Norges Bank Invests $236.67 Million in C.H. Robinson Worldwide, Inc. $CHRW

Norges Bank purchased a new position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,472,165 shares of the transportation company’s stock, valued at approximately $236,665,000.

A number of other institutional investors also recently bought and sold shares of CHRW. Wellington Management Group LLP raised its stake in C.H. Robinson Worldwide by 198.6% during the third quarter. Wellington Management Group LLP now owns 7,143,297 shares of the transportation company’s stock worth $945,773,000 after purchasing an additional 4,751,034 shares during the period. Westfield Capital Management Co. LP purchased a new position in C.H. Robinson Worldwide during the third quarter worth about $72,929,000. William Blair Investment Management LLC purchased a new position in C.H. Robinson Worldwide during the fourth quarter worth about $70,333,000. Raymond James Financial Inc. raised its stake in C.H. Robinson Worldwide by 68.5% during the third quarter. Raymond James Financial Inc. now owns 1,051,312 shares of the transportation company’s stock worth $139,194,000 after purchasing an additional 427,543 shares during the period. Finally, Earnest Partners LLC purchased a new position in C.H. Robinson Worldwide during the third quarter worth about $54,313,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CHRW has been the topic of a number of analyst reports. Bank of America reduced their target price on shares of C.H. Robinson Worldwide from $225.00 to $219.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Weiss Ratings downgraded shares of C.H. Robinson Worldwide from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. TD Cowen lifted their target price on shares of C.H. Robinson Worldwide from $194.00 to $196.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Citigroup raised shares of C.H. Robinson Worldwide from a “neutral” rating to a “buy” rating and set a $199.00 target price on the stock in a research note on Friday, May 15th. Finally, UBS Group lifted their target price on shares of C.H. Robinson Worldwide from $224.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday. Seventeen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, C.H. Robinson Worldwide has a consensus rating of “Moderate Buy” and a consensus target price of $195.65.

C.H. Robinson Worldwide Price Performance

C.H. Robinson Worldwide stock opened at $178.52 on Wednesday. The company’s 50 day simple moving average is $172.89 and its 200-day simple moving average is $172.08. The company has a market capitalization of $21.04 billion, a price-to-earnings ratio of 36.14, a price-to-earnings-growth ratio of 1.55 and a beta of 0.91. C.H. Robinson Worldwide, Inc. has a 1 year low of $92.36 and a 1 year high of $203.34. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.59 and a current ratio of 1.59.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.11. The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.05 billion. C.H. Robinson Worldwide had a net margin of 3.70% and a return on equity of 35.49%. The business’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 EPS. As a group, equities research analysts expect that C.H. Robinson Worldwide, Inc. will post 6.09 earnings per share for the current year.

C.H. Robinson Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 5th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, June 5th. C.H. Robinson Worldwide’s payout ratio is 51.01%.

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.