Point72 Asset Management L.P. Makes New $69.38 Million Investment in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Point72 Asset Management L.P. acquired a new position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 787,313 shares of the transportation company’s stock, valued at approximately $69,378,000. Point72 Asset Management L.P. owned about 0.67% of C.H. Robinson Worldwide as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in C.H. Robinson Worldwide during the 4th quarter valued at approximately $52,341,000. Franklin Resources Inc. lifted its position in C.H. Robinson Worldwide by 12.1% during the fourth quarter. Franklin Resources Inc. now owns 78,546 shares of the transportation company’s stock valued at $6,786,000 after purchasing an additional 8,477 shares during the period. Hsbc Holdings PLC boosted its holdings in C.H. Robinson Worldwide by 13.0% in the fourth quarter. Hsbc Holdings PLC now owns 239,984 shares of the transportation company’s stock valued at $20,711,000 after purchasing an additional 27,610 shares during the last quarter. Parallel Advisors LLC grew its position in C.H. Robinson Worldwide by 12.4% during the 4th quarter. Parallel Advisors LLC now owns 4,976 shares of the transportation company’s stock worth $430,000 after purchasing an additional 550 shares during the period. Finally, Focus Financial Network Inc. ADV purchased a new position in shares of C.H. Robinson Worldwide during the 4th quarter valued at about $211,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Robert W. Baird raised their target price on C.H. Robinson Worldwide from $88.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. TD Cowen raised their price objective on shares of C.H. Robinson Worldwide from $86.00 to $103.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Susquehanna boosted their target price on shares of C.H. Robinson Worldwide from $90.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Wells Fargo & Company raised their price target on shares of C.H. Robinson Worldwide from $94.00 to $106.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Finally, Bank of America upgraded shares of C.H. Robinson Worldwide from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $76.00 to $99.00 in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, C.H. Robinson Worldwide presently has a consensus rating of “Hold” and a consensus target price of $93.67.

Insiders Place Their Bets

In related news, insider Michael John Short sold 10,894 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $98.38, for a total value of $1,071,751.72. Following the completion of the sale, the insider now owns 70,943 shares of the company’s stock, valued at $6,979,372.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.47% of the company’s stock.

C.H. Robinson Worldwide Stock Performance

Shares of NASDAQ:CHRW opened at $108.02 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.42 and a quick ratio of 1.42. C.H. Robinson Worldwide, Inc. has a 1 year low of $65.00 and a 1 year high of $109.24. The firm has a market capitalization of $12.67 billion, a PE ratio of 42.70, a P/E/G ratio of 2.15 and a beta of 0.82. The business’s 50 day moving average price is $98.99 and its 200-day moving average price is $86.72.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its earnings results on Wednesday, July 31st. The transportation company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 EPS. As a group, equities research analysts expect that C.H. Robinson Worldwide, Inc. will post 4.13 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be issued a $0.62 dividend. This is an increase from C.H. Robinson Worldwide’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, September 6th. This represents a $2.48 dividend on an annualized basis and a yield of 2.30%. C.H. Robinson Worldwide’s dividend payout ratio is presently 98.02%.

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.