C.H. Robinson Worldwide, Inc. $CHRW Shares Newly Bought by Riverbend Wealth Management LLC

Riverbend Wealth Management LLC acquired a new position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,517 shares of the transportation company’s stock, valued at approximately $520,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. WCM Investment Management LLC bought a new position in C.H. Robinson Worldwide in the 1st quarter valued at about $579,922,000. Dimensional Fund Advisors LP raised its position in shares of C.H. Robinson Worldwide by 2.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,094,992 shares of the transportation company’s stock worth $181,810,000 after buying an additional 25,674 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of C.H. Robinson Worldwide by 13.7% in the 1st quarter. Bank of America Corp DE now owns 1,055,602 shares of the transportation company’s stock worth $175,304,000 after acquiring an additional 127,103 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of C.H. Robinson Worldwide in the 2nd quarter worth approximately $172,626,000. Finally, Hamlin Capital Management LLC acquired a new stake in shares of C.H. Robinson Worldwide in the 3rd quarter worth approximately $123,176,000. Institutional investors own 93.15% of the company’s stock.

C.H. Robinson Worldwide Price Performance

NASDAQ:CHRW opened at $143.82 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.04. The business’s 50-day moving average price is $147.40 and its 200 day moving average price is $168.05. C.H. Robinson Worldwide, Inc. has a 52-week low of $125.35 and a 52-week high of $210.33. The firm has a market cap of $16.81 billion, a P/E ratio of 27.45, a PEG ratio of 1.16 and a beta of 0.94.

C.H. Robinson Worldwide (NASDAQ:CHRW) last issued its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.08. C.H. Robinson Worldwide had a net margin of 3.73% and a return on equity of 38.36%. The company had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same period in the prior year, the company earned $1.29 EPS. C.H. Robinson Worldwide’s revenue was up 19.3% on a year-over-year basis. As a group, sell-side analysts predict that C.H. Robinson Worldwide, Inc. will post 6.26 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 4th were paid a $0.63 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $2.52 annualized dividend and a dividend yield of 1.8%. C.H. Robinson Worldwide’s payout ratio is currently 48.09%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Evercore set a $217.00 price objective on shares of C.H. Robinson Worldwide in a report on Tuesday, October 6th. Freedom Capital raised C.H. Robinson Worldwide from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Stephens cut their target price on C.H. Robinson Worldwide from $225.00 to $215.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Raymond James Financial restated an “outperform” rating and issued a $170.00 target price on shares of C.H. Robinson Worldwide in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased their price target on C.H. Robinson Worldwide from $225.00 to $198.00 and set an “overweight” rating for the company in a research note on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, C.H. Robinson Worldwide has an average rating of “Moderate Buy” and an average target price of $191.20.

About C.H. Robinson Worldwide

C.H. Robinson Worldwide, Inc is a global third-party logistics provider that connects shippers with transportation carriers and other supply-chain service providers. The company helps businesses plan, manage and execute the movement of freight across domestic and international markets.

Its services include truckload and less-than-truckload freight brokerage, intermodal transportation, ocean and air freight forwarding, customs services, and transportation management. C.H. Robinson also provides technology and data-driven tools designed to improve shipment planning, visibility, routing and logistics performance.

Founded in 1905 and headquartered in Eden Prairie, Minnesota, C.H.