Kentucky Retirement Systems Cuts Stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Kentucky Retirement Systems reduced its stake in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,171 shares of the transportation company’s stock after selling 653 shares during the quarter. Kentucky Retirement Systems’ holdings in C.H. Robinson Worldwide were worth $902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of C.H. Robinson Worldwide by 1.3% in the first quarter. Vanguard Group Inc. now owns 14,215,203 shares of the transportation company’s stock valued at $1,082,346,000 after purchasing an additional 177,119 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of C.H. Robinson Worldwide by 26.3% in the second 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 in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of C.H. Robinson Worldwide by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 1,315,488 shares of the transportation company’s stock valued at $115,921,000 after purchasing an additional 34,632 shares in the last quarter. Interval Partners LP purchased a new position in shares of C.H. Robinson Worldwide in the second quarter valued at $82,581,000. Finally, Pzena Investment Management LLC grew its holdings in shares of C.H. Robinson Worldwide by 0.5% in the second quarter. Pzena Investment Management LLC now owns 877,727 shares of the transportation company’s stock valued at $77,345,000 after purchasing an additional 4,679 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CHRW has been the subject of a number of recent research reports. Barclays raised their target price on shares of C.H. Robinson Worldwide from $85.00 to $95.00 and gave the company an “underweight” rating in a report on Wednesday, November 13th. Wells Fargo & Company raised their target price on shares of C.H. Robinson Worldwide from $94.00 to $106.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Robert W. Baird lifted their price objective on shares of C.H. Robinson Worldwide from $88.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Evercore ISI lifted their price objective on shares of C.H. Robinson Worldwide from $112.00 to $122.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, BMO Capital Markets lifted their price objective on shares of C.H. Robinson Worldwide from $92.00 to $115.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $107.63.

C.H. Robinson Worldwide Stock Performance

CHRW stock opened at $109.08 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.49 and a quick ratio of 1.49. The business has a 50-day moving average price of $107.08 and a 200 day moving average price of $96.52. The company has a market capitalization of $12.89 billion, a P/E ratio of 37.74, a PEG ratio of 1.27 and a beta of 0.84. 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 released its quarterly earnings data on Wednesday, October 30th. The transportation company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.16. The firm 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 quarterly revenue 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. As a group, equities research analysts forecast that C.H. Robinson Worldwide, Inc. will post 4.37 EPS for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors 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 annualized dividend and a dividend yield of 2.27%. C.H. Robinson Worldwide’s payout ratio is currently 85.81%.

Insider Activity at C.H. Robinson Worldwide

In other C.H. Robinson Worldwide news, insider Michael John Short sold 10,408 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $109.87, for a total value of $1,143,526.96. Following the completion of the transaction, the insider now directly owns 70,943 shares in the company, valued at approximately $7,794,507.41. The trade was a 12.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.18% of the stock is currently owned by corporate insiders.

C.H. Robinson Worldwide 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.