Resona Asset Management Co. Ltd. Lowers Stake in C.H. Robinson Worldwide, Inc. $CHRW

Resona Asset Management Co. Ltd. cut its stake in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 6.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,022 shares of the transportation company’s stock after selling 3,644 shares during the period. Resona Asset Management Co. Ltd.’s holdings in C.H. Robinson Worldwide were worth $8,563,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CHRW. Goldman Sachs Group Inc. grew its stake in C.H. Robinson Worldwide by 3.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 804,215 shares of the transportation company’s stock worth $82,352,000 after acquiring an additional 24,788 shares in the last quarter. United Services Automobile Association bought a new stake in shares of C.H. Robinson Worldwide during the first quarter valued at approximately $259,000. Empowered Funds LLC raised its stake in shares of C.H. Robinson Worldwide by 2.3% during the first quarter. Empowered Funds LLC now owns 15,516 shares of the transportation company’s stock valued at $1,589,000 after acquiring an additional 350 shares in the last quarter. Woodline Partners LP boosted its holdings in shares of C.H. Robinson Worldwide by 41.3% in the first quarter. Woodline Partners LP now owns 10,029 shares of the transportation company’s stock valued at $1,027,000 after purchasing an additional 2,930 shares during the period. Finally, Focus Partners Wealth boosted its holdings in shares of C.H. Robinson Worldwide by 9.9% in the first quarter. Focus Partners Wealth now owns 3,974 shares of the transportation company’s stock valued at $407,000 after purchasing an additional 359 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

C.H. Robinson Worldwide Stock Up 0.4%

CHRW stock traded up $0.74 during trading on Friday, hitting $193.50. 991,092 shares of the company’s stock traded hands, compared to its average volume of 1,320,704. The firm has a market capitalization of $22.81 billion, a P/E ratio of 39.17, a PEG ratio of 1.67 and a beta of 0.91. C.H. Robinson Worldwide, Inc. has a 1 year low of $96.27 and a 1 year high of $203.34. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.79. The business has a fifty day simple moving average of $180.76 and a two-hundred day simple moving average of $178.06.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its earnings results on Wednesday, April 29th. The transportation company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.11. The company had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.05 billion. C.H. Robinson Worldwide had a return on equity of 35.49% and a net margin of 3.70%.C.H. Robinson Worldwide’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.17 earnings per share. Sell-side analysts anticipate that C.H. Robinson Worldwide, Inc. will post 6.09 EPS for the current year.

C.H. Robinson Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 5th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, June 5th. C.H. Robinson Worldwide’s dividend payout ratio is 51.01%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Stifel Nicolaus raised their price objective on C.H. Robinson Worldwide from $202.00 to $207.00 and gave the stock a “buy” rating in a report on Friday, May 1st. JPMorgan Chase & Co. upped their target price on C.H. Robinson Worldwide from $180.00 to $196.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Wells Fargo & Company increased their price target on C.H. Robinson Worldwide from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Wall Street Zen lowered C.H. Robinson Worldwide from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Finally, Bank of America decreased their price objective on C.H. Robinson Worldwide from $225.00 to $219.00 and set a “buy” rating for the company in a report on Friday, March 27th. Sixteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, C.H. Robinson Worldwide currently has a consensus rating of “Moderate Buy” and an average target price of $195.57.

C.H. Robinson Worldwide Profile

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.