CIBC Asset Management Inc Trims Holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

CIBC Asset Management Inc decreased its holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 57.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,358 shares of the transportation company’s stock after selling 54,844 shares during the period. CIBC Asset Management Inc’s holdings in C.H. Robinson Worldwide were worth $3,598,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CHRW. BlackRock Inc. increased its stake in shares of C.H. Robinson Worldwide by 3.1% during the third quarter. BlackRock Inc. now owns 17,681,386 shares of the transportation company’s stock valued at $1,538,279,000 after buying an additional 530,386 shares during the period. Pinebridge Investments L.P. increased its stake in shares of C.H. Robinson Worldwide by 3,483.1% during the third quarter. Pinebridge Investments L.P. now owns 32,499 shares of the transportation company’s stock valued at $2,827,000 after buying an additional 31,592 shares during the period. Boston Private Wealth LLC increased its stake in shares of C.H. Robinson Worldwide by 11.3% during the third quarter. Boston Private Wealth LLC now owns 2,475 shares of the transportation company’s stock valued at $215,000 after buying an additional 252 shares during the period. Wilkins Investment Counsel Inc. boosted its position in C.H. Robinson Worldwide by 29.0% during the third quarter. Wilkins Investment Counsel Inc. now owns 41,940 shares of the transportation company’s stock valued at $3,649,000 after purchasing an additional 9,435 shares in the last quarter. Finally, M&G Investment Management Ltd. boosted its position in C.H. Robinson Worldwide by 1.1% during the third quarter. M&G Investment Management Ltd. now owns 13,939 shares of the transportation company’s stock valued at $1,213,000 after purchasing an additional 152 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

In other news, insider Ben G. Campbell sold 19,776 shares of the stock in a transaction dated Tuesday, December 7th. The stock was sold at an average price of $100.00, for a total value of $1,977,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Obrien sold 9,302 shares of the stock in a transaction dated Monday, November 8th. The shares were sold at an average price of $94.32, for a total value of $877,364.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,154 shares of company stock worth $5,759,753. 0.95% of the stock is owned by company insiders.

Several brokerages have weighed in on CHRW. Wells Fargo & Company raised their price target on C.H. Robinson Worldwide from $85.00 to $92.00 and gave the stock an “underweight” rating in a report on Wednesday, October 27th. Vertical Research raised C.H. Robinson Worldwide from a “hold” rating to a “buy” rating in a report on Monday, October 11th. Zacks Investment Research cut C.H. Robinson Worldwide from a “buy” rating to a “hold” rating and set a $113.00 price objective for the company. in a research note on Tuesday, January 4th. Citigroup raised their price objective on C.H. Robinson Worldwide from $115.00 to $125.00 in a research note on Wednesday. Finally, BMO Capital Markets lifted their price target on C.H. Robinson Worldwide from $100.00 to $105.00 and gave the company a “market perform” rating in a research report on Wednesday, October 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $100.58.

Shares of C.H. Robinson Worldwide stock opened at $108.29 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.56. The firm has a market cap of $14.08 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 1.93 and a beta of 0.75. C.H. Robinson Worldwide, Inc. has a 52 week low of $84.67 and a 52 week high of $112.15. The business’s fifty day simple moving average is $101.14 and its 200-day simple moving average is $94.90.

C.H. Robinson Worldwide (NASDAQ:CHRW) last issued its quarterly earnings results on Tuesday, October 26th. The transportation company reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.43. C.H. Robinson Worldwide had a return on equity of 40.08% and a net margin of 3.60%. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter in the prior year, the business earned $1.00 EPS. C.H. Robinson Worldwide’s revenue was up 48.3% on a year-over-year basis. As a group, equities analysts expect that C.H. Robinson Worldwide, Inc. will post 6.36 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, January 3rd. Shareholders of record on Wednesday, December 15th were issued a dividend of $0.55 per share. This is an increase from C.H. Robinson Worldwide’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, December 14th. This represents a $2.20 annualized dividend and a yield of 2.03%. C.H. Robinson Worldwide’s dividend payout ratio is 38.94%.

C.H. Robinson Worldwide Profile

C.H. Robinson Worldwide, Inc engages in the provision of freight transportation services and logistics solutions. It operates through the following three segments: North American Surface Transportation and Global Forwarding. The North American Surface Transportation segment provides freight transportation services across North America through a network of offices in the United States, Canada, and Mexico.

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Institutional Ownership by Quarter for C.H. Robinson Worldwide (NASDAQ:CHRW)

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