C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 1.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 344,316 shares of the transportation company’s stock after buying an additional 3,436 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in C.H. Robinson Worldwide were worth $38,002,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Swedbank AB acquired a new position in shares of C.H. Robinson Worldwide in the 1st quarter valued at $1,051,000. abrdn plc boosted its stake in 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 acquiring an additional 12,992 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of C.H. Robinson Worldwide during the first quarter worth about $6,665,000. Forsta AP Fonden increased its position in shares of C.H. Robinson Worldwide by 113.2% during the third quarter. Forsta AP Fonden now owns 82,500 shares of the transportation company’s stock worth $9,106,000 after purchasing an additional 43,800 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of C.H. Robinson Worldwide by 26.3% in the 2nd quarter. ProShare Advisors LLC now owns 2,528,787 shares of the transportation company’s stock valued at $222,837,000 after purchasing an additional 526,872 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

C.H. Robinson Worldwide Trading Down 1.2 %

Shares of CHRW stock opened at $110.19 on Friday. The business’s fifty day moving average price is $106.75 and its 200 day moving average price is $95.95. The firm has a market capitalization of $13.03 billion, a PE ratio of 38.13, a P/E/G ratio of 1.29 and a beta of 0.84. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.49 and a quick ratio of 1.49. C.H. Robinson Worldwide, Inc. has a 1-year low of $65.00 and a 1-year high of $113.10.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly 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. C.H. Robinson Worldwide had a net margin of 1.96% and a return on equity of 30.38%. The business had revenue of $4.64 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same period in the prior year, the company posted $0.84 EPS. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, sell-side analysts forecast that C.H. Robinson Worldwide, Inc. will post 4.37 EPS for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.25%. C.H. Robinson Worldwide’s payout ratio is 85.81%.

Insider Transactions at C.H. Robinson Worldwide

In other news, insider Michael John Short sold 10,408 shares of C.H. Robinson Worldwide stock in a transaction 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 completion of 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 position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.47% of the company’s stock.

Wall Street Analysts Forecast Growth

CHRW has been the topic of a number of research reports. Bank of America upgraded C.H. Robinson Worldwide from an “underperform” rating to a “buy” rating and raised their price target for the stock from $76.00 to $99.00 in a research note on Monday, July 22nd. BMO Capital Markets lifted their target price on shares of C.H. Robinson Worldwide from $92.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Barclays upped their price target on shares of C.H. Robinson Worldwide from $85.00 to $95.00 and gave the company an “underweight” rating in a research report on Wednesday. JPMorgan Chase & Co. upgraded shares of C.H. Robinson Worldwide from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $87.00 to $110.00 in a research note on Thursday, August 1st. Finally, Citigroup upgraded shares of C.H. Robinson Worldwide from a “neutral” rating to a “buy” rating and increased their target price for the stock from $110.00 to $127.00 in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $107.63.

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.