Ridgecrest Wealth Partners LLC Purchases New Shares in C.H. Robinson Worldwide, Inc. $CHRW

Ridgecrest Wealth Partners LLC purchased a new position in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,961 shares of the transportation company’s stock, valued at approximately $734,000.

Other hedge funds have also recently modified their holdings of the company. Burkett Financial Services LLC purchased a new position in C.H. Robinson Worldwide in the 3rd quarter valued at $25,000. Millstone Evans Group LLC increased its stake in C.H. Robinson Worldwide by 79.8% in the 1st quarter. Millstone Evans Group LLC now owns 160 shares of the transportation company’s stock valued at $27,000 after buying an additional 71 shares during the period. Continuum Advisory LLC purchased a new position in C.H. Robinson Worldwide during the 2nd quarter worth $27,000. NBH Bank purchased a new position in C.H. Robinson Worldwide during the 2nd quarter worth $29,000. Finally, Cornerstone Planning Group LLC lifted its stake in shares of C.H. Robinson Worldwide by 57.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 184 shares of the transportation company’s stock worth $31,000 after acquiring an additional 67 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

C.H. Robinson Worldwide Price Performance

NASDAQ:CHRW traded down $0.64 during trading hours on Monday, hitting $138.85. The company’s stock had a trading volume of 1,228,658 shares, compared to its average volume of 1,978,217. C.H. Robinson Worldwide, Inc. has a 52-week low of $125.35 and a 52-week high of $210.33. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.58 and a current ratio of 1.58. The business’s 50-day moving average is $147.20 and its two-hundred day moving average is $167.89. The company has a market capitalization of $16.22 billion, a PE ratio of 26.50, a PEG ratio of 1.16 and a beta of 0.94.

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

C.H. Robinson Worldwide Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of C.H. Robinson Worldwide from $225.00 to $198.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. Citigroup reissued a “market outperform” rating on shares of C.H. Robinson Worldwide in a report on Tuesday, October 6th. Stifel Nicolaus set a $209.00 price objective on shares of C.H. Robinson Worldwide in a research report on Thursday, October 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $220.00 price objective on shares of C.H. Robinson Worldwide in a report on Tuesday, October 6th. Finally, BMO Capital Markets dropped their target price on C.H. Robinson Worldwide from $190.00 to $160.00 and set a “market perform” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, C.H. Robinson Worldwide presently has a consensus rating of “Moderate Buy” and an average target price of $190.00.

C.H. Robinson Worldwide Profile

C.H. Robinson Worldwide, Inc is a global third-party logistics provider that connects shippers with transportation carriers and other supply-chain resources. The company arranges the movement of freight by truckload, less-than-truckload, intermodal, ocean and air transportation, serving businesses across a range of industries.

Its services include freight brokerage, transportation management, logistics consulting, customs and trade support, shipment tracking, and technology-enabled supply-chain solutions.