C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) Short Interest Update
by Danessa Lincoln · The Markets DailyC.H. Robinson Worldwide, Inc. (NASDAQ:CHRW – Get Free Report) saw a large decrease in short interest in the month of January. As of January 30th, there was short interest totaling 7,454,854 shares, a decrease of 13.9% from the January 15th total of 8,661,243 shares. Approximately 6.4% of the shares of the stock are sold short. Based on an average daily volume of 2,394,604 shares, the days-to-cover ratio is presently 3.1 days. Based on an average daily volume of 2,394,604 shares, the days-to-cover ratio is presently 3.1 days. Approximately 6.4% of the shares of the stock are sold short.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the stock. Loop Capital set a $206.00 price objective on shares of C.H. Robinson Worldwide in a report on Monday, February 2nd. Susquehanna upped their price target on shares of C.H. Robinson Worldwide from $210.00 to $220.00 and gave the stock a “positive” rating in a research report on Thursday, January 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $200.00 price target on shares of C.H. Robinson Worldwide in a research note on Thursday, January 29th. Stephens set a $173.00 price objective on C.H. Robinson Worldwide in a research note on Thursday, October 30th. Finally, Wolfe Research reissued an “outperform” rating and set a $188.00 target price on shares of C.H. Robinson Worldwide in a report on Thursday, January 8th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, C.H. Robinson Worldwide has an average rating of “Moderate Buy” and an average target price of $181.29.
Read Our Latest Stock Analysis on C.H. Robinson Worldwide
Insider Activity at C.H. Robinson Worldwide
In other C.H. Robinson Worldwide news, CEO David P. Bozeman acquired 1,223 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were bought at an average cost of $163.34 per share, with a total value of $199,764.82. Following the completion of the acquisition, the chief executive officer owned 190,600 shares in the company, valued at approximately $31,132,604. This trade represents a 0.65% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael D. Castagnetto sold 2,849 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $194.20, for a total value of $553,275.80. Following the completion of the sale, the insider owned 28,149 shares of the company’s stock, valued at $5,466,535.80. This trade represents a 9.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have bought 2,422 shares of company stock valued at $400,801 and have sold 21,416 shares valued at $4,157,630. Company insiders own 0.91% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of CHRW. Wellington Management Group LLP increased its position 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 last quarter. Norges Bank purchased a new stake in shares of C.H. Robinson Worldwide in the 4th quarter valued at approximately $236,665,000. Boston Partners increased its holdings in shares of C.H. Robinson Worldwide by 53.0% during the 2nd quarter. Boston Partners now owns 3,518,118 shares of the transportation company’s stock worth $340,646,000 after buying an additional 1,218,968 shares during the last quarter. Capital World Investors purchased a new stake in shares of C.H. Robinson Worldwide during the 4th quarter valued at approximately $165,976,000. Finally, Bank of New York Mellon Corp raised its position in shares of C.H. Robinson Worldwide by 78.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,013,745 shares of the transportation company’s stock valued at $193,219,000 after buying an additional 884,160 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.
C.H. Robinson Worldwide Stock Up 4.9%
CHRW stock opened at $176.02 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.59 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average of $174.07 and a two-hundred day moving average of $149.14. C.H. Robinson Worldwide has a 12 month low of $84.68 and a 12 month high of $203.34. The company has a market cap of $20.80 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 1.85 and a beta of 0.89.
C.H. Robinson Worldwide (NASDAQ:CHRW – Get Free Report) last issued its earnings results on Wednesday, January 28th. The transportation company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.11. C.H. Robinson Worldwide had a return on equity of 34.24% and a net margin of 3.62%.The business had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the previous year, the firm posted $1.21 EPS. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. As a group, analysts forecast that C.H. Robinson Worldwide will post 4.83 earnings per share for the current fiscal year.
C.H. Robinson Worldwide Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Friday, March 6th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.4%. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is 52.17%.
About C.H. Robinson Worldwide
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.