C.H. Robinson Worldwide (NASDAQ:CHRW) Coverage Initiated by Analysts at Citigroup

Citigroup assumed coverage on shares of C.H. Robinson Worldwide (NASDAQ:CHRW) in a research note issued to investors on Wednesday, MarketBeat reports. The firm issued a neutral rating and a $115.00 target price on the transportation company’s stock.

CHRW has been the subject of a number of other research reports. TD Cowen boosted their price objective on C.H. Robinson Worldwide from $86.00 to $103.00 and gave the company a hold rating in a research note on Thursday, August 1st. Barclays increased their price target on shares of C.H. Robinson Worldwide from $70.00 to $75.00 and gave the stock an underweight rating in a research note on Friday, August 2nd. Vertical Research raised shares of C.H. Robinson Worldwide from a sell rating to a buy rating and set a $102.00 target price for the company in a report on Tuesday, July 9th. Wells Fargo & Company raised their price target on C.H. Robinson Worldwide from $94.00 to $106.00 and gave the stock an equal weight rating in a report on Thursday, August 1st. Finally, Robert W. Baird upped their price objective on C.H. Robinson Worldwide from $88.00 to $100.00 and gave the company a neutral rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, C.H. Robinson Worldwide currently has an average rating of Hold and an average target price of $100.29.

C.H. Robinson Worldwide Stock Up 2.0 %

Shares of C.H. Robinson Worldwide stock opened at $110.17 on Wednesday. C.H. Robinson Worldwide has a 52-week low of $65.00 and a 52-week high of $110.51. The company has a 50 day moving average of $103.05 and a 200 day moving average of $89.43. The company has a market capitalization of $12.92 billion, a P/E ratio of 39.77, a P/E/G ratio of 2.19 and a beta of 0.82. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.94.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.19. The company had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.53 billion. C.H. Robinson Worldwide had a net margin of 1.90% and a return on equity of 27.84%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $0.90 earnings per share. As a group, research analysts forecast that C.H. Robinson Worldwide will post 4.13 EPS for the current fiscal year.

C.H. Robinson Worldwide Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.25%. This is a positive change from C.H. Robinson Worldwide’s previous quarterly dividend of $0.61. The ex-dividend date was Friday, September 6th. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is presently 89.53%.

Insider Activity

In related news, insider Michael John Short sold 10,894 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $98.38, for a total value of $1,071,751.72. Following the sale, the insider now directly owns 70,943 shares of the company’s stock, valued at approximately $6,979,372.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.47% of the company’s stock.

Institutional Investors Weigh In On C.H. Robinson Worldwide

A number of institutional investors have recently added to or reduced their stakes in CHRW. Van ECK Associates Corp raised its holdings in shares of C.H. Robinson Worldwide by 13,682.5% in the 1st quarter. Van ECK Associates Corp now owns 2,662,511 shares of the transportation company’s stock worth $202,723,000 after purchasing an additional 2,643,193 shares during the period. First Eagle Investment Management LLC lifted its position in C.H. Robinson Worldwide by 21.1% during the first quarter. First Eagle Investment Management LLC now owns 11,486,055 shares of the transportation company’s stock valued at $874,548,000 after buying an additional 2,003,158 shares in the last quarter. Interval Partners LP purchased a new stake in C.H. Robinson Worldwide during the second quarter worth approximately $82,581,000. Pzena Investment Management LLC acquired a new stake in shares of C.H. Robinson Worldwide in the first quarter worth $66,474,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of C.H. Robinson Worldwide in the 2nd quarter valued at $69,378,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

C.H. Robinson Worldwide Company Profile

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.