C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) Shares Sold by Palisade Asset Management LLC

Palisade Asset Management LLC lowered its stake in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,120 shares of the transportation company’s stock after selling 2,024 shares during the period. Palisade Asset Management LLC’s holdings in C.H. Robinson Worldwide were worth $3,812,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in shares of C.H. Robinson Worldwide by 20.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,687,367 shares of the transportation company’s stock worth $145,333,000 after purchasing an additional 280,938 shares during the last quarter. Invesco Ltd. grew its position in C.H. Robinson Worldwide by 15.0% in the third quarter. Invesco Ltd. now owns 2,147,744 shares of the transportation company’s stock worth $184,985,000 after acquiring an additional 280,177 shares during the period. Northern Trust Corp increased its stake in C.H. Robinson Worldwide by 15.9% during the third quarter. Northern Trust Corp now owns 1,536,430 shares of the transportation company’s stock worth $132,333,000 after acquiring an additional 211,089 shares during the last quarter. Sasco Capital Inc. CT purchased a new position in shares of C.H. Robinson Worldwide during the 3rd quarter worth $16,790,000. Finally, Royal Bank of Canada increased its position in shares of C.H. Robinson Worldwide by 13.0% during the 3rd quarter. Royal Bank of Canada now owns 1,338,395 shares of the transportation company’s stock worth $115,275,000 after purchasing an additional 154,381 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

C.H. Robinson Worldwide Stock Performance

NASDAQ CHRW traded up $1.44 on Wednesday, reaching $80.97. The stock had a trading volume of 1,173,911 shares, compared to its average volume of 1,672,370. The stock has a market cap of $9.47 billion, a P/E ratio of 31.43, a price-to-earnings-growth ratio of 3.98 and a beta of 0.75. C.H. Robinson Worldwide, Inc. has a 12-month low of $65.00 and a 12-month high of $102.63. The business’s 50-day moving average price is $73.06 and its 200 day moving average price is $78.99. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.40 and a current ratio of 1.37.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its earnings results on Wednesday, May 1st. The transportation company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.26. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.27 billion. C.H. Robinson Worldwide had a net margin of 1.74% and a return on equity of 26.34%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 earnings per share. As a group, equities analysts expect that C.H. Robinson Worldwide, Inc. will post 3.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. StockNews.com upgraded C.H. Robinson Worldwide from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Stifel Nicolaus upped their price objective on C.H. Robinson Worldwide from $84.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Wolfe Research upgraded C.H. Robinson Worldwide from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 11th. Susquehanna raised their target price on shares of C.H. Robinson Worldwide from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of C.H. Robinson Worldwide from $70.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $82.60.

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.