C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lowered its holdings in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 19.8% in the second quarter, Holdings Channel reports. The firm owned 10,577 shares of the transportation company’s stock after selling 2,606 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in C.H. Robinson Worldwide were worth $932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Cascade Investment Advisors Inc. increased its position in C.H. Robinson Worldwide by 10.4% in the 1st quarter. Cascade Investment Advisors Inc. now owns 15,350 shares of the transportation company’s stock valued at $1,169,000 after acquiring an additional 1,450 shares during the period. Swedbank AB acquired a new position in C.H. Robinson Worldwide during the 1st quarter worth approximately $1,051,000. BNP Paribas Financial Markets raised its stake in shares of C.H. Robinson Worldwide by 21.0% during the 4th quarter. BNP Paribas Financial Markets now owns 155,894 shares of the transportation company’s stock worth $13,468,000 after buying an additional 27,103 shares in the last quarter. Norden Group LLC acquired a new stake in shares of C.H. Robinson Worldwide in the 1st quarter valued at approximately $4,585,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of C.H. Robinson Worldwide by 13.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 214,098 shares of the transportation company’s stock valued at $16,301,000 after buying an additional 26,156 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Michael John Short sold 10,894 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $98.38, for a total value of $1,071,751.72. Following the completion of the transaction, the insider now directly owns 70,943 shares in the company, valued at $6,979,372.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.47% of the company’s stock.

Wall Street Analysts Forecast Growth

CHRW has been the subject of several research analyst reports. JPMorgan Chase & Co. upgraded C.H. Robinson Worldwide from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $87.00 to $110.00 in a research report on Thursday, August 1st. Bank of America upgraded shares of C.H. Robinson Worldwide from an “underperform” rating to a “buy” rating and raised their price objective for the company from $76.00 to $99.00 in a research note on Monday, July 22nd. Susquehanna upped their target price on shares of C.H. Robinson Worldwide from $90.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Robert W. Baird lifted their price target on shares of C.H. Robinson Worldwide from $88.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, StockNews.com upgraded C.H. Robinson Worldwide from a “sell” rating to a “hold” rating in a report on Friday, June 7th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $93.67.

C.H. Robinson Worldwide Stock Performance

NASDAQ CHRW opened at $103.51 on Monday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.94. C.H. Robinson Worldwide, Inc. has a fifty-two week low of $65.00 and a fifty-two week high of $105.41. The business has a fifty day moving average of $93.45 and a 200-day moving average of $83.01. The stock has a market cap of $12.14 billion, a price-to-earnings ratio of 40.91, a price-to-earnings-growth ratio of 2.09 and a beta of 0.80.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its earnings results on Wednesday, July 31st. The transportation company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.19. C.H. Robinson Worldwide had a net margin of 1.90% and a return on equity of 27.84%. The firm had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter in the previous year, the company posted $0.90 EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, analysts predict that C.H. Robinson Worldwide, Inc. will post 4.13 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be issued a $0.62 dividend. The ex-dividend date is Friday, September 6th. This is an increase from C.H. Robinson Worldwide’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 2.40%. C.H. Robinson Worldwide’s payout ratio is 96.44%.

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.