond James Financial Inc. now owns 1,051,312 shares of the transportation company’s stock valued at $139,194,000 after acquiring an additional 427,543 shares during the last quarter. Earnest Partners LLC acquired a new position in shares of C.H. Robinson Worldwide during the 3rd quarter valued at about $54,313,000. Finally, State Street Corp boosted its position in shares of C.H. Robinson Worldwide by 5.7% during the 2nd quarter. State Street Corp now owns 7,420,768 shares of the transportation company’s stock valued at $716,423,000 after acquiring an additional 397,177 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Insider Activity

In related news, insider Arun Rajan bought 605 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was purchased at an average cost of $167.11 per share, with a total value of $101,101.55. Following the purchase, the insider directly owned 133,656 shares of the company’s stock, valued at $22,335,254.16. This trade represents a 0.45% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Angela K. Freeman sold 8,579 shares of the business’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $200.52, for a total value of $1,720,261.08. Following the transaction, the insider directly owned 55,611 shares of the company’s stock, valued at $11,151,117.72. The trade was a 13.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders bought 2,422 shares of company stock worth $400,801 and sold 17,796 shares worth $3,555,415. Corporate insiders own 0.37% of the company’s stock.

C.H. Robinson Worldwide Price Performance

CHRW opened at $182.24 on Monday. The stock’s 50-day moving average price is $175.83 and its 200 day moving average price is $163.95. C.H. Robinson Worldwide, Inc. has a 12-month low of $86.58 and a 12-month high of $203.34. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.59. The firm has a market cap of $21.48 billion, a price-to-earnings ratio of 37.73, a PEG ratio of 1.89 and a beta of 0.93.

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

C.H. Robinson Worldwide Announces Dividend

The firm also recently announced 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. This represents a $2.52 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, March 6th. C.H. Robinson Worldwide’s dividend payout ratio is presently 52.17%.

Analyst Ratings Changes

Several analysts have recently commented on CHRW shares. Stifel Nicolaus lifted their price target on shares of C.H. Robinson Worldwide from $184.00 to $202.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. JPMorgan Chase & Co. raised their price objective on C.H. Robinson Worldwide from $166.00 to $178.00 and gave the stock an “overweight” rating in a research report on Monday, January 12th. Bank of America cut their price objective on C.H. Robinson Worldwide from $225.00 to $219.00 and set a “buy” rating for the company in a research report on Friday, March 27th. TD Cowen raised their price objective on C.H. Robinson Worldwide from $165.00 to $194.00 and gave the stock a “hold” rating in a research report on Thursday, January 29th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $180.00 price objective on shares of C.H. Robinson Worldwide in a research report on Thursday, January 29th. Fifteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $186.43.

About C.H. Robinson Worldwide

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.