State Street Corp Cuts Stock Position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

State Street Corp lessened its position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW - Free Report) by 5.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,642,438 shares of the transportation company's stock after selling 391,259 shares during the period. State Street Corp owned about 5.62% of C.H. Robinson Worldwide worth $737,129,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. D.A. Davidson & CO. boosted its stake in shares of C.H. Robinson Worldwide by 7.1% in the 3rd quarter. D.A. Davidson & CO. now owns 6,709 shares of the transportation company's stock valued at $741,000 after purchasing an additional 443 shares in the last quarter. Chesapeake Capital Corp IL bought a new position in shares of C.H. Robinson Worldwide in the third quarter valued at about $835,000. abrdn plc raised its holdings in shares of C.H. Robinson Worldwide by 2.6% in the third quarter. abrdn plc now owns 508,803 shares of the transportation company's stock valued at $55,818,000 after buying an additional 12,992 shares during the last quarter. Forsta AP Fonden raised its holdings in shares of C.H. Robinson Worldwide by 113.2% in the third quarter. Forsta AP Fonden now owns 82,500 shares of the transportation company's stock valued at $9,106,000 after buying an additional 43,800 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings 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. Institutional investors and hedge funds own 93.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CHRW shares. Barclays lifted their price target on C.H. Robinson Worldwide from $85.00 to $95.00 and gave the company an "underweight" rating in a report on Wednesday, November 13th. Citigroup cut C.H. Robinson Worldwide from a "strong-buy" rating to a "hold" rating in a report on Friday, November 22nd. UBS Group raised C.H. Robinson Worldwide from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $100.00 to $140.00 in a report on Friday, October 4th. Susquehanna dropped their price objective on C.H. Robinson Worldwide from $120.00 to $115.00 and set a "neutral" rating for the company in a report on Friday, November 1st. Finally, The Goldman Sachs Group boosted their price objective on C.H. Robinson Worldwide from $97.00 to $107.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. One equities research 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $109.13.

C.H. Robinson Worldwide Trading Up 2.6 %

Shares of CHRW traded up $2.71 during mid-day trading on Monday, reaching $108.14. 1,225,562 shares of the company were exchanged, compared to its average volume of 1,504,100. C.H. Robinson Worldwide, Inc. has a 52 week low of $65.00 and a 52 week high of $113.10. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market capitalization of $12.78 billion, a PE ratio of 36.48, a PEG ratio of 1.21 and a beta of 0.83. The business has a 50 day simple moving average of $107.87 and a two-hundred day simple moving average of $98.74.

C.H. Robinson Worldwide (NASDAQ:CHRW - Get Free Report) last issued its earnings results on Wednesday, October 30th. The transportation company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.16. The business had revenue of $4.64 billion during the quarter, compared to the consensus estimate of $4.53 billion. C.H. Robinson Worldwide had a return on equity of 30.38% and a net margin of 1.96%. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share. On average, analysts predict that C.H. Robinson Worldwide, Inc. will post 4.38 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

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 issued a $0.62 dividend. The ex-dividend date is Friday, December 6th. This represents a $2.48 dividend on an annualized basis and a yield of 2.29%. C.H. Robinson Worldwide's payout ratio is currently 85.81%.

Insiders Place Their Bets

In related news, insider Michael John Short sold 10,408 shares of C.H. Robinson Worldwide 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 transaction, the insider now owns 70,943 shares of the company's stock, valued at $7,794,507.41. The trade was a 12.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.18% of the stock is currently owned by corporate insiders.

C.H. Robinson Worldwide Company Profile

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.